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    • edinburgher
    • By edinburgher 2nd May 14, 3:58 PM
    • 11,093Posts
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    edinburgher
    Only freedom will do
    • #1
    • 2nd May 14, 3:58 PM
    Only freedom will do 2nd May 14 at 3:58 PM
    It has come to my attention that I have been here for a very long time

    I joined these forums in a dim and distant past, where money was my enemy and the weight of my student debts left me crushed and panicked, unable to picture a future where I would be able to get a debit card (never mind a mortgage).

    5 years later and the milestones of marriage, first home and first car have come and gone. Throughout it all, I have had a creeping feeling that something wasnít quite right. I donít get the world of work, and while Iíve never been unemployed in my adult life, Iíve tried too hard to try my hand at too many things and Iím left feeling like Iím an actor who recognises the play, but does not understand his motivation.

    As some of you will know, I have experienced some real heartache of late. Your messages of support and hope have been so touching and in many cases, I have got more comfort from anonymous individuals who took the time to get in touch than people I know in the Ďrealí world.

    While money would have done nothing to prevent it, the luxury of savings and our hard work over the years meant that we were in a position to make the right decisions and take our time with our next steps. Returning to work has been a real blow and without sounding even more melodramatic, I donít think Iíd realised just how damaging I find the merry-go-round of rote work, office politics and bureaucracy.

    It wonít do, I canít believe that this is as good as it gets and to quote one of my favourite singers ĎWe can always build a world better than thisí.

    From this point on, I plan to dedicate myself to achieving financial independence. Not MFW, but freedom from all the nonsense that we go through to just to pay for a pile of bricks and a few years of leisure at the end of our span.

    Hopefully you can join me for the journey
Page 251
    • edinburgher
    • By edinburgher 29th Sep 16, 11:40 AM
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    edinburgher
    Who said that I was trying to move to a job I thought that I'd like? My current thinking is better the devil you know - I'd like to grow some skills for the job that I'm supposed to be doing - computers and stuff. I am not happy, but I don't think that a Gatsbyesqye quest for work fulfillment will resolve that. I want out, retaining a reasonable white collar wage makes that possible.

    That and some books on stoicism

    Pretty sure DD will be slagging off my taste in music in 10 years, not the other way round "you're too old to listen to post hardcore Dad!"
    • Karmacat
    • By Karmacat 29th Sep 16, 12:08 PM
    • 29,002 Posts
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    Karmacat
    Who said that I was trying to move to a job I thought that I'd like? My current thinking is better the devil you know - I'd like to grow some skills for the job that I'm supposed to be doing - computers and stuff. I am not happy, but I don't think that a Gatsbyesqye quest for work fulfillment will resolve that. I want out, retaining a reasonable white collar wage makes that possible.

    That and some books on stoicism
    Originally posted by edinburgher
    Oops, read too much into your original comment!

    Known devils and stoicism are good options for savvy people

    Pretty sure DD will be slagging off my taste in music in 10 years, not the other way round "you're too old to listen to post hardcore Dad!"
    That too
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    Retired August 2016
    • themadvix
    • By themadvix 29th Sep 16, 12:33 PM
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    themadvix
    Hi Ed,

    Have finally read through your thread from the beginning - I've learnt SO much along the way and plan to put it into practice very soon (after more reading in some cases). Thanks for all your clever investment knowledge and thanks to everyone who has asked 'stupid' questions - I can guarantee that I was sitting there thinking 'I don't understand!'.

    Your daughter sounds adorable, apart from the not sleeping thing!

    Subscribed!
    OPs 2017 = £3103
    S&S ISA 2017 = £626
    OPs 2016 = £6142.12
    Starting balance 2012: £132000; balance Dec 2017: £96,822
    MFW2017 no. 38
    • edinburgher
    • By edinburgher 30th Sep 16, 3:38 PM
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    edinburgher
    @ themadvix - thanks for your kind words, still feel like I'm learning every day, it's hard work this being a grownup!

    Grim daddy daughter day - torrential rains, small floods, DD grumpy and sleepy after getting up at 04:00. Tried to take her swimming, but she just cried and cried when she saw her suit, so gave up and ran errands instead. Paid in a cheque, collected some parcels and felt sorry for myself, so bought a bag of chips.... Only to drive past a friend cycling in the !!!!ing rain! Some people....

    Boys night out with my local siblings tonight, so once Mrs E gets over her bad mood because I encouraged DD to take an afternoon nap, I should be home free

    Made a few small P2P loans too.

