Enjoying Retirement

[alscar]

NowWatchThisDrive said:

The trouble with this sort of stuff is you're ultimately exposing yourself to significant adverse selection risk (why do you think the bastions of institutional capital have turned their noses up at these businesses such that they need to try and raise money this way?), illiquidity, and fees almost purely in pursuit of tax relief. As with most things along the spectrum of retail financial services (especially those marketed aggressively and pushed by IFAs et al) the acid test is pretty much the fact that it's being offered to you in the first place.

Nothing wrong with some VC as alternative capital raising and buying into what are multiple companies under management helps to mitigate any potential adverse selection.
Would concur that some FA’s push them quite aggressively though.
Fwiw mine have only ever been suggestions and it’s my call whether to invest directly with the VC or not.
There will definitely be individual company failures hence why Fund investment as opposed to only individual investment also assists in limiting downside.

[Gordon Hill]

mikeiow said:

Gordon Hill said:

So you will be familiar with Mary Rose Avenue and Fernside Way. Even when I was down there the standard of driving was deplorable, it's as if a lot of people had never driven off the island before (maybe they haven't) mixed with aggressive tourists in the spring/summer.

Indeed....although the newer ones there were built after I had moved away.

Skim the last few Island Echo Breaking News stories to see how bad the past couple of days have been for driving down there

Some bad ones there, it's not changed then. My daughter is a Caulkhead, born in Newport although she's 26 now and can't remember much about the IOW.

[Phil.]

mikeiow said:

Indeed....although the newer ones there were built after I had moved away.

Skim the last few Island Echo Breaking News stories to see how bad the past couple of days have been for driving down there

That is bad. I hope I make it back in one piece after a week there driving every day…..

[hmg]

NowWatchThisDrive said:

Sheepshanks said:

alscar said:

Tax planning may or may not include the use of vehicles such as VCT and / or EIS type investments but of course also need ready cash to actually invest.
Also possible to go back further than just 1 year with the use of KI EIS's ie perhaps to mitigate some of the tax paid in the last year of paid employment.

I've seen those various schemes and the idea of getting tax back is attractive but aren't they pretty risky - are there "safe" versions?

The trouble with this sort of stuff is you're ultimately exposing yourself to significant adverse selection risk (why do you think the bastions of institutional capital have turned their noses up at these businesses such that they need to try and raise money this way?), illiquidity, and fees almost purely in pursuit of tax relief. As with most things along the spectrum of retail financial services (especially those marketed aggressively and pushed by IFAs et al) the acid test is pretty much the fact that it's being offered to you in the first place.

They have their place as part of a wider investment and tax avoidance strategy….If your company is sat on reserves that you want to extract out in a tax efficient manner 4 or 5 years down the line then why not..?

[NowWatchThisDrive]

hmg said:

They have their place as part of a wider investment and tax avoidance strategy….If your company is sat on reserves that you want to extract out in a tax efficient manner 4 or 5 years down the line then why not..?

Personally, for all the reasons I stated. Are these businesses that you'd honestly look twice at were it not for the tax relief? To draw on a cliché it's too much "tax tail wagging the investment dog" for my liking, and even with tax relief once you properly account for the fees and illiquidity, I reckon the vast majority will underperform an index tracker held with no tax advantage.

alscar said:

Nothing wrong with some VC as alternative capital raising and buying into what are multiple companies under management helps to mitigate any potential adverse selection.
Would concur that some FA’s push them quite aggressively though.
Fwiw mine have only ever been suggestions and it’s my call whether to invest directly with the VC or not.
There will definitely be individual company failures hence why Fund investment as opposed to only individual investment also assists in limiting downside.

Arguably with VCTs, rather than (or as well as) the companies, you're being adversely selected on the managers themselves who, all else being equal, would probably rather have raised money from institutional investors than individuals

[alscar]

NowWatchThisDrive said:

Arguably with VCTs, rather than (or as well as) the companies, you're being adversely selected on the managers themselves who, all else being equal, would probably rather have raised money from institutional investors than individuals

You certainly need to be wary of just investing for the tax relief but equally also need to do sufficient due diligence on the Fund managers - they are not all equal.
You also don’t need that many successes to outweigh materially any write offs.
For instance one of my Funds is via MMC who amongst other VC’s invested a few years ago in the likes of Gousto and Bloom and Wild.
The former returned my investment ( pre tax relief ) x6 leaving me still invested with a stake also x6 the original gross investment.
The latter is currently worth x10 original investment having taken out x3 already.
But totally get they are not for everyone.

