Being financially independent

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.

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.

Millsy why the S&P specifically?

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

C_J The Tesla price?

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

That was already pretty obvious.

C_J

Amps yesh

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.