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My very ambitious way to get £60k in 48 months…

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  • Contro1
    Contro1 Posts: 82 Forumite
    10 Posts Name Dropper
    edited 10 April 2023 at 3:18PM
    Sg28 said:
    Contro1 said:
    If your making £45 an hour, forget everything else, work 12 hours a day 6 days a week and milk it whilst you can.
    Yes, I plan to do this.

    this week has been a bit slow for me, no I don’t take a week for quotes. What I meant was that because it was slow I sent quotes out as I was quiet. Ie. Ones that I have seen for a few days ago and settled up.

    I’ve had 3 accepted so far, all modest I guess and wouldn’t take ages to do but values are important. 

    You see I sat behind a desk for 15 years and well, thank Christ for covid really kicked me up my backside to go and learn a trade. Yes unfortunately to have it (twice I may add - and with the unfortunate way the UK handled it) however I now have the knowledge to do stuff that people do not like doing.

    People around me are genuinely very happy to pay me the rate I want because I’m a lot cheaper than the 3 guys doing it all the time.

    if work drys up I’ll go work on a building site for a month while advertising. I’ve got work all over the place for “gaps” which is lucky. 

    What sort of electrical work are you doing? I'd love to £50 an hour. What qualifications have you got/working on?

    I don’t get £50/hour yet. I am only £45.

    I hold my 18th, level 1 through to 3, I’ve done my 2391, I’m doing nvq and am2e to finish off 

    I do a mix of commercial / domestic work 
  • Contro1
    Contro1 Posts: 82 Forumite
    10 Posts Name Dropper
    This is one of those threads that I have difficulty with. The plan is so bizarre that it might be a troll, but if it is true the red flags are including friends and an overly optimistic attitude to risk and a short term approach. There are plenty of sensible ways to save money and get some return through investments and they tend to be quite boring
    yes I’m definitely not a troll that’s for sure. 

    again, the loan repayment from the friend it was risky but there finally paying me back 
  • Contro1
    Contro1 Posts: 82 Forumite
    10 Posts Name Dropper
    eskbanker said:
    Contro1 said:
    crypto has now got a value of around £980, in play instead of £1530 now, purely because the market is absolutely flat at the moment anyways so decided just to transfer it out.

    i have made the choice to withdraw £500 and to fund an FX account.
    😮 Wow, you really weren't kidding when you were talking about high risk....


    Just bare in mind what my inital investment was into the market.
  • eskbanker
    eskbanker Posts: 36,993 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Contro1 said:
    Just bare in mind what my inital investment was into the market.
    Why?  My point wasn't so much about selling crypto but going into FX trading....
  • Contro1
    Contro1 Posts: 82 Forumite
    10 Posts Name Dropper
    eskbanker said:
    Contro1 said:
    Just bare in mind what my inital investment was into the market.
    Why?  My point wasn't so much about selling crypto but going into FX trading....
    it’s a small amount to lose if all goes pair-shaped.

    My original investment was very small in to crypto and i will make it up to where it needs to be again.

    when the money is loaded and when work starts I’ll update weekly on it.
  • Contro1
    Contro1 Posts: 82 Forumite
    10 Posts Name Dropper
    Contro1 said:
    eskbanker said:
    Contro1 said:
    Just bare in mind what my inital investment was into the market.
    Why?  My point wasn't so much about selling crypto but going into FX trading....
    it’s a small amount to lose if all goes pair-shaped.



    Nevertheless, rather yours than mine!
    As again; I’ll keep updating as soon as I know more. 
  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 10 April 2023 at 4:45PM
    Contro1 said:
    eskbanker said:
    Contro1 said:
    Just bare in mind what my inital investment was into the market.
    Why?  My point wasn't so much about selling crypto but going into FX trading....
    it’s a small amount to lose if all goes pair-shaped.

    My original investment was very small in to crypto and i will make it up to where it needs to be again.

    when the money is loaded and when work starts I’ll update weekly on it.
    Don't waste resources on speculation. Keep things simple and consistent rather than betting on things. Your investing plan is high on risk and probably stress too. Take it easy, follow a simple plan of thrift, tax efficiency and regular investments in a few tracker funds and you will do ok.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Band7
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    Contro1 said:
     

    pension has no end value as I’m still young so will just add what I need into there 

    I just hope your older self will not ask you one day "I wonder how much more I would have to live from if I had put more into my pension earlier".

    Hopefully your accountant will explain to you how you can save tax by making pension contributions. And also how important it is that you build up your NI years for your state pension, as well as other benefit, entitlement.
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