Future Proofing my life: Deposit saving then MFW journey in under 13 years

PennysIntoPounds

Lovely PB win!

Watty1

Great PB win (off to check mine!)

LadyWithAPlan

TallGirl said:

Great round up such a shame about those unpaid invoices but still good progress saving for your future self. It is good to have a 10 year timescale when investing and buying by drip feeding sounds like good practise in times like these.

I do hope you get the flat legal issues sorted out so you can start looking at flats again. Not having to pay rent in retirement must be the biggest MSE thing you can do for your future self unless you plan on continuing to work. My ex father in law worked right up to he dies aged 95 so crazy. We are all rooting for LWAP to have a mortgage and a home of her own soon!!

I am kind of rooting for myself to somehow buy with no mortgage / the idea of that huge payment each month argh ..and the hoops I will have to jump thru to get a mortgage  but Tx for the encouragement - the sentiment is great 

My one career strand I am planning to do into my 80s health allowing as I get huge joy from it and it helps others so . 

We are still in a holding pattern on the flat - just had some stuff thru  that heralds they understand this is not going to be quick fight and we have a huge case so .. I honestly think we will not need in court for the full case til this time next year -& upside my rent stays the same !  Plus the longer it takes the more I can save 

savingholmes

Great you can save meanwhile. 

Well done on sipp investments. 

LadyWithAPlan

PennysIntoPounds said:

Lovely PB win!

Watty1 said:

Great PB win (off to check mine!)

Let’s hope we all won  or much more to come...

savingholmes said:

Great you can save meanwhile. 

Well done on sipp investments. 

Indeed and I have gone further..

Now taken £3375 out my PB's so my PB balance is £10k  - annoyingly not received the funds in my bank yet  to add to SIPP so ended up 
moving £1k from my MB float 
moving £1k from flexible cash isa
moving £1080 from cov regular saver that finished 
Added initial  £3111.8 to make £6k SIPP contrib for the year 

Then  looking at the tax advantages.. I found some more £'s in cash
Moved £400 from MB float
£900 from cash in current accts 
So this makes £7300 SIPP total contrib 24 /25 


helping friends with state pension ni missing  years ..   this last few weeks - its v clear how we all (myself included) when one is self employed or have a creative/freelance jobs that in the moment our pensions seem v far off - especially in our 20s/30s and that can come back to bite us later. Its easy to skip voluntary NI payments when one is travelling.
The fact I accidentally have a £7k  pa DB is a miracle - part of the job compensation I took no notice of at the time but when I am older I will appreciate


The amount of my friedns I see who have  consistently made £50-£70k or over £100k  a year or more and not done any planning for the future .. nor got their mortgage down is scary. Covid did hurt some of course a lot, putting people into debt but as always when one does not focus on a budget it is very easy to overspend especially when income goes down. I have certainly made that mistake in decades past so had to learn it earlier.
I saw people in my career (banking ) just working and splurging and their overheads were insane with the family holidays, private schools, range rovers  etc so they have to work 60 hr weeks to feed the huge bills  or  then going thru divorces and they are bitter on the wealth they lost/had spent

A friend  is  going thru a divorce and realising she  has made no plans for her future .. the OH is refusing to pay any money now for months .. they have kids - it’s a mess.   She has never really worked, his business is failing  ... so what she will get from him could turn out to not be much..  This is where to me being a SAHM holds a real risk, it shouldnt be that way but practically often is as she has no obvious way to get a decently hourly rate around her looking after kids etc coming home from school etc.. so worrying 

LadyWithAPlan

Vanguard site is down
Just looked at my Vanguard S*S (down  nearly £5k in last 3 months so 20%) and went to look at my larger SIPP which was bad enough last week but the Vang  website is crashing so not giving any info nor able to buy £100.. obviously loads people looking at the damage caused..
I have a few thousand waiting to be invested - its in cash at present in there but drip fed a bit in last week Monday and Friday but will maybe add a few hundred every few days..   
However if one cant access the site to invest (I can see headline figures but the invest button just gives me an error)
EDIT: back on 2 hours later

TallGirl

I do feel for your friend with the divorce I do not have kids but I cannot imagine having to give up my career and rely on someone else. I do not know anyone who has done that in Denmark because child care is so subsidised there is no need but also no one can afford to not have a second income as due to the tax no one is a really high earner. I have never understood the private school thing but then again some people do believe in it. 

Shame about your Vangu** but as you say it could settle down and panicken is no good either. I hope you get access soon but it is probably and update to show it is the new tax year now so I would not worry too much. Annoying you cannot add but maybe best to wait a little bit. 

Watty1

Nice work seeing the upside of a legal battle that may be drawn out. You could indeed save more which will add to your impressive total.

LadyWithAPlan

TallGirl said:

I do feel for your friend with the divorce I do not have kids but I cannot imagine having to give up my career and rely on someone else. I do not know anyone who has done that in Denmark because child care is so subsidised there is no need but also no one can afford to not have a second income as due to the tax no one is a really high earner. I have never understood the private school thing but then again some people do believe in it. 

