CUK Success Barometer: Retirement Survey

[ChimpMaster]

There are so many ways to diversify. When I got a 3 year gig in Germany renting an apartment was a hassle. 3 months deposit, Maklars (spelling)*.

Contractors on three month contracts were always losing their deposits. I placed my income in renting a number of rental studios, installed Sky TV & ISDN - later ADSL, called up all the recruitment agencies to let them know and made a killing subletting the apartments.

The biggest investment you can make is in your financial acumen. Be creative. Take risks. Mitigate risks.

*Softened up now.

That takes 3 characteristics that you have clearly identified:

1. Intelligence.
2. Effort.
3. Balls.

[PurpleGorilla]

What will you invest in if it's not stocks or property? I'm interested to know, in case I'm missing something here.

I started looking at Gold around Christmas - I'm kicking myself a bit that I haven't invested in it - but I don't want to take cash out of ISAs; and I am in a little flux right now so holding off a dividend until the warchest is a little fuller.

But having said all that, I genuinely think gold is a good investment right now, still. If the markets tank as I am predicting, it could go up to $2000, and certainly back up to $1500.

I don't have much storage space (having a small house) so looking for high value small size items would suit me.

[Chuck]

I don't have much storage space (having a small house) so looking for high value small size items would suit me.

You'll get burgled.

[clearedforlanding]

That takes 3 characteristics that you have clearly identified:

1. Intelligence.
2. Effort.
3. Balls.

You know, Ray Croc gave a famous lecture at the University of Texas in the 70s. At the end of the lecture he asked the students what industry he was in.

Hamburgers of course! They all said.

Ray told them he was in the property business. Every restaurant was a prime location property with a guaranteed paying tenant.

I don't understand why so many people find it a hard concept to grasp that contracting can be a revenue stream to create wealth through investment. I do sympathise with those who get jealous of those of us who figured it out.

But having said all that, I genuinely think gold is a good investment right now, still.

- That is speculation. Stop thinking, learn how to read a balance sheet. View money as a long-term game. The biggest investment is yourself.

Read a lot. "That's how knowledge builds up, like compound interest" - WB

[FatLazyContractor]

You know, Ray Croc gave a famous lecture at the University of Texas in the 70s. At the end of the lecture he asked the students what industry he was in.

Hamburgers of course! They all said.

Ray told them he was in the property business. Every restaurant was a prime location property with a guaranteed paying tenant.

I don't understand why so many people find it a hard concept to grasp that contracting can be a revenue stream to create wealth through investment. I do sympathise with those who get jealous of those of us who figured it out.

Classic signs of MF's socks.

HTH
AtW

[clearedforlanding]

Classic signs of MF's socks.

HTH
AtW

It is an illustration of a concept. You can invest in whatever you know about.

Here is another one:

Amex didn't make the big money off the commision on their travellers cheques. They were a vehicle for incoming cash. Average time for them to be cashed was 30 something days. 30 something days for them to invest your money.

*ah, missed the end. Well done.

[ChimpMaster]

You know, Ray Croc gave a famous lecture at the University of Texas in the 70s. At the end of the lecture he asked the students what industry he was in.

Hamburgers of course! They all said.

Ray told them he was in the property business. Every restaurant was a prime location property with a guaranteed paying tenant.

I don't understand why so many people find it a hard concept to grasp that contracting can be a revenue stream to create wealth through investment. I do sympathise with those who get jealous of those of us who figured it out.

- That is speculation. Stop thinking, learn how to read a balance sheet. View money as a long-term game. The biggest investment is yourself.

Read a lot. "That's how knowledge builds up, like compound interest" - WB

Kiyosaki gave the same example about McDonalds.

Contracting is the 'accelerated' route you mentioned earlier (though some can take it another level as per your examples) and I've always viewed this as a bonus period in my life. One challenge is how to get at the company money so that you can invest it. MVL/ER was the optimal route but otherwise you have to take the divi tax hit, if the investment is worthwhile.

My next plan might involve MVL in a year or so, followed by a 2 year break so that I don't break any rules (though my break might become permanent) and I'll use that time to invest those funds. Alternatively I will keep funds in the company, stop contracting and change the company SIC to property development and re-assign the funds to that purpose.

I agree on the reading. I agree that gold is speculation but I would say it's worthwhile holding a small part of your portfolio in it. People need to think about long-term income/cash-flow rather than pure capital appreciation. Unless of course you're a genius in some way.

There's always a way.

[SueEllen]

Remember, they will still let you rot in a NHS care home, the feckers

He's down sizing his large house or filling it up with foreign student lodgers when they go to university, so they will have to share a room in the holidays/visit him. He's then going to spend the rest by giving it to his wife when she divorces him......

[OnceStonedRose]

I will never see retirement. I let missus spend every penny i earn on luxuries.

[I just need to test it]

You've married my ex-wife?