what are you saving for?

HornetSaver

DigForVictory wrote: »

Suggestions on how to stop raiding the stash over Christmas & birthday season appreciated!

Stop buying calendars.

darkidoe

Saving for 'F- You Money'

What you plan, say, do in your life after that is from you yourself. It's a way of life! lol

Snakey

I'm saving to give myself options. Within that and in no particular order: pension, pay off mortgage, ISA investments, refurbish/furnish the flat (with stuff that will last), cash savings.

Once all those boxes are ticked, I can think about what I really want to do. This won't involve "a proper job", but will ideally have a component which will make enough to cover my living costs while being a small enough part of my overall life not to feel like a chore. Working towards being able to do this is one of my key non-financial goals.

I have no descendents, so the whole lot can go on residential care if I need it - apparently five in six people don't, but if I'm one of the unlucky ones I don't want to be stuck sharing a room with a stranger in some dismal institutional block without a garden or a proper cook because that's all the Council will pay for.

So yeah, a mixture of hope and fear.

I'm nearly twenty years in to my plans, since I was a late starter, and the "early (partial) retirement" part is perhaps only five years away. Plenty of time for everything to go wrong, of course, but right now I couldn't be more proud of Young Snakey for making the effort for us all, despite how far away it all seemed in the early days.

eskbanker

Joe_Bloggs wrote: »

eskbanker wrote: »

Joe_Bloggs wrote: »

I allege The concept of money is just a hypothetical means of temporary storage of value available at the time of exchange. Let us make the most of it for mutual benefit rather than try to profit from it as individuals.
J_B.

....or even J_C[orbyn]

Dear eskbanker, Please elaborate as your comment is too cryptic for my understanding.

Your ramblings seem (a) inspired by Marxist dogma and (b) somewhat detached from reality, does this ring any bells at all?

george4064

In general everyone is saving for their future, and in everyone's future they have particular goals or objectives in mind. This can range from buying a first home, going on that holiday you've always wanted to, saving for your children costs/fees, going mortgage free/debt free..

For me, I am primarily saving to buy my first house. However Im increasingly thinking of not using literally all my wealth to go buy a house, as that would be putting all my eggs in one basket (the property). This change in tactic will take me a while longer to get there (buy a house) but I think its for the best, and maybe house prices might actually fall if I wait a bit longer and hard Brexit happens!

Joe_Bloggs

@eskbanker
From where in the Marxist dogma does it say what I said?
What are your savings goals? Have you diversified your portfolio sufficiently to avoid the next crash.
J_B.

principa

I save for securty.

or rather, to combat my acute insecurity.

being out of debt also is a great confidence booster.

so saving is my drug of choice to alter my brain's biochemistry...

Bazofts_Revenge

I am saving to be able to retire comfortably ASAP. I used to enjoy my job, I was given my own department and the Directors let me grow it (500% growth in personnel and turnover in 4 years) and tell everyone the way it works is best practice but now they are micro managing and criticizing everything. I've 90k in my isa giving me £3k+ income, I expect I can make that last 8 years to 55. After Christmas my current aim is to put the £300 a month ISA income plus £700 new money into my pension and get £250 back in tax to build up my Pension (only £15k) so I have enough to get through 55 to 65 and claim my deferred Final salary pension. Once my Directors annoys me enough I will walkout.

guitarman001

Financial security, largely in the form of having a home paid off. I've held off buying for years, though. After that, pension. Also, my partner is older and I'd like the money for us to do things while we both still can (the odd holiday, for example).

Just my luck, though... They're saying inflation is going up due to brexit and I cashed in all my index linked certs!

reeac

Ray_Singh-Blue wrote: »

- might want to build a house to downsize to, without selling the family home first

I don't know if I will actually choose to do these things. But without a decent war chest they are not even on the menu,

We saved up and built a retirement home a couple of years before moving there. Being able to move out of our original house at any time was a big advantage when it came to selling. Mind you , we should have kept it and rented it out. Instead we were conned by all the newspaper talk of "the cult of equitiy" as they did so well throughout the 90's and put our money in the stock market instead.