What would you do
Discussion
I am totally pissed off with the rat race dont have much money compared to some but if I sold my house would come out with about £200,000 i am 55 in August and could cash in my pension for £75,000 (after tax deductions) so £275,000 in total what would you do to get out of the rat race and enjoy a stress free life, I know £275,000 is not a lot these days
colinrob said:
Just a bit more info I would be chucking in a partnership where i am getting between £500-£1000 a week and an SQ5 and my wife is earning about £300 a week but money is not everything, thinking of a boat and a mooring with little business repairing bikes and no hastle
Personally I'd focus on trimming back outgoings to reduce any financial concerns, pare back outgoings, etc and take some counselling before making any big decisions at that point in life. i.e. simplify existing life before taking a leap.colinrob said:
I am totally pissed off with the rat race dont have much money compared to some but if I sold my house would come out with about £200,000 i am 55 in August and could cash in my pension for £75,000 (after tax deductions) so £275,000 in total what would you do to get out of the rat race and enjoy a stress free life, I know £275,000 is not a lot these days
I just jacked it all in at 42 with roughly a tenth of what you have. No house because I'm priced out so having to shell out £1,400/month on rent and living expenses from a total of £22k and hope I get something going that I enjoy before it runs out, so don't be afraid, just do it.I don't know what house prices are like in your neck of the woods but in mine £200k would buy a really decent home. In your position I'd sell up, buy a modest home and get a part time job to keep food on the table and the lights on while developing something for myself in the rest of my waking hours.
colinrob said:
outgoings not an issue, it is the stress of running a business 24/7 with my wife being bookkeeper and the potential arguments as it is a family business (ie with inlaws) or out laws is probably a better term
Ahh... then just switch. Use your experience and find the same job without the mental overhead.Local council? Always need H&S. Universities... colleges... etc.. All generally quite nice places to work?
My cars are out of date now, I have an SQ5 and a C32 AMG they will both be sold, to be replaced by one sensible car, the Merc is paid for the SQ5 is just a business expense that cost me about £200 a month so nothing really, its not about the money its about enjoying life thinking of selling up and buying a boat and mooring and perhaps buy/sell/repair/rent bikes as a business
colinrob said:
outgoings not an issue, it is the stress of running a business 24/7 with my wife being bookkeeper and the potential arguments as it is a family business (ie with inlaws) or out laws is probably a better term
In which case hire a person to take over or at the very least to take a good chunk of the stress out of it. Consider using a local accounts firm to help your wife. You'll have less money but will actually have a life and some free time.Just sounds like you need a better work/life balance.
The alternative. Sell everything but leave your pension alone, buy a large motorhome or boat and go off travelling.
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