Being financially independent

Old-Dutch

Lol

303abuser

Millsy my only suggestion is to find a financial planner you can trust. unless you’ve got a particular expertise, you’ll do much better in the long run that way.

C_J

303abuser I agree with this. They’re often cunts though. A good won is worth his weight.

Along_the_Wire

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

303abuser

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.

Amps

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.

Along_the_Wire

Definitely max out the pension, 100%

Dan

303abuser At least we all know what retirement is like after COVID.

Kells77

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. 😉

C_J

Amps based on what? Not saying you’re wrong, just want to know whether you know something I don’t or if this is just a gut feeling you have.

Jules72

Amps if a fully effective vaccine is found this year then maybe… but most professionals thought the market was bloated 20% below here - hardly a no brainer to be long stocks imo

Amps

C_J The Tesla price?

Amps

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.

C_J

Millsy why the S&P specifically?

Millsy

C_J a passive tracker with low management charges over time should see a decent return.

C_J

Amps yesh

Amps

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.

hugopal

Amps Also, have to mention, I know fuck all about anything

That was already pretty obvious.

hugopal

Amps But they are outselling everyone by a mile

As much I like what Tesla are doing and wish them success, they’re not - that graph you posted does not support your claim. The biggest sellers in the US are SUVs, the biggest selling car in the same period as you posted there was the Ford F-Series which sold 5x as much as the Model 3 with 233,787.

Toyota also had two cars which sold double the Model 3 - the Rav 4 and the Camry (in fact, Toyota had 5 cars which outsold any Tesla model).

The trend seems to have been continuing in 2020 so far as well.

See here:

https://www.goodcarbadcar.net/2020-us-vehicle-sales-figures-by-model/

Amps

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.

C_J

Decent chart mate.

hugopal

C_J Decent chart mate

It’s actually not very good. See above.

Hursty

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.

Amps

hugopal All fair points, lies, more lies and statistics etc. They have a pick up truck on the way though, I think that might have an effect on the SUV / pick up / 4×4 market, but who knows. I still think with that world wide charger network they are at least ‘handily placed’ and have room for more growth in the stock market.