Shame about your Vangu** but as you say it could settle down and panicken is no good either. I hope you get access soon but it is probably and update to show it is the new tax year now so I would not worry too much. Annoying you cannot add but maybe best to wait a little bit. 

Yes I think the world COL and finances makes SAHM/D very difficult unless one is v wealthy. Its the lack of control and personal financial security that would get me and I am sure is part of why I chose to not have kids. Seeing too many people stay in unhappy or dangerous relationships for financial reasons/welfare of the children is understandable but scary to see as a teenager. However for those who want/have  kids they should be able to have them with the fall back of  proper subsidised childcare.   I think my friend assumed she'd be ok  and is now resorting to selling on vinted to get extra money in for food for her and the kids...

@Watty1 tx yes it has to be about saving. I worked out my daily rent exc CT and bills - £37.808 - ouch!  still about the same as my interest on a mortgage  and this excludes my interest income on my deposit. So from a pure maths perspective the renting is still working but plan is 100% to get through this legal stuff then buy, I dont plan to rent again

Re Vanguard I just wanted to add a tiny amount in to VHYG (high dividend yield accumulation)  ... I have now got in but had missed the absolute bottom as its bounced up. No real stress but my plan is now  adding the over £4.5k now sitting there waiting to invest in dribs and drabs.  I am  adding now in £400 lots into emerging mkts, Europe, Asia /Australia etc - staying away from US as think that will continue to fall lower against the rest of the world - this kind of instability Trump has brought means that I think US Treasuries, $  and US Shares  are now in for a relative fall against the other mkts, he really has damaged the appeal for US investments  for everyone -be interesting to see the long term. I also see all the data re falls in tourism to the US from everywhere, he has done a TRUSS 2.0 as at least we could get rid of her.

I note that the s&p 500 went up 8% then down by 3.5% in a matter of seconds one day according to a Guardian  linked  tweet here  based on a rumour quickly discredited that Trump would pause the tariffs which did happen a few days later... Glad I am not a day trader..

Baby Crypto watch - this has also collapsed ! My total investment of £145.66 last year over a few months (Summer 2024) went up to £221 at Xmas 24 and is now at  £165 (was £141 one day last week)  I am fine as small amount and its my learning experience but  again though many people have seen huge losses. I think very long term the argument  is being now strengthened about crypto being a better place to have assets than a currency tied to a country and its presidential whims, one of the big 'theories/reasons' for crypto means I am planning to keep adding small amounts into it.

HAPPY SUNDAY ALL

LadyWithAPlan

so I am keeping a loose eye on my Vang**** - at one point  last week (combination of sipp and s&s ISA) I was down over £11k but it has climbed back - so mkt lossses are ...

Feb  25 −£1,595.47

March     −£3,920.04
 

April (16th)  −£3,659.70

so down £9175.21 from end Jan on mkt movements
Current £83,166 

This excludes income and added contrib .. I have been feeding drips into the SIPP of £100 - £400 each - the last 2 weeks -  largely everything apart from US although some funds inc the high dividen one has some US in..

VAN CASH - I still have £3.5k in there to add in these drips  but I note the interest is only 2.2%...

Work invoices
I had a clear calm but focused call with the director whose company owes me loads. There is a large sale come through and we are waiting for payment from a 3rd party and i have been promised a decent lump sum when that comes in.
I am mentally prepared to keep the invoices running collecting interest but to not work for them any more and i think that came through. So we will see. He  stated he trusts my maths over everyone's so he /the company needs me -  I have said though how the levels of invoices are too high and its becoming a major issue.


I have a great side hustle summer coming so had someone come over today to move a lot of the graphics necessary forward  (so a quick office tidy beforehand)  - they are a great friend as well so it was a productive and fun day. Plus i have clarity for next to-dos.   There are a lot of moving parts as I am travelling from one place to another so more logistics to organise
I want to spend some cash on press/ADS but waiting to see some money come in next week.


I made a corn fed chicken stock yesterday so then extended that into a thai veggie green soup - had loads of veg from edamame beans, sugar snap peas, shitake, red peppers, fresh lime, chilli and coriander plus rich coconut milk  - served with grilled chicken, peppers and broccoli ... 

ISA - i opened another cash isa to move some cash in - I now have 3 cash isas - their money all have separate jobs and they are all flexible isas.  I opened the CMC Invest that MSE mentioned - 5,7% for first 3 months plus then 4.8 so ..

MB  /casino  I am having some decent size daily wins there.

Declutter
I am feeling still like i have too much stuff round me so I have listed  on FB and locally an office chair I have never used that was a gift from a neighbour who hardly used  it either... 
I di give to CS 3 pairs shoes I never wear plus 2 skirts but the wardrobes are  full of stuff  still so a big job I like to tackle slowly