[V12GT]

Phil. said:

mikeiow said:

Indeed....although the newer ones there were built after I had moved away.

Skim the last few Island Echo Breaking News stories to see how bad the past couple of days have been for driving down there

That is bad. I hope I make it back in one piece after a week there driving every day…..

I'm not sure if there just isn't any other more serious news, but there were about 10 headlines and 8 of them were about accidents with at least 3 on their side or roof

It's been a long time since I've been on the IoW - I've been round it a few times and didn't see that level of incomptence on a boat.

Do they have a test standard on the island? Or is it can you drive 100 yards without crashing?

[L1OFF]

L1OFF said:

Congratulations, I posted on here a couple of months ago that I would be stopping work (end of contract really) on the 15th December and like you I was getting a bit anxious after 52 years of working (22years contracting). Finally got used to the idea and the buggers extended my contract till the end of March .

I thought I would post an update, my contract comes to an end on 29th March (officially confirmed) so s life of leisure awaits.

[Phil.]

Just booked a one-way flight to Bali in a couple of weeks where my son is currently staying having been travelling for the past 6 months. Will be good to see him.

Going to explore Bali and Lombok for a few weeks. Climbing Mount Batur for the sunrise is high on the agenda. Then maybe stop off in Cambodia/Thailand on the way home. Probably a 4-5 week trip.

It’s around £15 a night for a decent hotel room and a few £’s to eat, so not really budgeting but will be interesting how much we end up spending.

[Longy00000]

Oh Bali, those horribly packed beaches, you will need to be up early for a nice spot



Maybe not.....enjoy your trip I'm sure it will be fab !

[Register1]

Well I have had my first month of retirement.
Last working day was Friday 19 January.

With a new baby born on 24 January, it has been wonderful and fantastic to just have a top priority.

Full time stay at home dad.

For the win.

[DT1975]

Register1 said:

Well I have had my first month of retirement.
Last working day was Friday 19 January.

With a new baby born on 24 January, it has been wonderful and fantastic to just have a top priority.

Full time stay at home dad.

For the win.

Congrats!

That doesn't sound like retirement to me : )

On a serious note I was thinking last night what sort of dad I'd be now to a new born (retired late 50's). We have three grown up kids, I was a dad of two aged 30 and the third four years later. I worked shifts and I missed out on so much.

Luckily my wife didn't have to work and without doubt her personal care and teaching (no child minders etc) forged an unbreakable bond that sometimes I struggle to understand - they're all pretty successful in their careers and I credit my wife with just being so 'full on' with them and fortunate enough to have that chance.

You're so lucky to have that opportunity, what an amazing thing. I always felt my involvement in their immediate upbringing was fleeting, perhaps too much of a disciplinarian later on. It went so quick, I blinked, it was gone.

Best of luck, it sounds fantastic.

[turbobloke]

DT1975 said:

Register1 said:

Well I have had my first month of retirement.
Last working day was Friday 19 January.

With a new baby born on 24 January, it has been wonderful and fantastic to just have a top priority.

Full time stay at home dad.

For the win.

Congrats!

That doesn't sound like retirement to me : )

On a serious note I was thinking last night what sort of dad I'd be now to a new born (retired late 50's). We have three grown up kids, I was a dad of two aged 30 and the third four years later. I worked shifts and I missed out on so much.

Luckily my wife didn't have to work and without doubt her personal care and teaching (no child minders etc) forged an unbreakable bond that sometimes I struggle to understand - they're all pretty successful in their careers and I credit my wife with just being so 'full on' with them and fortunate enough to have that chance.

You're so lucky to have that opportunity, what an amazing thing. I always felt my involvement in their immediate upbringing was fleeting, perhaps too much of a disciplinarian later on. It went so quick, I blinked, it was gone.

Best of luck, it sounds fantastic.

That'll ring many bells. As to the guiding hand later on bit...without your influence your three could be TV stars by now! Following appearances on Police Interceptors

Best wishes for your retirement R1, just don't blink or when you turn round your baby will be asking you for career advice.

[Sheepshanks]

DT1975 said:

On a serious note I was thinking last night what sort of dad I'd be now to a new born (retired late 50's). We have three grown up kids, I was a dad of two aged 30 and the third four years later. I worked shifts and I missed out on so much.

Due to both our daughters having pretty full-on jobs, and very uninvolved in-laws, we’ve been heavily involved with our three grandchildren for the last 10yrs and to be honest it was pretty exhausting for the first few years of each of them.

