Mooloo's Joining up the dots in 2017

Brighton_belle

Mooloo, please do not consider for a nano second allowing your inheritance to by pass you and go to your children.
Quite apart from the fact that 3 out of 4 of them are unable to make good life choices,and a lump sum will not improve their life at all: they will fritter the money away on insubstantial flim flam. Let alone the chaos it will cause to their benefits.
You are still only in your mid 50's. Yes I know your mother may live for a number of years yet but who know's what situation you will be in when she does go? A lump sum may make a huge difference to your life, even if if you can't buy your own property. You have no pension to speak of, little savings and health that is not brilliant. Do not throw away the potential for little bit of security.You could live for another 35 years yet yourself.

Savvy_sewing

I’m hoping both of us have a long life still ahead of us. But obviously as Mum was ill earlier it did bring it home that she is 82 in the new year, and now possibly has COPD, which could mean not inheriting anything because it might all go on care costs, but if she has her way she wants to pop her clogs in her sleep while she is still able bodied etc! Bless her.
I don’t know exactly how much she has but I know the house was valued and somewhere around £55k-£70k could be a reasonable guesstimate at the moment for each of us. She has funds in ISAs and bonds as well.
If legally I am able to stay where I am, continue to run my business etc I would want to invest in a holiday home in the hills, that I could do up gradually and possibly have workshop space below the house (common in Portugal), that I could run Sewing holidays etc in eventually.
If it ever took off it would be a possibility that I could live there permanently if I could prove I had the means to sustain my self.
But of course that is all high dreams. At the moment.
I would want to buy swiftly if I could so that I didn’t get generous and give it all to the children.

lincroft1710

It is pointless thinking what to do with a possible future inheritance!

It could be swallowed by care home fees.
Your health may deteriorate so that the Portugal project becomes unviable.
House prices in Portugal may rise beyond the amount of your inheritance.
RTB may or may not be a possibility.
Your mother may disinherit you or may will part of your expected "share" to your children,

You have plenty to keep you occupied without trying to future spend something you haven't got. Decide what to do with the inheritance when you get it and not before, and spend it on yourself not on your children.

beanielou

Dreams are always good.
Your tax credits would not be affected by a lump sum as EE has said.

beanielou

My dream is to pay off my mortgage.
Will keep plodding on

Savvy_sewing

I see your point but I also have my own views as for one Mum would not disinherit any of us, especially me, as she and I are very close. She is a generous person with out a mean streak.
If care takes the funds all well and good, if I die before her ( I wouldn’t know or need a dream).
I was just going over the situation because she brought it up the other day. She wants me to get my dream of Portugal as my brother and sister live theirs in France.
Yes the price of houses may go up, but I doubt that they will treble in the next few years. Maybe in the Algarve etc but not in the mountains. The houses/ shells, for fixer uppers, are around £20,000
Fully ready to live are around £40,000
I could probably manage to get the first figure from the sale of my business if I really do want to go. But I would need an income to still live. I will be aiming for turning around the finances once I can clear the credit cards that the Wedding and DS were used for. Biggest pays monthly for the one she used but DS alas has not been able, so I am ending up paying that, but once that is cleared I will save up instead. Possibly trying to put it in the pension fund.
As I said it was all just about the thoughts etc while I was here in Oxford having a lazy day as BF had his Dgd here to look after.

Savvy_sewing

beanielou wrote: »

My dream is to pay off my mortgage.
Will keep plodding on

A good dream to have, will be routing for you x

Hard_Up_Hester

How much Portuguese do you speak Mooloo, it's supposed to be a difficult language to master. I know just the one word, thank you.

Savvy_sewing

I am a little rusty but I did do it up until o level many years ago ( 30 odd).
But I can understand what is said more often than I can actually say it. I do intend to practice it a bit more than just the usual menu and politeness.

Savvy_sewing

Not the best start to the day. I changed suppliers of electric to my business at the end of September. On the 10th I received a letter from new supplier telling me that they were taking £274 plus pennies DD today. I telephoned on 10th and said can’t afford that, changed to them for a good deal and was only paying current supplier £102 a month, and was assured they would reduce DD accordingly.
Today £274 went out and put me in overdraft.
I was very upset and called them. I have raised a complaint. The guy answering me was flabbergasted that I was being charged before I even had any supply. I gave him my meter reading and it was Lower than the reading the previous supplier gave as my end reading! I said they didn’t come and read the meter as far as I know. And that I hadn’t supplied a reading unless staff had without my knowledge.
I will be glad when October is over!
November must be a better month!