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A few months ago I tried to be matched to an independent financial adviser using unbiased.co.uk. In the end I never was. I guess my net worth was too small to be worthwhile. Perhaps it was a way for me to be reminded that, in the grand scheme of things, I don't really have that much.
You see, back in 2013 I was between jobs with a total £7.5K debt (OD, bank loans & CCs). I had calculated that I had just three months before I was going to be effectively bankrupt. But then I managed to catch a break and got a job I enjoyed working with people who were not like the bunch of 'canutes' I had worked with elsewhere. A lot of hard work few promotions later I'm earning a respectable wage, by no means good or comfortable.
All that wouldn't be so bad, but it has to be taken in context that I'm now nearly 50yo. I have always rented and TBH not the most practical person around. I don't even drive. So the realities of owning my own home, while exciting and liberating, fill me with a level of reality-dread. While I would love to own the same type of three-bedroom suburban semi I grew up in, I know properties take a lot of looking after and beyond wallpapering and painting I don't think I'd be any good at DIY, e.g. tiling, re-building a garden fence or paving a path.
From a position of dire debt, I am close to having £36K in savings accounts, including a HTB ISA, and no other debts. One day it feels like a decent amount, the next I'm brought back to reality and realise it's nothing like the sort of figures on here talk about, with hundreds of thousands in investments and pension pots. And, of course, it isn't a lot: I don't own my own home and my savings will still leave me needing a sizeable mortgage over a short term given my age.
One of the reasons I wanted to speak with an IFA was because I had been looking for a suitable property to get a mortgage for but hadn't found one and it felt that the likelihood of me finding one was very low. So I wanted to find out what best to do with my money in the meantime but having no knowledge of investments. Anyway, with savings interest rates tumbling I'm shuffling my savings from one account to a new one every few weeks and not really knowing what more to do...