Now we're older - how well did we manage our money?

PennyForThem_2

We were lucky - we didn't actively manage but seemed to take lucky decisions which have panned out - mostly. However having reached 60 I now have an IFA and hopefully will be informed now.

pollypenny

PennyForThem wrote: »

We were lucky - we didn't actively manage but seemed to take lucky decisions which have panned out - mostly. However having reached 60 I now have an IFA and hopefully will be informed now.

As long as he takes his cut!

pineapple

A mortgage is the only debt I have ever taken on. I remember a time when everyone around us seemed to be living the life of riley but we never spent what we didn't have. My ex husbands Bradford work colleagues thought we must be rich as we lived in Ilkley. No - we just weren't out pubbing and clubbing it and didn't think it obligatory to keep up with the Jones's.
So - while I feel for those who lost their jobs in the current climate, I have to say I have no sympathy at all for people who are in trouble because they maxed their cards on the latest plasma or designer gear with fancy holidays to match. It's called greed.
Still - I could possibly have done better. I give myself 8 out of 10!

Errata

I'm very ok now, but the OH and I occasionally sailed rather too close to the wind particularly when we bought our first house. In our defence, we sat on deckchairs for the first 12 months, cooked on a camping stove, slept in grandparents donated bed which was donkey's years old when they gave it to us, listened to the radio and admired the bare boards throughout the house.

Homeagain

SailorSam wrote: »

I've always been tight, not really jewish but certainly a careful Christian.

What on earth does that mean? Its certainly offensive.
I really don't understand what religion has to do with frugality.

MRSTITTLEMOUSE

Errata wrote: »

I'm very ok now, but the OH and I occasionally sailed rather too close to the wind particularly when we bought our first house. In our defence, we sat on deckchairs for the first 12 months, cooked on a camping stove, slept in grandparents donated bed which was donkey's years old when they gave it to us, listened to the radio and admired the bare boards throughout the house.

Snap,we did the same and can honestly say we look back very fondly on those days.
Oh the memory of cooking Sunday lunch on a camping stove :rotfl:.
It never did us any harm but I do think it made us more appreciative of things later on.

Nearly_Old

PennyForThem wrote: »

We were lucky - we didn't actively manage but seemed to take lucky decisions which have panned out - mostly. However having reached 60 I now have an IFA and hopefully will be informed now.

We did have an IFA some years ago who turned out to be not that good, not really bad but just not that pro-active so we ended the relationship about 6 six years ago. At the start of last year decided to check again if I could manage to retire so having negotiated the terms of a possible an early retirement / redundancy deal needed to get everything checked.

We've found a very good IFA working for a small practice in Scotland. He's still only partly qualified (5 or 6 more exams to go) so all his work is thoroughly checked by the owner of the practice. He is working very hard including doing some work in his own time to keep the fees to the absolute minimum. Yes, finally our Dear Son has committed himself to a long term career path. :T

Of course part of his motivation could just be that the Bank of M&D will stop making "loans" and might (if the pension he negotiates isn't high enough) start to seek some repayments.:rotfl:

Fingers crossed that he got everything right as I took the deal and finished work at the end of October 2011, the original plan had been to retire at 60 so only 2 years late.