Only freedom will do

Polly_Wolly_Doodle · 4 May 2014 at 7:21AM

Morning Ed, this is really interesting. I've been listening to Dave Ramsey too much but you are right about the US in terms of house prices. But in this country we have such a variety of property that we can't really compare and some of that housing stock is so highly valued by international investors and some of it is given away at auction for £1 so the average house price doesn't really mean much at all!
But for most who live in their investment it means the return doesn't really exist in a meaningful way, unless you're my mother who bought and sold continually ( there's always an exception to the rule!). So diversification is the name of the game but you need to build from a solid safe base and take your risk / return exposure seriously.

Subscribed:T

Thistlewhistle · 4 May 2014 at 8:53AM

Hi Ed,

Glad you're back with a vengeance. You've helped me out a couple of times in the past with some really sound advice so it'll be nice to support you back!

I lost my job back in 2009 but found a self-employed role which is just the most amazing thing ever and I feel so much more settled now my work life is so rewarding. I know just what you mean about the rat-race of work politics and having to take instruction from people who are useless and have scant idea about how to manage people respectfully. So being made redundant, although scary as anything at the time, was the best thing that ever happened.

I started logging ALL my in comings and outgoings at the beginning of April 2014 - right down to the 1p change which I pop into the RNIB box in my local paper shop, my eyes were opened to the amazing amount of unnecessary spending I do. Good luck with yours.

I'll be subscribing, because your journey is going to be amazing to follow.

Thistle:D

Secret_Saving_Squirrel · 4 May 2014 at 10:39AM

All the very best. Wise comments with which I wholeheartedly concur. Very good luck on your journey,

Squirrel x

LydiaJ · 4 May 2014 at 11:36AM

Hello Edinburgher :hello:

Good luck with all your plans. Especially good luck with finding a job that doesn't suck. It's a long time since I was in a job I hated, but I will never forget what it feels like. Some people do find jobs that they really enjoy - not every minute of every job-related activity, but enough of the time. You can be one of them.

I found this book helpful. If you work through the process thoroughly, it's a fair amount of work, but you end up with a much better understanding of what might be satisfying for you. (The book reckons that you need 70% of your work related activity to be satisfying in order to find the job satisfying overall, IIRC.)

skint_spice · 4 May 2014 at 4:43PM

It's hard because there are good and bad things in every job - at the moment I love dealing with the public and hate grumpy boss but with previous job I had lovely boss and colleagues but job was mind numbing (all those KPIs you love so much). I would love to be self employed but will then probably worry myself silly over money:o

edinburgher · 4 May 2014 at 7:35PM

Ah KPIs, they're the only thing keeping me in a wage far better than I deserve :rotfl:

Luckily the execs pretend they care about them, so I keep churning oot the graphs. I actually got an incremental pay rise of a few £££ last month, felt like a total phoney!

KitchenAid has bids (up to about £50, several different bidders), went for a 6 mile jog this morning and Mrs E and I spent much of the afternoon/early evening at our local with a broadsheet

Hope everyone else is avoiding the stream of adverts telling them to work on DIY during the bank holiday?

Contributions made to all the usual pots, stripping some more lines out of the budget. In time, our budget should read:

Mortgage
Food
Beer
Other

Thistlewhistle · 5 May 2014 at 8:11AM

I don't go in for DIY - Destroy it yourself.
Cut out the middleman and just pay a professional. It's always cheaper if they don't have to undo your attempt first! Lol

RoaringTwenties · 5 May 2014 at 8:28AM

Ooh KitchenAid lovely lovely KitchenAid :T. To be honest Ed I stopped listening to all the financial stuff when you mentioned The Iconic Kitchen Gadget. I have one, the boring white Classic, I lurve it. Consequently my thighs have a lot to thank it for too :rotfl:

Good luck with the auction :beer:

HelenDaveKids · 5 May 2014 at 10:23AM

Im quite sad, I love a diy project, although I luckily have a Dave, would recommend getting one, friends often comment how lucky I am, very handy and can turn hand to virtually anything..

westie660 · 5 May 2014 at 11:23AM

hi edinburgher,

I am usually a reader of threads, and don't tend to contribute much, but your first post has struck a chord with me! Life is definitely too short to be stuck in a job that makes you unhappy. I am 48 and still don't know what I want to do when I 'grow up' lol. But, I DO know that I don't ever again want to be stuck on the treadmill of 9-5 to pay the bills! It can be a miserable existence, and is simply not worth the stress.

Thankfully, both myself and my lovely husband woke up to this fact over 10 years ago, and have since been able to create a much more 'freedom' based lifestyle. To be honest, it has involved a lot of hard work (and some sacrifice) along the way, but it was absolutely the best decision we ever made. We are now at a point where we have our own home, plus two buy to let flats (all mortgage free), good emergency fund, decent savings and investments, and absolutely not one penny of debt owed to anyone. And most importantly of all....we have freedom! I sleep easy at night, without any stressing about money....and that is priceless to me.

We are both now working for only 6 months of the year.....we work for the summer months (May-Oct), and then head off abroad to the sunshine for the winter. If we do now have any hassles at work, we are far better at just pushing them out of our heads, because we know that in another few months we'll be back on the beach! :T

Of course, part time working means part time wages, but it is not what you make that counts....it is what you keep! I am a great believer in that, as I know many people of a similar age who have great jobs with seemingly huge salaries, but who are up to their eyes in mortgages/car loans/credit card debt etc.....it constantly amazes me.

We now live a pretty simple life....we embrace the joys of decluttering! Everything just feels fresher without all the crap that we humans surround ourselves with....after all, it is just stuff, and we don't really need any of it! But it can also be this very 'stuff' that keeps us running on the work treadmill, unable to get off!

So, well done you....you have seen the light at a young age, and can now work towards a future that makes you smile. I will follow your thread with great interest. Keep us posted on which direction your investments take.....I myself have veered more towards property, and away from stock based investments (after being burned a couple of times), but I guess we all just have to go with our gut feeling. I think a good mix of investments is the key....not putting all of ones eggs in the same basket!

Sorry for rambling on so long....I only meant to drop in quickly :rotfl::rotfl:

Best of luck with everything......Westie

Only freedom will do

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