    Right - really should go and start waking up sleeping beauty!
    • edinburgher
    • By edinburgher 10th Oct 16, 4:31 PM
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    edinburgher
    Taking our first faltering steps into the low interest world. For now, I suspect that I'll do nothing with my S123 account, for the minimal amount of cash that is held in it at present, it just isn't worth the hassle.

    Our T5B regular savers mature in a fortnight and DD's cash ISA rate drops at the start of December. The T5B account money will fund our new fence, replacement doors for the house, new carpets, the plasterer for our 2 remaining bedrooms and some of the cost of having our new radiators fitted. That will pretty much be us for 2016, cannot afford to commit to anything else for the moment!

    DD's cash ISA will be transferred into a S&S JISA with Ch@rles Stanley Direct and the bulk of her nest egg will remain invested in my name for now.

    We have had to resign ourselves to defaults of a few hundred pounds spread across a few P2P sites and are now winding down this particular adventure with the exception of saving Stre@m and M0ney Thing.

    Exhausted after a week of daddy daughter time, back at work for a rest
    • Greying Pilgrim
    • By Greying Pilgrim 10th Oct 16, 4:39 PM
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    Greying Pilgrim

    Exhausted after a week of daddy daughter time, back at work for a rest
    Originally posted by edinburgher

    GO MISS E!!!!

    Greying X
    'Ich habe genug'

    'I am not in the pursuit of happiness, only in the discovery of joy' - Joyce Grenfell
    • Karmacat
    • By Karmacat 10th Oct 16, 10:34 PM
    • 29,002 Posts
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    Karmacat
    We have had to resign ourselves to defaults of a few hundred pounds spread across a few P2P sites and are now winding down this particular adventure with the exception of saving Stre@m and M0ney Thing.
    Originally posted by edinburgher
    You're gradually pulling out of P2P, Ed?

    Exhausted after a week of daddy daughter time, back at work for a rest
    No wonder you haven't been posting Hope you enjoyed it too!

    Save
    Retired August 2016
    • AlexLK
    • By AlexLK 10th Oct 16, 11:38 PM
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    AlexLK
    Sounds like all the work on the house is well planned for.

    Children can be quite a drain on energy. However, I've always found seeing my son grow and develop to be the most fascinating thing, still do though I do wish he could've stayed 4 forever. Once school starts, there's less time to spend teaching them things and I really miss him being at home all day.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • edinburgher
    • By edinburgher 11th Oct 16, 8:34 AM
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    • 59,477 Thanks
    edinburgher
    You're gradually pulling out of P2P, Ed?
    Save
    Originally posted by Karmacat
    We're in the midst of a significant flight to yield as central banks cut rates and the high street follows, pushing *savers* (not investors) into areas such as P2P, which don't have the history to accurately model the risks of whether or not they can sustain current rates in the event of another recession. As such, the main 2-3 'vanilla' platforms no longer offer a sufficient risk premium for my tastes. If the choice is a safe 2.5% (rough rate of return on a 5% regular saver) vs. 4.5% without FSCS protection, I'm just not sold.

    To that end, I am investing in riskier loans (but secured against assets) and diversifying as much as possible, only taking very small holdings of each loan that meets my criteria.

    Don't get me wrong, I am not saying that P2P has suddenly become any riskier or that it is a bad idea, per se. This decision has been taken on the basis that we only have so much capital to invest and that I need to make careful choices about where it's going. Tax advantaged and tax free accounts for equities and bonds are the 'no brainer' homes for that capital, P2P is very much a nice to have. As a retiree, P2P could still be a great home for a small %age of your money KC

    Our portfolio (such as it is) looks very different this year from last and next year it will probably be unrecognisable as we focus on taking maximum advantage of salary sacrificed pension contributions.

    Children can be quite a drain on energy. However, I've always found seeing my son grow and develop to be the most fascinating thing
    Originally posted by AlexLK
    Definitely - we are exhausted! It is funny, however, that we wake up in a good mood to DD crooning (even when it is 5 in the morning)! To be honest, I am not sure that I could do it again.
    Last edited by edinburgher; 11-10-2016 at 8:38 AM.
    • misscousinitt
    • By misscousinitt 11th Oct 16, 1:22 PM
    • 3,611 Posts
    • 20,865 Thanks
    misscousinitt
    Hi Ed

    Just catching up...been a long time since I've been on your thread.

    Glad to hear mainly positive posts and looking sensibly about our low interest future.

    Always lots of interesting investment news...wish I had the courage to take the plunge - but replenishing savings is my first priority at the moment.

    Hope to keep up now I'm up to date.

    Love all the news about your DD - she's coming along nicely by the sound of it (sleep problems aside, but I can imagine that most children go through this at one time or another).

    Take care.

