This Time I'm Really Going To Do It

Karmacat

That sounds brilliant! Those mechanics do love to suck their teeth, don't they, and its *so* ominous :eek:

edinburgher

Also have concluded that the two financial advisors I have sought advice from where blooming useless and I would have been better just asking Ed over on his thread.

We so need a financial independence/retirement planning thread on this board. I know there are several similar threads in savings and pensions lands, but MFW has its own special blend of craziness to impart on the topic.

Are you a higher rate tax payer Watty? If so, might it be worth considering reining in the OPs and BTL thoughts to pay into more conventional investments (like your pension)?

EchoDelta

Watty1 wrote: »

Oh my goodness that must have been some read! Thank you



Lovely to hear from you - wondered where you were and if you were ok A mind map is a piece of paper with lots of information in circles all in pretty colours and squiggly lines :rotfl: You can see I have a handle on them

:rotfl:I like colouring and squiggles so potentially right up my street!

Yay for Mr Watty and a fixed lorry!

LauraJo

Hi, just catching up! Great news about lorry! Have you been out in it yet?

Goldiegirl

edinburgher wrote: »

We so need a financial independence/retirement planning thread on this board. I know there are several similar threads in savings and pensions lands, but MFW has its own special blend of craziness to impart on the topic.

I think there must be lots of people who are looking at the bigger picture, not just the mortgage, or, like me, already mortgage free, but looking to move forward to financial independence.

I knew I needed a diary, because the focus would help me keep on track, but initially I felt that there wasn't a niche for me.

The savings board didn't seem right, nor did the pensions board.

Fortunately I found my home here, but there must be lots of people keen to chart their journey to independence, but feel there's nowhere to start their diary.

A financial independence area on the board would be a very good idea. The blogs on this subject seem popular, so there must be lots of people who'd like to get involved

PS, great news about the lorry, Watty!

gallygirl

Goldiegirl wrote: »

A financial independence area on the board would be a very good idea. The blogs on this subject seem popular, so there must be lots of people who'd like to get involved

I would say seconded, but probably fourthed or fifthed or something . We should all contact the forum team and ask.

Another one voting for Ed as financial advisor. I've seen two - the first arranged cheap critical illness cover for me, cheaper than I could get elsewhere. But didn't really give much practical advise on anything. I had to tell the second one that statutory redundancy pay was capped at around £450 a week. He was selling income protection and didn't know :eek:. Plus he obviously wasn't very good if he was still doing working at his age :rotfl:

Watty - great result on the lorry-that's-not-really-a-lorry :T.

FloppyDisk

Finances are confusing, lorry... Yay! Get out and use it now to really get your money's worth!

By the way, feel your pain with the saddler, mine is 7 and since coming to me has already doubled in size so having to arrange a refit!

JHH1982

FloppyDisk wrote: »

Finances are confusing, lorry... Yay!

^^ What FD said

And whilst i'm some way off being able to joing the FI movement ( i want to complete me MF journey first!) - i do think it's a great idea!:j

Watty1

edinburgher wrote: »

We so need a financial independence/retirement planning thread on this board. I know there are several similar threads in savings and pensions lands, but MFW has its own special blend of craziness to impart on the topic.)

Totally agree. I think many of us started our journey wanting to become MF then started to look at the bigger picture. I know that was my journey.

edinburgher wrote: »

Are you a higher rate tax payer Watty? If so, might it be worth considering reining in the OPs and BTL thoughts to pay into more conventional investments (like your pension)?

Actually no I'm not thanks to the recession and some neat advice from my accountant. My pension is funded directly from the company to save corporation tax. My accountant showed me the sums and actually it makes little difference if I save it as corporation tax or go for tax relief on my contribution but I feel better paying it from the company somehow and not paying over the corporation tax. If feels more 'tax saving' to me even though the bigger picture shows they are the same


As the mortgage has fallen - and - as I have now written a survivial guide for my company so if anything were to happen to me Mr Watty could continue the company for a while - we don't need such a large emergency fund.


So the BTL plans are a way to make use of that rather than just let it sit at a very low rate of interest. But, I would be looking at the BTL on interest only and I'm just not so sure on that.


I need to play with some calculators and a pen and paper and do lots of calculations ...geez wish it was easy. I am so not a methodical detailed person

Watty1

FloppyDisk wrote: »

Finances are confusing, lorry... Yay! Get out and use it now to really get your money's worth!

By the way, feel your pain with the saddler, mine is 7 and since coming to me has already doubled in size so having to arrange a refit!

Don't currently have saddle. So lorry doing sod all! Have sacked previous saddler. New remedial saddler came today - long story - involving appalling behaviour from Handsome baby and expensive physio for Handsome Baby and a blow to my confidence - and handsome Baby is now a nearly Most Handsome Grown Up with a very badly fitting saddle and needs a new one - but - has so much muscle wastage that remedial saddler is to lend us one as there is no point in buying one for a while. Not sure when remedial saddler coming back with said loan saddle but she promised 'before christmas'. Most Handsome has been 'resting' but now starts a lunge programme ....


Other horsey news for anyone that remembers Mr Eds the badly behaved Fell - he is now a very successful Fell with ribbons and sashes and first rosettes and his show season is declared "a triumph" and his your rider a "pot hunter". Bless. Mr Watty very happy. Mr Eds very happy. Child rider very happy. A success all round. And he is not terrifying the life out of me so very happy Watty!