jonno
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nil satis nisi optimum
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Post by jonno on Jun 17, 2016 13:04:42 GMT
I'll be living in LOS myself at the end of October. Can live well for a lot less than the UK.  A good few Baht cheaper. But dont tell everyone . Yeah LOS is okay, but have you tried LAS next door. I've always loved Tenerife 
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duck
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Post by duck on Jun 17, 2016 13:33:00 GMT
so does anyone here earn enough from interest alone to be able to live off it? Simple answer, yes. In fact I didn't spend all the interest that I 'earned' last year.  I don't class it as 'mega interest' though since I don't believe the wife and I have an expensive lifestyle but we are free of mortgages and any other similar expenditure.
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Liz
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Post by Liz on Jun 17, 2016 16:02:33 GMT
hi all, i know it could be deemed vulgar to talk about but I find it to be interesting, exciting and also makes me more determined to reach my goal. i have only just started my journey into high % interest investing so currently only get around £50 a month interest across my investments but I am determined to keep topping it up monthly and reinvest every penny. My aim is to carry on for 25 years at which point I would have enough to be able to live off the interest alone and have the large lump sum of capital there as well. i have a long way to go! so does anyone here earn enough from interest alone to be able to live off it? How old are you? In the 25 years, you may need to use your cash to purchase a property or have children that cost a fortune. The best way to get rich, if that floats your boat, is invest in yourself and get a high paying job, with a fat pension. Top bankers have done well.
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andyb
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Post by andyb on Jun 17, 2016 16:28:55 GMT
hi all, i know it could be deemed vulgar to talk about but I find it to be interesting, exciting and also makes me more determined to reach my goal. i have only just started my journey into high % interest investing so currently only get around £50 a month interest across my investments but I am determined to keep topping it up monthly and reinvest every penny. My aim is to carry on for 25 years at which point I would have enough to be able to live off the interest alone and have the large lump sum of capital there as well. i have a long way to go! so does anyone here earn enough from interest alone to be able to live off it? How old are you? In the 25 years, you may need to use your cash to purchase a property or have children that cost a fortune. The best way to get rich, if that floats your boat, is invest in yourself and get a high paying job, with a fat pension. Top bankers have done well. I'm 31 with a Mrs and daughter we both work full time with a combined income in the 40-50k range and we have a mortgaged house, I don't want to work in a manual engineering job forever as its destroying my joints. We live quite comfortably on our wages and our mortgage is only 380ish a month so I have quite a bit left over to invest. The aim is to have accrued enough by 55-60 to be able to take early retirement for both me and the Mrs and to also be able to help the daughter and any other potential children out with money as and when needed.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jun 17, 2016 16:36:26 GMT
How old are you? In the 25 years, you may need to use your cash to purchase a property or have children that cost a fortune. The best way to get rich, if that floats your boat, is invest in yourself and get a high paying job, with a fat pension. Top bankers have done well. I'm 31 with a Mrs and daughter we both work full time with a combined income in the 40-50k range and we have a mortgaged house, I don't want to work in a manual engineering job forever as its destroying my joints. We live quite comfortably on our wages and our mortgage is only 380ish a month so I have quite a bit left over to invest. The aim is to have accrued enough by 55-60 to be able to take early retirement for both me and the Mrs and to also be able to help the daughter and any other potential children out with money as and when needed. I've been living off my investments since quite a bit younger than that even (did make a post about my alternative view of financing my life somewhere once upon a time - will dig out a link if I can find it later *). In answer to your original question, I could live off my p2p interest at the moment if I wanted to, but I generate other income in risker ways at the moment  and for the most part just re-invest the interest. For what it's worth, my opinion is that in terms of achievable rates in p2p we have been, and still just about are, riding the crest of the wave over the past few years. My belief is that p2p rates will come down as it becomes ever more established and acceptable to the masses, especially once the ISA's go live and the resultant advertising kicks in, even as wider interest rates increase. We're already seeing it happen I'm afraid, so make hay whilst the sun shines. Edit: * link to ancient post p2pindependentforum.com/post/36534/thread
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goopy
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Post by goopy on Jun 17, 2016 16:37:14 GMT
Just remember andyb, YOUR CAPITAL IS AT RISK. |
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adrianc
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Post by adrianc on Jun 17, 2016 16:37:42 GMT
I'm 31 with a Mrs and daughter we both work full time with a combined income in the 40-50k range and we have a mortgaged house, I don't want to work in a manual engineering job forever as its destroying my joints. We live quite comfortably on our wages and our mortgage is only 380ish a month so I have quite a bit left over to invest. The aim is to have accrued enough by 55-60 to be able to take early retirement for both me and the Mrs and to also be able to help the daughter and any other potential children out with money as and when needed. I'd be looking to pay that mortgage down as quickly as possible. What interest rate are you paying (out of taxed income) on that borrowed money, compared to the interest rate you're receiving (with tax deducted) on your investments? Also, if you have a lower mortgage debt, you have more flexibility during times of lower income and you have better choices for negotiating a lower rate when you remortgage, with a lower LTV.
