Reply to: How to quit a 9-to-5 life on £400,000

[Rebecca Loos]

well here the risk is not so much how the capital/loan is structured, but more to do with expected rents - you obviously have to buy in the right area, the right sort of house etc. There is research available and it is not too hard to get it right.

[IR35 Avoider]

Pay cash for your £250,000 home, or buy 2 homes of same value with a £125,000 deposit in each? I know what I'd do

I think in (financial) theory your option is the worse one, in the sense that gearing worsens the ratio of expected return to risk.

[MarillionFan]

Well if I was happy with £20000 p/a I could retire now.

But the fact that thats a paupers amount means I need to save upto that £3million mark we were talking about!

[voron]

You can sub-let a pot on AtW's patio for round about that.

That could be a winner. I bet the lad has plenty of porn stashed around the place. Given the amount of time he spends online, he surely can't be posting on tech fora all day and night - can he??? Please tell me he does something healthy online, like browse Swedish porn sites Sorry, got a bit distracted there. Everyone keeps talking about porn. Porn, ah yes

[Lucifer Box]

Have you tried finding a house for £1.99? When I became a contractor someone forgot to tell me the objective was to make lots of money. I took the job insecurity but forgot about the increased rate

You can sub-let a pot on AtW's patio for round about that.

[voron]

saving for a house deposit, you should be looking to pay the whole thing out right in cash

Have you tried finding a house for £1.99? When I became a contractor someone forgot to tell me the objective was to make lots of money. I took the job insecurity but forgot about the increased rate

[Rebecca Loos]

why Milan? A mortgage is the cheapest form of loan you can get - makes sense to take one even if you don't need it when buying property.

Pay cash for your £250,000 home, or buy 2 homes of same value with a £125,000 deposit in each? I know what I'd do

[Lucifer Box]

feck me the financial status of you lot is an embarressment to the contracting fraternity

saving for a house deposit, you should be looking to pay the whole thing out right in cash

for heaven's sake

Milan.

sp. Embarrassment.

Not everyone earns 8 euros an hour you know.

[Lucifer Box]

Are you sure it didn't have anything to do with shoes? I think I married Imelda Marcos. Either that or my wife was a millipede in a former life

I think it has a lot to do with eBay - arguably the worst thing I ever did was tell Mrs Lucifer about this great new site that puts sellers and buyers in touch with each other.

[milanbenes]

feck me the financial status of you lot is an embarressment to the contracting fraternity

saving for a house deposit, you should be looking to pay the whole thing out right in cash

for heaven's sake

Milan.

[voron]

I went to Monte Carlo and stuck it all on red and it came up black.

Are you sure it didn't have anything to do with shoes? I think I married Imelda Marcos. Either that or my wife was a millipede in a former life

[Lucifer Box]

Bloody hell, Lucifer, whatever happened to your mountain of cash???

I went to Monte Carlo and stuck it all on red and it came up black.

[voron]

Great, only another £460,500 to go then.

Thinking about it though, a house the same as mine over the road is on the market for that. Can I just sell up, start sub-letting a room in AtW's house, and pack it in for good?

Bloody hell, Lucifer, whatever happened to your mountain of cash???

I have actually managed to pay off all my debts and start to build a modest savings account towards a house deposit. Now my arse is about to hit the bench just in time for the great Christmas market slump. I'm fecked

[ancient]

I mean't to say doesn't have to mean

still as I said it is interesting to see these figures

most here must have already or be able to achieve these numbers by 40

Franko typically tried to throw a spanner in the works, and he has a valid point, however if you have this kind of income guaranteed (20k per year)and after tax then you are already on a similar income to a lot of 35k per year IT peops anyway !

and if you achieve the amount required for the 50k per year then you are laughing

Milan.

The new a-day pension rules (starting April) will allow people to stash large amounts of cash tax free in a relatively short period of time.

Just think, stash the wad for a few years, and then bugger off to a place in the sun at 50, of course invite all your permie mates round just to let them know how you are suffering.

[Lucifer Box]

[url]The good news is that if you would be happy to live off this sum you can manage with savings well below £1m. A 30-year-old wanting to stop work and live off £20,000 a year would need £461,000.

Great, only another £460,500 to go then.

Thinking about it though, a house the same as mine over the road is on the market for that. Can I just sell up, start sub-letting a room in AtW's house, and pack it in for good?