£25,000. Buy a car or Btl
Discussion
gregs1959 said:
Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.
Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
So what's the point in accumulating? Are you saving up for something, looking forward to leaving it to someone else to enjoy, or is it just pointless?Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
I mean, pointless is ok, but it's a tough one to face yourself with, especially as you grow older.
drainbrain said:
gregs1959 said:
Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.
Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
So what's the point in accumulating? Are you saving up for something, looking forward to leaving it to someone else to enjoy, or is it just pointless?Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
I mean, pointless is ok, but it's a tough one to face yourself with, especially as you grow older.
….and so, the wealth passed from generation to generation. Each one adding to it and denying himself the fruits of his labour, comforted in self denial by the knowledge that it would pass to the next generation undiminished. The generations passed and the wealth grew and grew….
Then, one day, there was a nuclear war…….
oh dear
Then, one day, there was a nuclear war…….
oh dear
Edited by drainbrain on Tuesday 6th December 21:26
drainbrain said:
….and so, the wealth passed from generation to generation. Each one adding to it and denying himself the fruits of his labour, comforted in self denial by the knowledge that it would pass to the next generation undiminished. The generations passed and the wealth grew and grew….
Then, one day, there was a nuclear war…….
oh dear
Why would anyone be denying themselves anything? You are so amusingly melodramatic. When you have excess wealth you don't have to go and blow it all like a queen, most will utilise it in a more intelligent manner and move their genes forward. Then, one day, there was a nuclear war…….
oh dear
Edited by drainbrain on Tuesday 6th December 21:26
sidicks said:
The OP has £25k.
He can put £15k into a pension (and let HMRC top it up to £25k) or
He can spend £15k on a holiday or
He can spend £15k on coke and hookers or
He can gamble and lose £15k at the local Casino.
In all cases he will have £10k left to spend on a car.
Not often I agree with sidicks but this thread did make me chuckle and I thought sidicks' explanation nicely succinct.He can put £15k into a pension (and let HMRC top it up to £25k) or
He can spend £15k on a holiday or
He can spend £15k on coke and hookers or
He can gamble and lose £15k at the local Casino.
In all cases he will have £10k left to spend on a car.
If only it really were possible to make a pension contribution and spend some of the tax relief straight away on a car. If only!
drainbrain said:
….and so, the wealth passed from generation to generation. Each one adding to it and denying himself the fruits of his labour, comforted in self denial by the knowledge that it would pass to the next generation undiminished. The generations passed and the wealth grew and grew….
Then, one day, there was a nuclear war…….
oh dear
You have stated in another thread that your children will be left a healthy amount. So please, don't mock people perhaps less fortunate than yourself for trying to do the same Then, one day, there was a nuclear war…….
oh dear
Edited by drainbrain on Tuesday 6th December 21:26
Isn't it really the case that as we get older we see less value in frivolous purchases of things like cars, expensive luxuries etc. As we become to see value in the real things that give us happiness. I'd much rather my kids had a solid financial platform to help make their lives less of a struggle than see me poncing round in a sports car. A bit of both would be nice though
EddieSteadyGo said:
Not often I agree with sidicks but this thread did make me chuckle and I thought sidicks' explanation nicely succinct.
I knew you'd come round to my way of thinking eventually!EddieSteadyGo said:
If only it really were possible to make a pension contribution and spend some of the tax relief straight away on a car. If only!
I can sort of see that if you wanted to invest £25k you could either:A) Invest £25k in an asset
B) Invest £15k into a pension which gets topped up to £25k, leaving you with £10k to spend on something else
But, for obvious reasons, those scenarios are not equivalent, so I still maintain it's a misleading comparison!
gregs1959 said:
Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.
Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
So if you could afford a supercar, but are prepred to put money into a new btl, then why not get the btl and a £25k car. Your need to come here and ask advice makes no sense, and your 'dilemma' is meaningless.Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
Sorry, but this is either a very poor atempt to show off, or it's BS.
Doofus said:
gregs1959 said:
Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.
Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
So if you could afford a supercar, but are prepred to put money into a new btl, then why not get the btl and a £25k car. Your need to come here and ask advice makes no sense, and your 'dilemma' is meaningless.Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
Sorry, but this is either a very poor atempt to show off, or it's BS.
rufusgti said:
drainbrain said:
….and so, the wealth passed from generation to generation. Each one adding to it and denying himself the fruits of his labour, comforted in self denial by the knowledge that it would pass to the next generation undiminished. The generations passed and the wealth grew and grew….