    MCI
    Mortgage Free x 1 03.11.2012 - House rented out Feb 2016
    Mortgage No 2: £91,471.25 (11.01.2018)
    OP's to Date £5500

    Renovation Fund:£736.95;
    Nectar Points Balance: approx £2.50 (after microwave purchase
    • PrincessLou
    • By PrincessLou 11th Oct 16, 2:07 PM
    • 494 Posts
    • 1,918 Thanks
    PrincessLou
    Definitely - we are exhausted! It is funny, however, that we wake up in a good mood to DD crooning (even when it is 5 in the morning)! To be honest, I am not sure that I could do it again.
    Originally posted by edinburgher
    We have three year old twins and we definitely once felt this way! However, they are now three and (most of the time) wonderful and we are seeing the light at the end of the tunnel.
    • Karmacat
    • By Karmacat 11th Oct 16, 10:24 PM
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    Karmacat
    Tax advantaged and tax free accounts for equities and bonds are the 'no brainer' homes for that capital, P2P is very much a nice to have. As a retiree, P2P could still be a great home for a small %age of your money KC
    Originally posted by edinburgher
    No probs, don't worry, I'm not panicking I just know that you seem to be an "early adopter" so to speak especially as you actually think independent thoughts about this stuff, and don't just follow blindly!

    It is funny, however, that we wake up in a good mood to DD crooning (even when it is 5 in the morning)! To be honest, I am not sure that I could do it again.
    I know what I and other family members are like when we're sleep deprived - its not mood, as such, in my head, its just feeling bleeping terrible because you haven't had enough sleep so I can pretty much understand feeling good to hear the crooning, which sounds really sweet

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    Retired August 2016
    • edinburgher
    • By edinburgher 12th Oct 16, 9:31 AM
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    edinburgher
    Is anyone familiar with the book the First N@tional Bank of Dad? It's basically about a guy trying to teach his kids the power of saving by giving them a hefty interest rate for anyone money they invest with his pretend bank (say 5% a month). It strikes me as a clever way of pointing out the power of compound returns, but falls down a little as it will be hard to keep those enthusiasm levels up when his kids reach adulthood and get 0.5%/year on their savings

    I feel a bit like that with our pensions at the moment. Due to the Brexnanigans, our international-heavy pensions actually earned the same as me last month (more than Mrs E) and it all feels a bit surreal. I can't imagine how weird it must feel when you have £££,£££ invested and things are moving at the pace of a month's wages overnight

    Do any of my more mature readers have any tips for ignoring the wild swings? Just don't look?
    • hiddenshadow
    • By hiddenshadow 12th Oct 16, 10:02 AM
    • 2,459 Posts
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    hiddenshadow
    Do any of my more mature readers have any tips for ignoring the wild swings? Just don't look?
    Originally posted by edinburgher
    That's my method. DH was marvelling at his pension account's growth over 4 days last night, but I try to login to mine on the 1st of every month and ignore it otherwise. It's exciting to see the growth, but irrelevant to me as I can't access it for another 25+ years, and who knows what will happen in the meantime. I update once a month for net worth purposes, but that's it.

    ETA: DH got me to check my pension (just reached £££,£££ level) and its growth over 10 days was about what we take home every month. Cool, but only academic.
    MFW: £197,100 (2013) to £101,444 (Apr '18)
    2018 MFW #56: £3,202/£105,000 2% / MFiT-T4 #15: £58,056/£90,000 64%
    • Karmacat
    • By Karmacat 12th Oct 16, 10:09 AM
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    Karmacat
    Do any of my more mature readers have any tips for ignoring the wild swings? Just don't look?
    Originally posted by edinburgher
    Yes

    Look regularly by all means, to a schedule, and have an alert set up to monitor it, but then have a decision *made already* about what you'll do - transfer to a different fund, whatever. My business partner looked at his pension funds every day, sometimes twice a day, during the financial crisis, and it got to a ridiculous stage where he was losing sleep about it but still not doing anything with the information. Moving the money does crystallise the change, though, so its not as simple as moving - as you know, Ed, it depends on what you think is going to happen, amongst a gazillion other things

    We were all talking about this sort of thing on Sunday night (of course! three of us in our sixties, how could we not!) and for him, the worst thing of all was *still* having invested one of his major pension funds in Equitable Life where the investors got pennies on what they'd put in
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    Retired August 2016
    • edinburgher
    • By edinburgher 12th Oct 16, 10:37 AM
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    edinburgher
    The plan is to do nothing and stick to the plan

    I suppose it's the curse of the internet age, it's very easy to get caught up in an endless round of social media updates, forums and balances. It is very addictive.