Much easier now they’re older - youngest has just turned 7. He was the hardest to look after when small as he had digestion issues and sometimes just couldn’t sleep (even though he was trying to).

[skeeterm5]

A lovely day oop north so we pulled the MX5 out and went for a drive and spot of lunch.

The roads were filled with folk with the same idea…..

[irc]

What a coincidence! I was up north as well. Wednesday to Friday. Driving on a few A roads.

[James6112]

I don’t mind working still @62..
A few years salary in the bank.
Inheritances imminent, when the late in-laws house completes.
Generous salary, 45 days leave (can buy some), wfh, don’t do much tbh.
Eg work/walk the dogs/run/bit of diy/done by 4pm.
Maybe will knock it on the head soon.

[mikeiow]

James6112 said:

I don’t mind working still @62..
A few years salary in the bank.
Inheritances imminent, when the late in-laws house completes.
Generous salary, 45 days leave (can buy some), wfh, don’t do much tbh.
Eg work/walk the dogs/run/bit of diy/done by 4pm.
Maybe will knock it on the head soon.

You sure this is the thread for you?
Is there an "Enjoying Work" thread somewhere?


Just kidding - enjoying not too stressful work is absolutely fine - we are all different!

No scenic driving here: mostly a load of nights out, shows & comedy, with associated beers & a few meals with pals. Plus winning the prize pot at a quiz last night with some clever mates!
Currently nursing a slightly painful sprained ankle - occurred whilst stretching it - not even playing any sport
Slightly worrying as we head to the slopes inside 2 weeks, but it will hopefully mend enough for some gentle sliding disgracefully downhill a bit.
At least I can lay in for half the day, keeping the leg up!!

[Register1]

DT1975 said:

Register1 said:

Well I have had my first month of retirement.
Last working day was Friday 19 January.

With a new baby born on 24 January, it has been wonderful and fantastic to just have a top priority.

Full time stay at home dad.

For the win.

Congrats!

That doesn't sound like retirement to me : )

On a serious note I was thinking last night what sort of dad I'd be now to a new born (retired late 50's). We have three grown up kids, I was a dad of two aged 30 and the third four years later. I worked shifts and I missed out on so much.

Luckily my wife didn't have to work and without doubt her personal care and teaching (no child minders etc) forged an unbreakable bond that sometimes I struggle to understand - they're all pretty successful in their careers and I credit my wife with just being so 'full on' with them and fortunate enough to have that chance.

You're so lucky to have that opportunity, what an amazing thing. I always felt my involvement in their immediate upbringing was fleeting, perhaps too much of a disciplinarian later on. It went so quick, I blinked, it was gone.

Best of luck, it sounds fantastic.

Thank you.
I also missed out on so much of my previous marriage kids growing up.
Too busy working, paying mortgage, and putting food on the table.

[OldSkoolRS]

A bit of a thread bump.

This is the first Monday we've been in the UK since January as we're just back from our 5+ week trip to visit Australia, via Singapore and back via Thailand. We packed a lot in, staying with my wife's sister and BiL while in Australia, but travelled around during our time there. Our son came out for part of our Aus stay and we travelled up to Ayers rock during that time.

Hard to condense it into a few photos, but I'll add some thumbnails to avoid clogging the thread too much. It'll cost me a fortune at Boots to get them all developed.

I did make a point of taking my DSLR and the spare large lens, though ended up taking many photos on my phone, so I'm looking to replace it with a better one as the contract ends soon since I'm coming up 2 years now since I got it just before I retired.

In order of our trip, hopefully fairly explanatory.

Supertree from Singapore's Gardens by the bay:



View of the F1 grandstands from within the Singapore Flyer:



From the back of the Manley ferry, Queen Elizabeth just backing out:



Opera house by night from the ferry:



Camel ride at Ayers rock:



Sunset at Kata Tjuta, near to Ayers rock:



Taken from the plane as we took off from Ayers rock:



Three sisters at Blue Mountains:



Kangaroos having breakfast at Hunter Valley (where we went for a wine tasting weekend ):



Elephant retirement home (appropriate ) in Phuket. Not one of the places that chain the poor creatures up, but they let us feed them and you can help wash them too:



Scene of many an evening cocktail/G&T:



Already planning the next trip(s) and thankfully I haven't come back to repair my son's crashed Fiesta like last year, though we have got a leak from the shower, so it's not all roses.

Enjoying retirement? Yes I am thanks.