Millionaire Challenge

Broken_Biscuits

being mortgage free in your early 30s matched with the work ethics you have described will no doubt bring you financial success. Well done on what you have achieved so far.



even a short break can have such a positive effect on your approach to life. Maybe its time to have a holiday? It doesn't have to cost loads. For example camping in France/uk or an all inclusive sun holiday for a few days.


best of luck

minxy-x

Broken_Biscuits wrote: »

being mortgage free in your early 30s matched with the work ethics you have described will no doubt bring you financial success. Well done on what you have achieved so far.



even a short break can have such a positive effect on your approach to life. Maybe its time to have a holiday? It doesn't have to cost loads. For example camping in France/uk or an all inclusive sun holiday for a few days.


best of luck

Thanks for you good wishes and compliments!

You are totally right about the holiday, last year was a no go, but my husband said a few nights ago about getting away for a week, I am led by him really as he does all the day to day stuff (I do admin), so I did not want to put extra pressure on him.
He has a good team at work, so think he is feeling more confident about leaving the business for a bit.
I suggested a log cabin with hot tub in the UK near work, in the woods we would feel far enough to be away from it, but he is also contactable if any thing goes wrong, and I think he will feel more comfortable with this. Then we can venture further away in the future.
He really needs to re charge his batteries, we need to make sure we stay close as a couple and have some fun.
So I will commit now to getting him some time off this year, I will do everything I can to make sure he feels he can leave the business for this time!
Another goal written down.

Catm22

How do you envisage making £1 million? Do you have money to invest or do you have some other way?

minxy-x

Catm22 wrote: »

How do you envisage making £1 million? Do you have money to invest or do you have some other way?

If you have a look through this thread, posters have mentioned about their situations and plans.

Karmacat

minx-y, Broken Biscuits, congratulations to you both! How I wish I'd overpaid the mortgage earlier - I've paid it off now, and a lot of it was early, but I could've done more. Never mind, even what I've done has given me options.

I'm having problems with my French apartment - the firm thats been advertising the apartment block for holiday lets won't renew their option. Lots of negotiating with the other owners to do.

And I'm realising I need another string to my bow, so not retiring in August 2016 so much as doing something similar online ... time for a change.

Listerbelle

Karmacat wrote: »

I'm having problems with my French apartment - the firm thats been advertising the apartment block for holiday lets won't renew their option. Lots of negotiating with the other owners to do.

Sorry to read this. I heard something on the radio the other day, about tax and licensing issues with holiday lets, and that a "crackdown" has begun. I hope that you are not affected.

Broken_Biscuits

sorry to hear about the apartment and postponed retirement.

your congratulations to me on the mortgage is a bit premature.. I only bought about a year ago and by next month will have paid off 3 years worth of payments. "just" another 22 more years to go!

Karmacat

Listerbelle wrote: »

Sorry to read this. I heard something on the radio the other day, about tax and licensing issues with holiday lets, and that a "crackdown" has begun. I hope that you are not affected.

Thanks! Its not that, fortunately - the leaseback agreement (where a French firm finds holidaymakers to rent the property out) expired in December after 9 years, and since its making a loss, the renewal of the agreement is less advantageous, and people are shuffling their feet. I hope it will be sorted by the deadline they've given, which is Friday, but I don't know yet.

Broken_Biscuits wrote: »

sorry to hear about the apartment and postponed retirement.

Thanks! I'm a bit gutted to be honest, as I was talking with my mum on Sunday and she'd been retired for 4 years at my age. My brother's in a much worse situation than me, though, so I have to keep a sense of proportion.

your congratulations to me on the mortgage is a bit premature.. I only bought about a year ago and by next month will have paid off 3 years worth of payments. "just" another 22 more years to go!

Wow! Okay, I see what you mean :rotfl: but I'm sure that since you're taking the initiative and coming on here, you'll find ways to overpay and get it paid off sooner/increase your pension.

I was really thinking of your post, when you mentioned having a lodger, and using ratesetter (peer to peer lending?) which is really ingenious.

ms_night_ryder

Hey guy's

Not a great deal of progress here, I fell ill and still am.

I do have a question for the older fonts though, how much should you have saved for a pension?

I'm 32 and just thinking about it, I know I should have started earlier, but now's o.k, also they say that by the time I am ready to retire there will be no state pension so now I'm even more concerned.

Broken_Biscuits

pension wise...
ive been told that half your age you start paying as a percentage will give you a comfortable income. This assumes you have no other income streams though.

i started paying in at 18. So i would need to maintain 9% til retirement.

16% of your income for life if starting at 32.