Reply to: Contracting - go for higher rate or repeated business?

[NotAllThere]

Thread has gone way off topic. If you want to continue, take it to General

[WTFH]

Yes i'm quite arrogant.

If anyone's got better idea to get a million, I'm all ears

Still waiting to find out why the target of £1million (or is it € or $ or Turkish Lira). And how do you define when you've reached it.

[diseasex]

FTFY



As I said, nothing wrong with trying anything, its the lack of planning, realistic assessment of risk and responsibilities that gets me.

I must say the amount of arrogance you display is quite staggering

Yes i'm quite arrogant.

If anyone's got better idea to get a million, I'm all ears

[MrMarkyMark]

Well my plan relies on my trading skills in general, I don't think it can be applied and done by anyone. What can I say. I'm trading stocks for over 10 years, I'm trading on ebay successfully for 4 years. Don't get me wrong. I was in debt 4 years ago, started 18k job and climbed since then increasing salary by 50-100% every time I was making a change. I consider myself quite successful already so when somebody is telling me I'm an idiot or treat me like it, I don't think he's right. Well I didn't win nobel prize, but I'm doing all right, and picking my battles well.

So the real risk is that I will constantly fail at investments, or get addicted to them by repeatedly making mistakes etc. But hey , that's what business is, you risk. At least in 20 years time I won't say "dang I should have tried and take my chances on this or that" because I'm taking my chances now. If I'll fail , I'll milk contracting while it lasts.
HTH

FTFY

so when somebody is telling me I'm not thinking things through, I don't think he's right and will ignore all the valuable advice being given.

As I said, nothing wrong with trying anything, its the lack of planning, realistic assessment of risk and responsibilities that gets me.

I must say the amount of arrogance you display is quite staggering

[diseasex]

That doesn't sound nice as you probably meant it to...

You don't want any more of this do you?!



It was helpful info for you to look into, right -so you don't make that mistake yourself?

I think MarkyMark is on the verge of doing this!!

What do you think are the gaps in your planning?

What do you want advice on? People will help if you don't alienate them.

(Yup, I've just discovered how many amazing smileys there are...)

Well my plan relies on my trading skills in general, I don't think it can be applied and done by anyone. What can I say. I'm trading stocks for over 10 years, I'm trading on ebay successfully for 4 years. Don't get me wrong. I was in debt 4 years ago, started 18k job and climbed since then increasing salary by 50-100% every time I was making a change. I consider myself quite successful already so when somebody is telling me I'm an idiot or treat me like it, I don't think he's right. Well I didn't win nobel prize, but I'm doing all right, and picking my battles well.

So the real risk is that I will constantly fail at investments, or get addicted to them by repeatedly making mistakes etc. But hey , that's what business is, you risk. At least in 20 years time I won't say "dang I should have tried and take my chances on this or that" because I'm taking my chances now. If I'll fail , I'll milk contracting while it lasts.
HTH

[CalamityJane]

yeah. If I was mean I would say they are useless. But I'll be nice and I'll tell you that they relate to people drawing funds from company or people having "significant" investments on their consultancy LTD. Neither applies to me. But thanks for trying.

That doesn't sound nice as you probably meant it to...

You don't want any more of this do you?!



It was helpful info for you to look into, right -so you don't make those mistakes yourself?

I think MarkyMark is on the verge of doing this!!

What do you think are the gaps in your planning?

What do you want advice on? People will help if you don't alienate them.

(Yup, I've just discovered how many amazing smileys there are...)

[stek]

You can also transfer funds to new LTD, then your consultancy incurs loss, whereas second company gets profit. Didn't understand this bit but it goes something like evening out or something. Anyway there is a way to transfer assets between LTD as you are owner of both. My accountant tried to explain that to me, but I will be researching this topic when I get there.

I think I know this accountancy firm, is it Weir, Norfolk and Goode?

[MrMarkyMark]

yeah. If I was mean I would say they are useless. But I'll be nice and I'll tell you that they relate to people drawing funds from company or people having "significant" investments on their consultancy LTD. Neither applies to me. But thanks for trying.

Very generous of you .

You said you were also investing in properties, is this not a significant investment?
You have heard of SISO, my supplied information is only as good as your inputs.

[CalamityJane]

I'll ask again, did you find the links I posted on here useful to you

Well, I did!

[diseasex]

I'll ask again, did you find the links I posted on here useful to you

yeah. If I was mean I would say they are useless. But I'll be nice and I'll tell you that they relate to people drawing funds from company or people having "significant" investments on their consultancy LTD. Neither applies to me. But thanks for trying.

Also consider the new 7.5%+ dividend tax. That might actually make sense that you want to keep this cash within limited and invest.
You can also transfer funds to new LTD, then your consultancy incurs loss, whereas second company gets profit. Didn't understand this bit but it goes something like evening out or something. Anyway there is a way to transfer assets between LTD as you are owner of both. My accountant tried to explain that to me, but I will be researching this topic when I get there.

[MrMarkyMark]

bashing my arguments for 13 pages is easy...or it isn't...?

I'll ask again, did you find the links I posted on here useful to you

[diseasex]

How has this car crash thread reached 13 pages??!?!?

bashing my arguments for 13 pages is easy...or it isn't...?

[CalamityJane]

How has this car crash thread reached 13 pages??!?!?

See? Anything really is possible...

[northernladuk]

How has this car crash thread reached 13 pages??!?!?

[MrMarkyMark]

Cut him some slack. I know he's being a bit bolshy now, but he's fed up and disheartened.

Pour me another, he's acting like Kevin the teenager at his "time of the month".

I have tried to help him in plenty of ways, but, get no thanks for it.
He needs to grow a pair, or forget about being in business at all.

HTH.