Dreaming of financial freedom!

ch4rly2002

Jessy103 wrote: »

Sorry to hear about your dad ch4rly. Your mum is an inspiration!! x

Thanks Jessy She certainly is to me.

Well done on your overpayment figures by the way... you should smash your target this year!

themadvix

Sorry to hear about your Dad, Charly, although as you say, sleep is probably a welcome release for him.

ch4rly2002

Morning guys

Well, yesterday was exciting. We got a call from the father-in-law last week asking us to go round because he had seen a business for sale that he thought we might be interested in buying. He knows we're both fed up with our jobs and thought it might be a good change for us. He arranged the viewing for yesterday so he, the mother-in-law, DH and I drove there yesterday to meet the owner and check out the business. I must say, it's a cracking business and is something we'd be very interested in. The only thing is that the bottom line profit is about £20k. DH and I earn over £97k between us so we would have to expand a LOT to earn enough for both of us to give up our jobs, but I would happily take a pay cut to try and develop the business. DH would continue his current job for a bit to make sure we could cope financially, but the aim would be to earn enough for him to give up his job eventually. We don't really need to earn huge salaries, and a happier work life for us is worth more than the money, but the business is in quite an expensive area so we would need a certain amount to buy a home... even a smaller 3 bed semi costs tens of thousands more than our current 4 bedroom detached. FIL is a chartered account and he bought and sold companies as part of his job before he retired so he knew all the right questions to ask and will look at the books to see if he thinks it is a good investment, so we'll see what he has to say before making a decision. It is equal measures of daunting and exciting. I would love to own and develop that business, but the thought of having that responsibility to come up with ideas and make it work is terrifying!

I have an offer on fleabay for £1 max selling fees for 4 days so I'm going to look for some more expensive items and get them listed. Might as well do it now to save some some money on the fees.

Moominmamma89

Sounds exciting!

Jessy103

Wow exciting stuff ch4rly!! Good luck with it!! x

themadvix

Sounds really exciting! It's great that your FIL will be able to do a good assessment of it for you - I think that's half the battle with knowing whether something's a good investment or not. Keep us updated!

Kittenkirst

Oooh how exciting and scary all at once!

gallygirl

Exciting choices to be made!

With regards to your gran - take the money she offers you with grace. One day she'll be gone and her savings will be passed to you all - far better for her to have the pleasure of giving it to you now. If it makes you feel bad maybe keep it all to one side and use for a weekend away or something else she would approve of, then you can tell her she paid for it :T.

Hope dad is peaceful. Your mum sounds amazing X

shangaijimmy

All exciting and intriguing as well! It sounds to me like you've 75% made your minds up and cant wait to hear more of your plans!

ch4rly2002

Thanks for the lovely comments guys.

Well, FIL got some answers to his questions, but some of them were unclear or seemed to be skirted round so we still need clarification. He's going to send back some more questions and hopefully we can get a clear answer to help with his assessment. Currently, it looks like the business is in a break-even / little profit situation, but that's with assumptions so he needs to get some real answers to figure that out, then we need to decide if we think we can grow the business to make it profitable (it has been profitable previously, which is why FIL wants to know what has changed as the accounts given aren't complete), and if we want to buy the business, what offer to make. I have so many ideas for developing the business and quite frankly would love to leave my current job, so I am eagerly awaiting their answers and FIL's assessment. As I'm sure you can tell from my previous responses - I am not the most patient person!

Dad's feeling better after a course of antibiotics. His chest has cleared up and he isn't as drowsy. He's still sleeping a lot, but I'm so pleased that when he is awake he's a bit more with it. The manager was telling mum that she'd had to take on a fight for my dad. He takes some tablets that are huge and part of his condition is that he can no longer swallow. The doctor refused to prescribe the liquid version and instead told the nursing home to grind up the tablets and make him chew them - not only would they taste horrible, but it says on the packet not to crush them (they don't get absorbed in the right part of the body if you do). Luckily, the manager is a fully trained nurse so she knows all about it. After the doctor refused to prescribe the liquid form a second time she has contacted the prescription service and they have agreed to let dad have liquid and she is going to complain about the doctor for being unethical. I understand that the liquid form is more expensive so you can't go prescribing it willy nilly, but when there is a medical need it is just wrong not to prescribe it. I am so glad there is such a lovely lady at dad's place looking after the residents

The in-laws went to check out a local car boot sale at the weekend that was recommended to them and it looks good so we're going to have a table there next weekend. I have a lot of de-cluttered items that I need to get shut of so I will be glad to give up my Sunday in exchange

eBay sales are steady. I sold a silver bracelet last week and made about £55 after all the fees, so a good sale for me. Unfortunately the money will be gone this week. I took a lot of my jewellery into our local jeweller to get written valuations for insurance purposes. I always use them but when someone who works in the trade recommended them I felt much better. I know some places charge you a percentage of the valuation, which makes me think that they'll bump up the price to earn more. Luckily this guy charges £6.85 per item so I feel more assured about that. I realised when I was renewing the home insurance that I don't actually know what a lot of these items are worth now, and quite a few have been gifts or passed down the family so I have no receipts for them (which the insurance company insisted on when the in-laws were burgled) so I think it will be money well spent. I have taken photos in advance and have created a file with all the receipts and photos. I've put together a spreadsheet listing our more expensive items so that if we are burgled I can check against the list to see what's been taken and what hasn't, and provide the list to our insurance company. I certainly don't think I'd be calm and clear headed enough to know if I was upset following a burglary so I'm preparing it now.

That's all folks