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Balder
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Post by Balder on Jun 17, 2016 16:43:15 GMT
I'm 31 with a Mrs and daughter we both work full time with a combined income in the 40-50k range and we have a mortgaged house, I don't want to work in a manual engineering job forever as its destroying my joints. We live quite comfortably on our wages and our mortgage is only 380ish a month so I have quite a bit left over to invest. The aim is to have accrued enough by 55-60 to be able to take early retirement for both me and the Mrs and to also be able to help the daughter and any other potential children out with money as and when needed. I'd be looking to pay that mortgage down as quickly as possible. What interest rate are you paying (out of taxed income) on that borrowed money, compared to the interest rate you're receiving (with tax deducted) on your investments? Also, if you have a lower mortgage debt, you have more flexibility during times of lower income and you have better choices for negotiating a lower rate when you remortgage, with a lower LTV. I wouldn't ref the mortgage as rates are low and you can make more elsewhere (my opinion anyway). You should maximise pension savings for the tax relief. You could start a SIPP that allows investment in P2P for example.
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Liz
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Post by Liz on Jun 17, 2016 16:45:55 GMT
How old are you? In the 25 years, you may need to use your cash to purchase a property or have children that cost a fortune. The best way to get rich, if that floats your boat, is invest in yourself and get a high paying job, with a fat pension. Top bankers have done well. I'm 31 with a Mrs and daughter we both work full time with a combined income in the 40-50k range and we have a mortgaged house, I don't want to work in a manual engineering job forever as its destroying my joints. We live quite comfortably on our wages and our mortgage is only 380ish a month so I have quite a bit left over to invest. The aim is to have accrued enough by 55-60 to be able to take early retirement for both me and the Mrs and to also be able to help the daughter and any other potential children out with money as and when needed. Sorry wrongly thought you were either younger and/or a bachelor. i'm 39 with 4 children, only a 1 working person family, earning £38k+car, but managed to save over the years. Although we dont have much spare cash like a few years ago, the children are getting costly. The mortgage does pays off in 6 years and P2P income is accumulating nicely, so our wealth is rising. I too want a nice retirement and to help the children, so am trying to get financially secure. Try a compounding calculator, use say 8% return and see how much you money will increase by in 25 years, it might surprise you. Quick calc, 8%, 30K investment, over 25 years returns £220K.
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Post by whatif on Jun 17, 2016 16:49:37 GMT
I'm about to cross into my 70s, and about 20 years ago I thought I'd be a miilionaire... who remembers the HYIP schemes around then, seeing your money double every few weeks. Inevitably they were pyramids and eventually crashed and burned, leaving a few people rich, who played the game and got out at the right time, but most very much the loser.
Whilst I'm NOT, in any way, comparing those to current p2p offerings, it is so easy to use a compound calculator and shout 'eureka' I've found the pot of gold. Things happen that we don't foresee, especially in current times, so unless you've a bottomless pit of money, have a Plan B, C & D for when (not if) it happens.
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Balder
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Post by Balder on Jun 17, 2016 16:52:17 GMT
I'm 31 with a Mrs and daughter we both work full time with a combined income in the 40-50k range and we have a mortgaged house, I don't want to work in a manual engineering job forever as its destroying my joints. We live quite comfortably on our wages and our mortgage is only 380ish a month so I have quite a bit left over to invest. The aim is to have accrued enough by 55-60 to be able to take early retirement for both me and the Mrs and to also be able to help the daughter and any other potential children out with money as and when needed. Sorry wrongly thought you were either younger and/or a bachelor. i'm 39 with 4 children, only a 1 working person family, earning £38k+car, but managed to save over the years. Although we dont have much spare cash like a few years ago, the children are getting costly. The mortgage does pays off in 6 years and P2P income is accumulating nicely, so our wealth is rising. I too want a nice retirement and to help the children, so am trying to get financially secure. Try a compounding calculator, use say 8% return and see how much you money will increase by in 25 years, it might surprise you. Quick calc, 8%, 30K investment, over 25 years returns £220K. But remember (-) tax and (-) inflation effect. Remove tax hit by investing via a pension.
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agent69
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Post by agent69 on Jun 17, 2016 17:03:20 GMT
hi all, i know it could be deemed vulgar to talk about but I find it to be interesting, exciting and also makes me more determined to reach my goal. i have only just started my journey into high % interest investing so currently only get around £50 a month interest across my investments but I am determined to keep topping it up monthly and reinvest every penny. My aim is to carry on for 25 years at which point I would have enough to be able to live off the interest alone and have the large lump sum of capital there as well. i have a long way to go! so does anyone here earn enough from interest alone to be able to live off it? I'll put this as politely as possible mind your own bl**dy business.PS - don't give up your day job
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11025
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Post by 11025 on Jun 17, 2016 17:07:14 GMT
hi all, i know it could be deemed vulgar to talk about but I find it to be interesting, exciting and also makes me more determined to reach my goal. i have only just started my journey into high % interest investing so currently only get around £50 a month interest across my investments but I am determined to keep topping it up monthly and reinvest every penny. My aim is to carry on for 25 years at which point I would have enough to be able to live off the interest alone and have the large lump sum of capital there as well. i have a long way to go! so does anyone here earn enough from interest alone to be able to live off it? I'll put this as politely as possible mind your own bl**dy business.PS - don't give up your day job What day job ? , no one would employ me as I spend to much time on p2p boards !
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agent69
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Post by agent69 on Jun 17, 2016 17:24:19 GMT
It depends what country you live in. I'll be living in LOS myself at the end of October. Can live well for a lot less than the UK. I've been to LOS and it's bloody expensive (especially once you factor in a menage a trois or two)
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goopy
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Post by goopy on Jun 17, 2016 17:27:08 GMT
I'll be living in LOS myself at the end of October. Can live well for a lot less than the UK. I've been to LOS and it's bloody expensive (especially once you factor in a menage a trois or two) I resemble that remark. 
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and for the most part just re-invest the interest.
