The Matrix - Re-Evolution!!

Memory_Girl

Wow - look at the lively discussion - and I was turning hems on DS1's school trousers :rotfl:

I am starting from an income of - well - nothing really!! so lets see if it can be done

The rough plan is that I chip away at my 25 ideas over the course of the next three years and document each step of the way so that others can model what I do with the help of the mentors - and the matrix of course

I am juggling a couple of ideas at the mo! - but strikes me the most helpful thing to do would be to model something that Claire can copy - but in a "its day 17 here's what I did" kind of way. Will expand over there later.

Off to feed the kids - its band practice night

Back soon

MG

Lara44

Hey Ladies

OH and I are visiting a financial advisor in September to sort out what to do with our savings, so this discussion really struck a chord. Low interest rates would really suit us as we go to SVR in March 2012 from a horrible 5.49%. We have savings, but as OH is self-employed we really need these in case he isn't able to find work for a period of time. We can overpay from 2012 too. We have no retirement savings at all.

I agree with FW that passive income streams are the way forward. I have 2 ideas for myself that I would like to implement this year, they will bring in only small sums but it will be a good and interesting exercise. OH has the option of producing work to sell, however building up the passive income stream here takes time away from other better paying jobs.

Bitsy_Beans

OK being a bit thick here but what counts as a passive income stream?

Memory_Girl

Bitsy_Beans wrote: »

OK being a bit thick here but what counts as a passive income stream?

One that once the initial work is done takes hardly any hands on day-to-day running

Royalties, residuals, automated websites etc.


Just phoned my mate in Edinburgh as DS1, his Gran and his Gran's 72 years young friend are thinking of doing the museum tomorrow.

"What's the mood over there - any rioters?? - will it be safe?"

The response

"Edinburgh is too busy fighting off Zombie Flesh Eating Mime Artists to riot." :rotfl::rotfl::rotfl:

I'd forgotten it was the Festival :rotfl: Our regular Festival goers will understand that in a face to face between them and a looting mob - the luvvies would win every time.


BTW - anyone heard from pyschopathbabble? Thought of her when I saw Clapham and all?


MG

Marru

Bitsy, something that earns you money even if you don't actively work for it. For example write a book and then after that the royalties from the book sales would be your passive income stream. Or create software and then all the downloads will be passive income when system is automated etc...

DD's dad was supposed to call at 6pm. I have tested my phone and it works both ways (making and receiving calls). Half past I will turn the phone off.

There are new jobs being advertised in my work, it will be very exciting stuff and also there is a senior vacancy open. They want someone qualified. I am but not yet in UK. So I sent a little email to my manager. I would be very grateful for some nice positive nudges that something will come out from that.

I will join the MFi3 but for me it is DWi3 as only after that I can start (pipe) dreaming about being able to have a mortgage.

Bitsy_Beans

Marru wrote: »

Bitsy, something that earns you money even if you don't actively work for it. For example write a book and then after that the royalties from the book sales would be your passive income stream. Or create software and then all the downloads will be passive income when system is automated etc...

B*gger all chance of that happening then. I can't even understand Twitter posts as they all look like computer code :rotfl:

Karmacat

thriftyscotslass wrote: »

You spoke once about thrifting yourself into paralysis MG and it is so true, that feeling of being stifled and stuck is just pants

So enterprise it is then - bring it on

That phrase struck a chord with me! I had to go out over the weekend, I just had to, and it took me ages to persuade myself to buy a cinema ticket.

Bitsy_Beans wrote: »

Only 2 weeks til we're off to sunny (or it had better be ) Norfolk and quite frankly I can't wait!

Ooh Bitsy, what part? I was round Heacham/Kings Lynn way last month

Firewalker wrote: »

OK, I am more interested in developing other income streams - in theory one should have a minimum of five income streams and the more of these are 'passive' the better. We currently have four: one of these is not very regular and one is tiny (my royalties). So, the race is on.

A question I saw on a blog which we may have fun with. If you had to raise £300 per month above you current income what would you do?

Totally agree on needing as much income as possible to be passive, and to have several streams .... at the moment, I'm just about keeping my head above water, plus working hard on improving my standard of living in the house - spaciousness, decoration, insect-proofing.

As for the £300 .... well, has anybody else on here done the £10 a day challenge? Thats roughly the amount you make if you do that! I used to regularly make just over £300 - from all the classic dfw ways - selling on amazon, matched betting, banking offers, free bingo, mystery shopping, all of it. And plenty of people were aiming for £20 a day trouble is, with doing it with those sorts of things, the hourly rate was very low, if you worked it out, so it left no time for actual living. But its possible, even with that stuff.

Mortgages - can't join in that one, when I downsized, I became mortgage free. The race now is to up my pension pot *dramatically* - at least the amount of people's mortgages so that s my priority now.

Memory_Girl

So you can be MFi3 "maxed fund in three" ......................... what's important is that together we can all work towards something meaningful.

Breathe Marru hon - the switch off the phone - the last thing you need to be doing is hanging around waiting for a call. Enjoy our evening with the littlie instead.

MG

Marru

Phone is off and little has been fed. She is heading bed soon and I will be reading a blog post about prognasination with tiredness as excuse

Two more days before holiday - I so neeeeed this holiday. How do you say "can I have it with salad" in French?

Karmacat

"Je le voudrais avec de la salade, s'il vous plait"

"De la salade, s'il vous plait".

**points finger** s'il vous plait.