Financial Freedom

[Jog On]

Following on from the debt threads I thought I'd start one about financial freedom as my spreadsheets are focused more on financial freedom with oustanding personal debt as a short term obstacle and number 1 priority.

Who here is actively in or looking into getting into a position where you live off funds generated from investments so you don't actually have to get up in the morning and trade time for money?

If so what's your plan and how far along are you?

I find the whole getting out of debt thing a lot easier with a positive focus (financial freedom) as opposed to a negative focus (bad debts).

[Mich the Tester]

Following on from the debt threads I thought I'd start one about financial freedom as my spreadsheets are focused more on financial freedom with oustanding personal debt as a short term obstacle and number 1 priority.

Who here is actively in or looking into getting into a position where you live off funds generated from investments so you don't actually have to get up in the morning and trade time for money?

If so what's your plan and how far along are you?

I find the whole getting out of debt thing a lot easier with a positive focus (financial freedom) as opposed to a negative focus (bad debts).

Hmmm, 'investments'. Are they those thingummyjigs that depreciate faster than a dented Lada after 3 terms of a labour govenment?

[DimPrawn]

Let the state support you by being an asylum seeker or similar.

Financial freedom and you don't trade time for money.

HTH

[moorfield]

Having dabbled with high yield share portfolios for a while with the vague plan of building an income stream for the future, and watched them fester and rot this year, I am now convinced the only way out is to pay off as much of my mortgage off as fast as possible, and then become an accountant. Or a lumberjack.

Oh, that and lumping the rest of my spare cash into LOIL.L

[Andy2]

Oh, that and lumping the rest of my spare cash into LOIL.L

Use LOIL as a short term play only , since it has high contango charges.

Even if the oil prices remain the same in the next 6 months you will find that LOIL will be in loss.

[AlfredJPruffock]

Let the state support you by being an asylum seeker or similar.

Financial freedom and you don't trade time for money.

HTH

True - you should add to that to avoid any from of Pension Schemes as the state will then have to bail you out - plus you probably will never see any of your pension fund due to mismanagement/ stock market collapse or death before retirement age.

[Jog On]

Apologies for asking such a silly question

[gingerjedi]

My wife and I invested £1500 in a management buy out of the biochem company she just left, it just paid us a £420 dividend in the first year!!

Why didn't we pile more in.

[expat]

My wife and I invested £1500 in a management buy out of the biochem company she just left, it just paid us a £420 dividend in the first year!!

Why didn't we pile more in.

Reminds me of Sept 2001. I was in France: on 12th Sept, shares in Air France were half the price they had been days before. I thought, no way will the French govt let Air France go down the tubes, so I bought a few. Why didn't I buy a lot?

[EternalOptimist]

Following on from the debt threads I thought I'd start one about financial freedom as my spreadsheets are focused more on financial freedom with oustanding personal debt as a short term obstacle and number 1 priority.

Who here is actively in or looking into getting into a position where you live off funds generated from investments so you don't actually have to get up in the morning and trade time for money?

If so what's your plan and how far along are you?

I find the whole getting out of debt thing a lot easier with a positive focus (financial freedom) as opposed to a negative focus (bad debts).

my spreadie tells me I need £300k in the bank, in order to maintain my current standard of living.

I am over half way there