    Saw this in the sidebar:

    Bank of Scotland's Reward and Ultimate Reward accounts will also pay £3/mth rather than £5/mth from next February.
    TSB Classic Plus current account will pay 3% on amounts up to £1,500 from January, down from 5% on up to £2,000.
    Damn. Damn. That's a tenner a month gone just like that.
    • edinburgher
    • By edinburgher 12th Oct 16, 11:04 AM
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    edinburgher
    Completely unrelated to anything on this journal, but just saw a wonderful comment from H.R.C. talking about the risks of social media to children in a New York Time5 article:

    When I spoke to her over the Fourth of July weekend in 2015 in New Hampshire, Clinton had clearly been thinking about the impact of new technology on human development and how people communicate. We were talking about mental health and substance abuse, two issues that a lot of voters in New Hampshire were raising with her. She described a meeting with a group that had developed online mental-health programs. One woman predicted to her that a big challenge in mental health over the coming years would be !!!8220;how to undo the damage that the internet has caused young people.!!!8221;

    It!!!8217;s striking to me now that Clinton!!!8217;s main interest in these new media technologies was not so much as a political tool but as a policy concern for the citizenry. Clinton described !!!8220;the insidious, pernicious comparisons!!!8221; that online communities can foster in young people, and the temptation to !!!8220;put out an identity online before it!!!8217;s ever formed!!!8221; in real life. Thinking about this exchange 14 months later, after what feels like a generation!!!8217;s worth of lines crossed and taboos shattered, her concern seems strangely prescient.
    She seems pretty cool
    • mrsp1987
    • By mrsp1987 12th Oct 16, 6:04 PM
    • 793 Posts
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    mrsp1987
    I imagine as they grow older the interest rates are gradually reduced but it's a great way to teach that sort of financial behaviour and knowledge to children. So many people (Young and old) just haven't got a clue! I've heard of people taking out provident loans in order to get a credit history
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £91,084.44 20 yrs left
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000
    • choccielover
    • By choccielover 12th Oct 16, 10:13 PM
    • 382 Posts
    • 1,340 Thanks
    choccielover
    Completely unrelated to anything on this journal, but just saw a wonderful comment from H.R.C. talking about the risks of social media to children in a New York Time5 article:



    She seems pretty cool
    Originally posted by edinburgher
    I agree.

    I'm thankful that the stupid things I did as a youngster stay largely in our memories and can't come back to "bite" me today. I fear for the youth of today, the stupid images, posts they put up for the world to see.
    I'm exceptionally protective of my daughters image on social media as I'm aware it's her image, not mine and today's cute baby photos or stories of her latest escapades are eminently less so when you are 25 and trying to develop a professional persona.

    We don't have Facebook, Twitter or snapchat. Though we are not technophobes, we just don't have enough time to fritter any of it away reviewing everyone else's lives. Bit too busy living our own actually....
    • Greying Pilgrim
    • By Greying Pilgrim 13th Oct 16, 8:07 AM
    • 4,171 Posts
    • 46,481 Thanks
    Greying Pilgrim

    I'm thankful that the stupid things I did as a youngster stay largely in our memories and can't come back to "bite" me today. I fear for the youth of today, the stupid images, posts they put up for the world to see.
    I'm exceptionally protective of my daughters image on social media as I'm aware it's her image, not mine and today's cute baby photos or stories of her latest escapades are eminently less so when you are 25 and trying to develop a professional persona.

    We don't have Facebook, Twitter or snapchat. Though we are not technophobes, we just don't have enough time to fritter any of it away reviewing everyone else's lives. Bit too busy living our own actually....
    Originally posted by choccielover
    choccielover - thank you so very much for writing ^ this. Me & DH feel exactly the same - to the extent that we're not bothered about the FB,T or chat apps either - although I am on Wh'app, but that's me that is on it, not my family; and I'm very much over the age of consent. But we too are fiercely protective of Baby Greying's image and 'life'. Unfortunately, we have a family member who just 'doesn't get it', and it has made an exisiting rift an unbreachable canyon, with their stance. What Baby Greying wants to do at 18 is their own affair, but for the moment, we're trying to be resolute and maintain their privacy.

    It's so nice to here someone feels the same. We've received an incredible amount of flack from family members, and not much support from our peer group who are mostly childless by choice, or who's children are 'grown & flown' and who didn't have to contend with the extent of social media access when their children were small.

    Again, thank you for saying it. You've made me feel more validated in our stance.

    Greying X
    'Ich habe genug'

    'I am not in the pursuit of happiness, only in the discovery of joy' - Joyce Grenfell
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