Then, one day, there was a nuclear war…….
oh dear
You have stated in another thread that your children will be left a healthy amount. So please, don't mock people perhaps less fortunate than yourself for trying to do the same Then, one day, there was a nuclear war…….
oh dear
Edited by drainbrain on Tuesday 6th December 21:26
Doofus said:
gregs1959 said:
Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.
Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
So if you could afford a supercar, but are prepred to put money into a new btl, then why not get the btl and a £25k car. Your need to come here and ask advice makes no sense, and your 'dilemma' is meaningless.Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
Sorry, but this is either a very poor atempt to show off, or it's BS.
The £25k becomes the savings. The "large amount of savings" gets spent on a number of unburdened btls. Their rent finances the super car lease. And when/if the 'supercar boredom' sets in, the car gets dumped and so too do the btls, returning the cash to the large amount of savings and the £25k gets spent on a modest not-super car. The btls could always get kept and their rent added to the 'comforting' ever-increasing even larger amount of savings which, assuming this man is determined not to enjoy the fruit of his labours or attains an age where the attraction of material goods significantly pales, he can then pass on to his successors leaving them the dilemma to resolve as to what to do with your money.
If they've any sense, they'll spend it on whatever best pleases them. As he would if he had any (sense).
Edited by drainbrain on Wednesday 7th December 11:41
drainbrain said:
Well how about this for a plan:
The £25k becomes the savings. The "large amount of savings" gets spent on a number of unburdened btls.
Unburdened? You mean with no mortgage?The £25k becomes the savings. The "large amount of savings" gets spent on a number of unburdened btls.
How many can you realistically buy for £25k in an area that the OP is comfortable with?
drainbrain said:
Their rent finances the super car lease.
How much rent are these going to actually bring in that can be relied on to fund a lease? Unlikely to fund a super car, I would have thought!drainbrain said:
And when/if the 'supercar boredom' sets in, the car gets dumped and so too do the btls, returning the cash to the large amount of savings and the £25k gets spent on a modest not-super car. The btls could always get kept and their rent added to the 'comforting' ever-increasing even larger amount of savings which, assuming this man is determined not to enjoy the fruit of his labours or attains an age where the attraction of material goods significantly pales, he can then pass on to his successors leaving them the dilemma to resolve as to what to do with your money.
If they've any sense, they'll spend it on whatever best pleases them. As he would if he had any (sense).
Presumably leaving something to his children is part of 'what pleases him'...If they've any sense, they'll spend it on whatever best pleases them. As he would if he had any (sense).
Edited by sidicks on Wednesday 7th December 12:53
DonkeyApple said:
Doofus said:
gregs1959 said:
Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.
Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
So if you could afford a supercar, but are prepred to put money into a new btl, then why not get the btl and a £25k car. Your need to come here and ask advice makes no sense, and your 'dilemma' is meaningless.Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.
Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.
As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....
My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.
Silly I know but there u go. I
Sorry, but this is either a very poor atempt to show off, or it's BS.
sidicks said:
drainbrain said:
Well how about this for a plan:
The £25k becomes the savings. The "large amount of savings" gets spent on a number of unburdened btls.
Unburdened? You mean with no mortgage?The £25k becomes the savings. The "large amount of savings" gets spent on a number of unburdened btls.
How many can you realistically buy for £25k in an area that the OP is comfortable with?
drainbrain said:
Their rent finances the super car lease.
How much rent are these going to actually bring in that can be relied on to fund a lease? Unlikely to fund a super car, I would have thought!drainbrain said:
And when/if the 'supercar boredom' sets in, the car gets dumped and so too do the btls, returning the cash to the large amount of savings and the £25k gets spent on a modest not-super car. The btls could always get kept and their rent added to the 'comforting' ever-increasing even larger amount of savings which, assuming this man is determined not to enjoy the fruit of his labours or attains an age where the attraction of material goods significantly pales, he can then pass on to his successors leaving them the dilemma to resolve as to what to do with your money.
If they've any sense, they'll spend it on whatever best pleases them. As he would if he had any (sense).
Presumably leaving something to his children is part of 'what pleases him'…
If they've any sense, they'll spend it on whatever best pleases them. As he would if he had any (sense).
Presumably leaving something to his children is part of 'what pleases him'…
Edited by drainbrain on Wednesday 7th December 11:35[/footnote]
[footnote]Edited by sidicks on Wednesday 7th December 11:48And of course he can't really tell if leaving something to his children will please him because he's never done it, and will be dead when he does.The best pleasure he can expect to get to is THE IDEA of leaving something to his children. If contemplating an idea is 'enjoying the fruits of your labour' then I'm a Dutchman. And just imagine if the kids were daft enough to think the same. Who eventually DOES get to enjoy the fruits of all this labour?
Edited by drainbrain on Wednesday 7th December 14:45
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