Can Mary have 3 cakes, eat them and expect a fourth?

vivatifosi

I'd love to retire at 55. Fair play to her for her investments.

I don't know why this article is so upsetting. She's one person in a country of sixty million and she's hardly an extreme case. She's thinking about her priorities -as she should- and has asked for advice. What's the big deal?

Even without savings, she is unlikely to need a food bank any time soon. Yes she should have savings, but she's in a safe job. It is highly unlikely that she will lose everything tomorrow. And say she did need £10k in a hurry, she's got a secure job so should be able to borrow at a decent rate, but may have to forego a couple of expensive holidays.

PasturesNew

Ah, I was worried about her for a moment. It's a good piece of advice given that if Mrs 3 Houses needs to retire/wants money all she has to do is put the rents up on her houses. Brilliant.

As for a 4th cake .... why not. Everybody loves cake.

Thrugelmir

mwpt wrote: »

Through hard work she was able to be gifted some money and then used this money to, brick by brick, build these houses she now owns.

Foundations of sand rather than concrete. So might as well be straw build rather than brick. Owing £530k of debt says it all.

Odds on she'll be financially pressurised in the next 20 years if she takes no action.

mayonnaise

vivatifosi wrote: »

I'd love to retire at 55.

I'm so glad you stopped right there and didn't reveal any details of your financial status, investments, or - shock horror - any profits you may have made out of property!
The usual envious lynch mob would have been all over you...
Phew.

Graham_Devon

vivatifosi wrote: »

I don't know why this article is so upsetting. She's one person in a country of sixty million and she's hardly an extreme case. She's thinking about her priorities -as she should- and has asked for advice. What's the big deal?

I don't think it's "upset" anyone.....

...but have you read it?

Have you seen the bit about how she "gets a gold star" for her investment prowess? A gold star!? Further on, she "deserves applause". Is this what propery investors and advisors are reduced to in the national media!?

For me, it summed up absolutely everything about the amateur BTL scene. The answer to everything is to up the rents. Theres nothing there about reducing her expensive holidays, just up the rents, maybe buy some more.

The advisor goes further to congratulate her for her varying asset investments. Varying!? Shes got a standard pension that the majority have, an off the shelf ISA and has ALL her cash in 2 BTL homes.

As I say, this just about sums up the whole amateur BTL scene. The posts that "we are just envious" are the cherry on the top of the cake. It's simply a childish response to a childish article.

kabayiri

vivatifosi wrote: »

...
I don't know why this article is so upsetting. She's one person in a country of sixty million and she's hardly an extreme case. She's thinking about her priorities -as she should- and has asked for advice. What's the big deal?
...

Because I still have the faint hope that these articles are intended to offer guidance rules which apply to a wider audience than just Marie.

If not, the paper should have just sent her an email.

Lessons which start with "inherit 2 nice chunks from 2 separate relatives" isn't really that useful.

But fundamentally Marie doesn't have a problem, only choices.

Son Joe could go get a student loan to fund Uni, like so many thousands of others. She could even trade one of her BTLs for one to house Joe and his new Uni mates, making money and housing the son.

But these are choices, not problems; not crises.

mayonnaise

She lives with her eight-year-old son, Joe. Her first job after Joe was born paid just £9,000 a year - luckily, she says, she already owned her own house. She was able to train as a teacher while Joe was small as the tax credits covered his childcare.
Marie was promoted three years ago to head of year seven at one of Surrey's top secondary schools and now earns £39,000 a year.

Single mum, increasing her pay from 9 to 39k over just 8 years through hard work and training. Hats off to her.
But yes, let's focus on what she inherited instead.

mwpt

mayonnaise wrote: »

Single mum, increasing her pay from 9 to 39k over just 8 years through hard work and training. Hats off to her.
But yes, let's focus on what she inherited instead.

I do believe sir, that you are reading too much into peoples comments. My partner is a teacher and they work extremely hard. Good for her, she has done well.

However, you are not giving enough credit to her houses in this. Just think of how hard they have worked in that time, earning way more than she has. And now for all their effort, Osborne is just going to introduce more taxes on these hard working houses. It's disgusting.

mayonnaise

mwpt wrote: »

However, you are not giving enough credit to her houses in this. Just think of how hard they have worked in that time, earning way more than she has. And now for all their effort, Osborne is just going to introduce more taxes on these hard working houses. It's disgusting.

She works, she's got a boy, she inherited, she invested in property and now with upcoming tax changes is asking for advice with a view on retiring at 55. Still don't see why all the fuss, or the point to this thread for that matter.

Graham_Devon

mayonnaise wrote: »

She works, she's got a boy, she inherited, she invested in property and now with upcoming tax changes is asking for advice with a view on retiring at 55. Still don't see why all the fuss, or the point to this thread for that matter.

Well no ones forcing you to read or contribute.