Just to add, obviously I won’t be doing amy of the above and will be spending all my cash on hoes and whizz.
Being financially independent
Lol
Buy your property in the early 2000s and take a big redundancy around 2013 and get your old job back on better terms three months later is one of my major tips.
Other than that, I was really shit at saving - I’ve got to the point where I don’t have debt anymore and love spending money on bikes and holidays. I’ve started putting money into stock ISAs for me and the missus and I’m saving money, but I don’t know what to do with it - I’m too anxious to invest in stocks and shares - I’ve seen a financial advisor and he’s taken me down all sorts of tax-avoidance rabbit holes, and I’m not interested in that.
Pension side of things are okay just about, but won’t see that til I’m 60, so it’s a case of how much I can save/invest between now and then as to how early I can retire. One thing this crisis has taught me is that I don’t need as much as I think I did. I want out in three years tops, or at least be in the position to do something I’d love to do
Definitely max out the pension, 100%
Along_the_Wire One thing this crisis has taught me is that I don’t need as much as I think I did.
that’s been our takeaway too. we’re both discussing working 4 days a week as an on-going option.
Do you guys have personal retirement savings in addition to pensions in the UK? Here, we’re offered the option of contributing to a company sponsored retirement program (which some companies match up to a small percentage and you are entitled to their contribution after a certain period of time) and also allowed to hold a personal before or after tax retirement account outside of that.
If you have access to both of those options, I would suggest maxing out both, as well as investing in stocks, bonds, etc. Additionally, if you own property, I’m sure that would be worthwhile as well. (Obviously I don’t own property…lol).
But most importantly….don’t forget to stuff your walls with cash, run a prostitution ring and import/export drugs…that’s your REAL retirement sorted. 
Along_the_Wire I’m too anxious to invest in stocks and shares
Like gambling, don’t invest what you can’t lose. If you do have a flutter, now is not a bad time to do so, lots of companies with ‘false’ low stock values due to Covid that will bump up once the recovery is in full swing. I still reckon Tesla is easily undervalued at $1300 a share.
Jules72 Oh, some of those stocks might take a decade to get back up, but I think even with out a vaccine, if we keep the R-rate down etc. I think it will be quicker than that. I’d never buy stocks for a quick return. Also, have to mention, I know fuck all about anything, these are just my thoughts, nothing more.
C_J Nah, nothing I know, just gut feeling. But they are outselling everyone by a mile and really they are just starting out:
The competition don’t want to sell you electric cars yet and might not want to for a while, so everyone is voting with their feet, add that to their charger network, they’re in a good position. Industry chatter of some manufacturers going bust if such a trend continued.
I proper know fuck all though, please don’t anyone buy anything based off my comments apart from trabbs and obscure 90s breakbeat, I know loads about them.
Decent chart mate.
It’s amazing how slow the Electric car movement is taking off and the government won’t subsidise any EV over £50k which most decent ones are. Definitely a ploy by the big manufacturers, but most people buying a new car want one now they have a 300 mile range. Why bother with a hybrid, all the problems of maintaining a petrol/Diesel engine, but heavier and more expensive. It’s a delay tactic, and studies have shown most people can’t be arsed charging them.