CUK Success Barometer: Retirement Survey

[DimPrawn]

Seems like there's two massive icebergs to avoid along the ocean of contracting.

1. HMR&C - They can bankrupt you instantly with their magical ability to retrospectively change all the rules, and with the guilty until proven innocent tax system.

2. Divorce - This is easily avoided compared to 1 by simply NEVER EVER getting married.

If you can dodge these two, no IT contractor should be needing to work again past 50. With BTL and other HMG backed investments there's really no excuse.

HTH BIDI (for some)

[pjclarke]

Seems like there's two massive icebergs to avoid along the ocean of contracting.

1. HMR&C - They can bankrupt you instantly with their magical ability to retrospectively change all the rules, and with the guilty until proven innocent tax system.

2. Divorce - This is easily avoided compared to 1 by simply NEVER EVER getting married.

If you can dodge these two, no IT contractor should be needing to work again past 50. With BTL and other HMG backed investments there's really no excuse.

HTH BIDI (for some)

3. Children (Unit price £200K)

[I just need to test it]

Although I took a huge hit following my divorce I reckon it saved me money in the long run.

Wife #2 is a financial whizz, as well as having her own house and teeth, so I've bounced back better than I'd ever have anticipated.

Retirement plans (I'm early 50s). I reckon I will slide into semi-retirement by 57, just picking up the odd contract when I can be bothered.

[DimPrawn]

Although I took a huge hit following my divorce I reckon it saved me money in the long run.

Wife #2 is a financial whizz, as well as having her own house and teeth, so I've bounced back better than I'd ever have anticipated.

Retirement plans (I'm early 50s). I reckon I will slide into semi-retirement by 57, just picking up the odd contract when I can be bothered.

Brill thought that. He also thought that for #3, #4 and #5.

[DimPrawn]

3. Children (Unit price £200K)

Not sure why people think children are so expensive. If you are wasting money on private schooling, then maybe.

[clearedforlanding]

No retirement for me. Why retire when the going is great?

Earn as much as I can, shag as many hookers as I can, and when the time is right buy a one way ticket to CH

You will not get a more honest answer than that.

The Hunter S. Thompson of contracting. You could always get AndyW's mum to blow you out of a cannon.

[pjclarke]

Not sure why people think children are so expensive. If you are wasting money on private schooling, then maybe.

The cost of raising a child to the age of 21 has jumped to £230,000, or more than the price of an average semi-detached house in Britain, according to new research.

Parents will spend more than £70,000 for childcare and babysitting alone, and spend another £74,000 on education-related expenses such as uniforms, school lunches, text books and school trips.

In total, the typical parent can expect to spend £231,843 raising a child born in 2016, an increase of 65% since 2003, when the analysts at the Centre for Economics and Business Research first calculated cost figures for parenthood.

The figure is for a child attending a state school. Parents who send their offspring to a private day school can expect to wave goodbye to more than £373,000 by the time he/she hit 21, rising to just short of £500,000 if the child goes to boarding school.

Cost of raising children in UK higher than ever | Life and style | The Guardian

[FatLazyContractor]

The Hunter S. Thompson of contracting. You could always get AndyW's mum to blow you out of a cannon.

How big are her tits?

[clearedforlanding]

Not sure why people think children are so expensive. If you are wasting money on private schooling, then maybe.

The only tried and tested consistent form of social mobility in Britain is private schooling. It's more of a £400k investment on top of the £200k.

Should it be this way? No. Is it? Yes.

[Scrag Meister]

I reckon I could give it a good go now, but would be bored, so am thinking somewhere between 55 and 60.