Comments on: A Fundamental Question – Answered? http://www.fivepencepiece.com/2009/09/a-fundamental-question-answered/ A British Man's Take on Debt, Saving & Investing Sat, 14 Nov 2009 14:08:36 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Leehttp://www.fivepencepiece.com/2009/09/a-fundamental-question-answered/comment-page-1/#comment-101 Lee Tue, 22 Sep 2009 19:18:26 +0000 http://www.fivepencepiece.com/?p=465#comment-101 If I could suggest that to them, I think I would.Unfortunately The Collection is still being worked on and I don't think dad will part with any of it anytime soon. The property is also his retirement fund (rental income), so again not really for enjoying per se. The house my mum lives in isn't really a cashable asset to them either.That said, my parents want for nothing. They're just enjoying their lives as they know how. If I could suggest that to them, I think I would.

Unfortunately The Collection is still being worked on and I don’t think dad will part with any of it anytime soon. The property is also his retirement fund (rental income), so again not really for enjoying per se. The house my mum lives in isn’t really a cashable asset to them either.

That said, my parents want for nothing. They’re just enjoying their lives as they know how.

]]> By: Financial Samuraihttp://www.fivepencepiece.com/2009/09/a-fundamental-question-answered/comment-page-1/#comment-97 Financial Samurai Tue, 22 Sep 2009 01:31:17 +0000 http://www.fivepencepiece.com/?p=465#comment-97 Hey Monevator - Actually, I told my parents the exact same thing! Spend EVERYTHING they have and leave me nothing. They deserve it, and worked for 40 years to obtain their things.The main thing we can give our parents is piece of mind that we will be fine.Lee - Nice answer! lol. Hey Monevator – Actually, I told my parents the exact same thing! Spend EVERYTHING they have and leave me nothing. They deserve it, and worked for 40 years to obtain their things.

The main thing we can give our parents is piece of mind that we will be fine.

Lee – Nice answer! lol.

]]> By: Leehttp://www.fivepencepiece.com/2009/09/a-fundamental-question-answered/comment-page-1/#comment-96 Lee Mon, 21 Sep 2009 21:12:23 +0000 http://www.fivepencepiece.com/?p=465#comment-96 @Samurai - What inheritance? :)It's true that renting really is the way to go, particularly at the moment. A nice fat deposit and a correctly timed purchase with a solid job is the only sensible way.In terms of economics, I am working on a post that'll be out in a day or two with my predictions for our economy next year. It's depressing reading (and writing). It will be interesting to come back to them in 12 months and see how right (or wrong) I was! @Samurai – What inheritance? :)

It’s true that renting really is the way to go, particularly at the moment. A nice fat deposit and a correctly timed purchase with a solid job is the only sensible way.

In terms of economics, I am working on a post that’ll be out in a day or two with my predictions for our economy next year. It’s depressing reading (and writing). It will be interesting to come back to them in 12 months and see how right (or wrong) I was!

]]> By: Financial Samuraihttp://www.fivepencepiece.com/2009/09/a-fundamental-question-answered/comment-page-1/#comment-95 Financial Samurai Mon, 21 Sep 2009 21:02:48 +0000 http://www.fivepencepiece.com/?p=465#comment-95 Hey Lee - Good post. Two things:1) Definitely keep on renting! Homeownership is expensive, and it's not just b/c of the mortgage! Trust me on this one mate. Keep FREE, and settle down with propertly only when you have 30% of the value saved up, and you've found a job you know you want to be at for 5+ years.2) Strike all thoughts of inheritance out of your mind, and planning completely. Even thinking about it, is relying on it! Don't think about it at all.Resist the temptation! :) You can see some of my property info in today's post at FS. But, as you can see, there was a precipitous decline this past 18 months, and only recently a rebound. Thank goodness I wasn't checking, cuz that would be depressing! Hey Lee – Good post. Two things:

1) Definitely keep on renting! Homeownership is expensive, and it’s not just b/c of the mortgage! Trust me on this one mate. Keep FREE, and settle down with propertly only when you have 30% of the value saved up, and you’ve found a job you know you want to be at for 5+ years.

2) Strike all thoughts of inheritance out of your mind, and planning completely. Even thinking about it, is relying on it! Don’t think about it at all.

Resist the temptation! :) You can see some of my property info in today’s post at FS. But, as you can see, there was a precipitous decline this past 18 months, and only recently a rebound. Thank goodness I wasn’t checking, cuz that would be depressing!

]]> By: Leehttp://www.fivepencepiece.com/2009/09/a-fundamental-question-answered/comment-page-1/#comment-93 Lee Mon, 21 Sep 2009 15:15:13 +0000 http://www.fivepencepiece.com/?p=465#comment-93 I agree the IHT avoidance would be well-timed to get into place now, but at the same time I am enjoying attempting to "get out of debt and get rich" on my own. I don't want to rely on money that may not come for another 20-30 years, or may not materialise at all (it isn't all that uncommon for weird things to happen in wills and on reading find everything left to the Battersea Dogs Home or similar!). If I can make myself financially sound and on the road to being rich alone, then any windfalls will just speed things up.If that makes any sense at all. I agree the IHT avoidance would be well-timed to get into place now, but at the same time I am enjoying attempting to “get out of debt and get rich” on my own. I don’t want to rely on money that may not come for another 20-30 years, or may not materialise at all (it isn’t all that uncommon for weird things to happen in wills and on reading find everything left to the Battersea Dogs Home or similar!). If I can make myself financially sound and on the road to being rich alone, then any windfalls will just speed things up.

If that makes any sense at all.

]]>