Hope is not an Effective Financial Strategy

shangaijimmy

Wow, so many visitors and so many motivating comments. If you lot aren't careful I'm gonna keep on posting!! I only popped on here to report that i've listed a further 21 items this evening to go alongside the 11 listed yesterday, and the alarming thing is that i reckon there's easily another 40 items staring at me in the corner. 2 items from last Sunday's relist have bids, and then i'll relist the rest.

Suffolk lass - thank you very much you have given me some bedtime reading and a good point to start from. This morning i did some vary basic calculations for investing on a notepad with a pocket calculator. Somehow i have to find a way to get 5 years worth of income sorted to delay our pension drawdown. My plan is to start this when the mortgage is gone and it gives us 15 years to do it in. That means i have 6 years to "play" around with investing to learn and be comfortable with my risk levels etc... Quite excited actually about learning something completely new! So again, thank you. Further proof that this forum is amazing!!

Busy week for me ahead so posts may just be my morning TT's. Have a great week everyone.

katep23

Well done on the bay listing, I managed 11 items this weekend and was pleased with that!

greent

Well done on all that ebay listing

therocket_2

You are smashing this challenge SJ! Very inspiring to read

katep23

shangaijimmy wrote: »

After reading a fair bit of what seemed like gobbledy-gook, and then reading the S&S ISA guide on MSE i opted for Evestor (only 12 months into the market).

You've inspired me to sign by for an S&S ISA (also with Evestor); will only be putting in £100/month to start with as you say to get a feel for it.

Totally agree with Edinburgher, I suffer from paralysis by analysis so doing something which may not be perfect is better than doing nothing so thank you both!

shangaijimmy

Kate. I'm pleased i have inspired! We're all in this together. One little point in case you haven't signed up yet though...If i had £100 a month to throw at it i would have gone with Vanguard life strategy. I will have £100 a month to put in round about April next year and my plan is to switch across then (although if evestor does well then i may wobble!).

shangaijimmy

Awake since 5.30am grrr... So i updated our monthly Net Worth figures whilst its the 1st of a new month.

I've taken the recent sale of the identical house to ours (last month) and used their figure as house value. It was £5k more than the figure i had been using and ours has a much bigger garden and a conservatory so i think the using the figure is justified.

Assets

• Cash - £8,819.15
• Assets - £242,000
• Investments - £1,857.28
• Retirement - £152,364.68

Debts

• Mortgage - £95,015.63
• Car Loan - £1,500

Net Worth

• £308,525.48
• Change £9,066.40
• Change as percentage - 2.94%

In relation to our debt the car loan is actually a loan out of our savings, so each month we actually have a £250 swing :j

This whole net worth calculation is a really motivating factor!

try_harder

Another great month for you ,well done .

Thank you greent for your help , i am now using my cleaning spray that smells of orange ,lovely

Busy_Mee1

That is a fantastic place to be in Jimmy given your age and you have such a young family. I have said it before but you should be so proud of what you have achieved.

shangaijimmy

Thank you everyone for popping in these last 2-3 days. I had every intention of a ground breaking, earth shatteringly good post for tonight ("yeah right, who are you kidding..." i can here you all murmur). I also intended an hour of diary catch ups and inspiring posts. But sadly i've been up since 5.30am and the last 2 days i've had the life sucked out of me at work, so i have brain numbness and am going to bed. Got a full day at a conference tomorrow and a target list of peoples to network with, so i need a good nights sleep!