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Quit everything , and start again over 50?

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  • Smodlet
    Smodlet Posts: 6,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 8 May 2016 at 4:14PM
    Many thanks, LL, methinks it is high time they had a "tongue in cheek" icon...:) Would that I could quote the bard, but I had an English teacher who managed to make (gasp) the Scottish play boring. I got far more out of Mr. Pratchett's take on same, Wyrd Sisters. That had me falling off my chair laughing. Laughter is really good medicine...

    "When shall we three meet again?"

    "Well, I can do Tuesday..."
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Yeah, more positive ;)
    I have a day off doing the garden. I'll miss twickenham , but debt free is the way to go ;)

    Fun has started; phone call from websites - reduced to 1% although I'm not gonna use them .
    Gotta tell Dexters / chase Buchanan that it's out of them 2:
    I'm hoping chase will reduce to 1%. If not, I'll still go with them .
    Mad I know , but I like CB from what I've seen so far ..
  • Smodlet
    Smodlet Posts: 6,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    AC, do you think it could be worth mentioning to CB that you have had other quotes for 1%? Just a thought.

    Glad you're feeling more upbeat:)
  • Thanks smodlet . Got a bit knocked off, but not 1%.
    However , I have more faith in CB , than the others so we shall see;)
    I sign contract with them next Monday , and everything happens .

    Just saw my specialist at st Thomas 's today . He thinks it's a good idea .

    Cheers
  • One suggestion, which I know people that have done this is to move to the Southern trouble free part of Turkey.
    Lets assume you have £300,000 debt free this would currently give you 14% interest in a savings account, £42,000 per year interest income. where the interest is given monthly, You would have to spread your money over 3 banks, so that your money is protected.
    At present interest rates are approx 11% for smaller savings, but you would have a nice , trouble free lifestyle. Just rent a Deluxe Apartment etc. so you can see how you would like living in Turkey.
    There are some beautiful areas to live.
  • Thanks Brighton . I'm not that brave unfortunately . If you include mortgage and dmp, I owe about £120,000.
    I will try to get a final settlement offer to clear dmp. Say£10-12,000.

    I like plain food and will need to work for he rest of my life.
    By working say, 3 days a week I will feel like I've achieved something .
    While I am obviously mad, I have always been very cautious .
    (Except for remortgaging a couple of times , building up debt)
  • Hi

    I've just read through the whole post - I used to live in London and made the move to Poole 2 years ago - we are so happy with the change of lifestyle (even if in our case it has lead to money issues as we were not in your situation). It's my hometown, so I thought I'd offer some advice...

    I would defintiely rent first - with the sort of money you will have available to buy a place outright, you could afford a one bedroom place in a few really nice places, such as Ashley Cross and Westbourne, both of which have good train and bus links, good community feeling and entertainment, and access to the coast. Both would be much preferable to Branksome in my opinion.

    Job-wise, I have no idea of specifics for the type of work you do, but I do know that if you are debt free and work is about earning to live and to meet people, then you should have no issues - there's quite a bit of customer service, retail, carer roles and obviously there's hotel work too.

    Good Luck!
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 10 May 2016 at 1:49PM
    Thanks oh no...;)
    Next weds, is when I catchup with my friend.
    He says Ashley cross/ Westbourne too . So long as I'm near everything, then hopefully all should be well.
    1 bedroom. Would that mean service charges? Could I get 1 bedroom house, opposed to a flat ? I don't want to be in a place where investors own flats, as you never know who lives next to you, or for how long.


    My background is Postroom / facilities. It's all I know really. So looking for something in that field, general,office assistant etc.
    I would think, I'd have to travel to Bournemouth for that .

    My friend was born in Poole, but moved back from London about 20 years ago. Renting , or buying straight away.? I may find out more next week.

    Cheers
  • lessonlearned
    lessonlearned Posts: 13,337 Forumite
    10,000 Posts Combo Breaker I've been Money Tipped!
    AC. I had a look at several flats and apartments and have completely ruled them out.

    Service charges, noise levels - sound insulation is generally poor, possibility of neighbours from hell and no escape (yes I know you can get bad neighbours anywhere but houses can afford more privacy and protection so they impinge less) neglected shabby communal areas, litter etc.

    If your budget will stretch that far and it should do, then I would take a look at houses or bungalows rather than apartments and flats

    Yes you can get one bedroomed houses but they can take a while to sell, unless they are in an ultra trendy red hot area. I bought one once, renovated it and sold on very quickly but it was in a very fashionable area. Generally they can "stick" for a while, so be careful.
    By all means rent a one bedroomed property to keep costs down but when you come to buy try and stretch to two beds.

    Have you chosen your EA yet.

    I'm not going to view any more properties now until next month. I'm going to Barcelona next week and it's my son's wedding the week after so there's no point starting something I can't finish. In the meantime I'm watching a few possibles on Right Move.

    I shall be looking for a fixer upper. I'm lucky I don't have to live on a building site. I can remain living with my son whilst we do the work. Best of both worlds.:D
  • Smodlet
    Smodlet Posts: 6,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    See how many people are rooting for you, AC? I feel privileged and humbled to be here and to be one of them.
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