Enough money to retire at 26?

System

meer53 wrote: »

There is now way on this earth that those appliances will last anywhere near 10 years.

I've lived in this house for 27 years. I've had 3 kitchens, (£30k on average) 3 bathrooms, (£7k) a new roof, (£2.5K) new windows and doors, (£5k) cavity wall insulation, a new drive, (£4k) a new front wall because the old one fell down, (£1.5K) a new garage, (£2K) spent thousands of pounds on the garden to keep it manageable, two new fires and fireplaces, 4 three piece suites, 3 double beds, 4 single beds, new lounge and stair carpets three times, and they're just the things i can remember.

Get real.

How many of those were necessary?

My house is brand new really. My grandparents have had the same carpet since I was a child

teddysmum

Savings rates are abysmal and prices continue to rise, so at some stage you could find that you cannot manage without returning to work. However, as many older people find it difficult to find work , your position would be worse than theirs because you will have been out of the job market for so long.

peachyprice

berbastrike wrote: »

berbastrike wrote: »

Fridge = £220
http://www.currys.co.uk/gbuk/household-appliances/refrigeration/fridge-freezers/logik-lfc55s13-fridge-freezer-silver-20163486-pdt.html


Washing machine = £170
http://www.currys.co.uk/gbuk/household-appliances/laundry-dishwashers/washing-machines/logik-l612wm13-washing-machine-white-20227297-pdt.html

So much for "double it" !

Yes, and they would last you 2-3 years.

pleasedelete

How sad. That isnt living- it is barely existing.

What happens if you house needs re roofing? You need new carpets?

You wont be able to see the world, have children etc

Working can be great- maybe you are not in the right job?

peachyprice

Armorica wrote: »

I'm assuming you don't work in finance then?

Historic financial performance is no guarantee for the future. Your chart also conveniently stops in 2010.

No, he 'sells stuff' from his parent's spare bedroom, where he lives.

peachyprice

berbastrike wrote: »

My house is brand new really.

You don't have a house, you live with mummy and daddy (who would love you to leave), now run along for your dinner and stop wasting people's time.

meer53

berbastrike wrote: »

How many of those were necessary?

My house is brand new really. My grandparents have had the same carpet since I was a child

They were all necessary. If you are happy to live in a house with a 30 year old carpet or windows that let in the wind and a leaky roof then jog on.

Your fairy story has more holes than Nora Batty's tights.

Your brand new house that you paid cash for ? Which is really your parents house, which you are planning to pay off the mortgage for by the time you're 26 ? Come on now, if you're going to be a good liar, you have to have a good memory.

peachyprice

A public response to your PM question:

The problem is you are a liar and a timewaster who cannot even be bothered to check what they have written in the past.

And please don't insult me by calling me an evil troll, especially as it seems you don't even know what it means.

sproggi

Not the interest on the £300k. The interest covers inflation

You do realise that you will only receive £5550 interest on £300k for the first year assuming you leave it in for the full year.
As you withdraw your yearly £7500, your initial deposit would be reduced and therefor your interest would reduce (even if the interest was compounded and you had no need to withdraw any of it).
This means that there will come a point when your interest will not cover inflation and you will need to use some of your initial deposit to cover this, thereby reducing the years that this will last you.

System

sproggi wrote: »

Not the interest on the £300k. The interest covers inflation

You do realise that you will only receive £5550 interest on £300k for the first year assuming you leave it in for the full year.
As you withdraw your yearly £7500, your initial deposit would be reduced and therefor your interest would reduce (even if the interest was compounded and you had no need to withdraw any of it).

The £7500 comes from withdrawing it from the savings each year.

Interest gained covers inflation