Expert financial advice needed!!!
Discussion
There is a massive long convoluted back story, BUT....
...the bottom line is a retired client has a bill to pay. £260k.
A first payment - £60k. - will be getting made on 01/11/18. He then has 12 months to pay the rest. The question is, how does he conjure up £200k by 01/11/19 ?
So, O experts, the client's fact find elucidates but one need......the need to raise £200k by 01/11/19. Starting now.
About £10k can be made available to effect any plan. Borrowing is not possible.
The price of failure is that the client will have to sell assets to pay the bill if the payment can't be raised any other way, and the client has no wish to do this.
So, o experts, how does the client raise £200k over the next 13 months?
The "fee" on offer is straightforward. The adviser can keep any amount over £200k that their advice raises without limit.
...the bottom line is a retired client has a bill to pay. £260k.
A first payment - £60k. - will be getting made on 01/11/18. He then has 12 months to pay the rest. The question is, how does he conjure up £200k by 01/11/19 ?
So, O experts, the client's fact find elucidates but one need......the need to raise £200k by 01/11/19. Starting now.
About £10k can be made available to effect any plan. Borrowing is not possible.
The price of failure is that the client will have to sell assets to pay the bill if the payment can't be raised any other way, and the client has no wish to do this.
So, o experts, how does the client raise £200k over the next 13 months?
The "fee" on offer is straightforward. The adviser can keep any amount over £200k that their advice raises without limit.
mikeiow said:
Kickstarter. What could possibly go wrong.....
As he has no feet (or legs) kickstarting (or indeed kicking) anything presents an almost insurmountable difficulty. Although, in fairness, 'kickstarting' a return to work from retirement is currently what he believes to be his only option - hence the search for potential expert financial advice for an optional solution.
Sounds like a similar boat to a lot of people who swerved income tax by using dodgy tax schemes that the HMRC is busy working their way through and steadily asking people to pay the income tax they owe. Rather than putting that tax to one side in case the HMRC ruled against the scheme they’ve spent it on living the dream.
The two main solutions are to sell the family home or go back to work. Maybe bankruptcy is the third option but I don’t know much at all about that aspect.
I’m guessing quite a big scheme has just been ruled against as quite a few people are needing to find a large chunk of money at the moment?
The two main solutions are to sell the family home or go back to work. Maybe bankruptcy is the third option but I don’t know much at all about that aspect.
I’m guessing quite a big scheme has just been ruled against as quite a few people are needing to find a large chunk of money at the moment?
Condi said:
If anyone has a surefire way to turn 10k into 200k within 15 months can they let me know too.
Isn't how to make money one core essential aim when seeking financial advice? What's needed here is an expert in making money to advise on how to make £200k. Not £2billion. £200k. And whilst suggesting criminality is possibly viable, it isn't in this instance acceptable.
Make no mistake, this HAS to be done, or assets will have to be sold, which is not acceptable either.
selmahoose said:
Condi said:
If anyone has a surefire way to turn 10k into 200k within 15 months can they let me know too.
Isn't how to make money one core essential aim when seeking financial advice? What's needed here is an expert in making money to advise on how to make £200k. Not £2billion. £200k. And whilst suggesting criminality is possibly viable, it isn't in this instance acceptable.
Make no mistake, this HAS to be done, or assets will have to be sold, which is not acceptable either.
Your client has amusing views on what is and isn’t ‘acceptable’ for someone with a £200k bill and no liquidity. If I had one like that I would drop them pretty sharpish.
The £10k starting point is the issue - your chances of making a 20x return in a short timeframe are next to zero (now that the crypto bust has happened).
selmahoose said:
Condi said:
If anyone has a surefire way to turn 10k into 200k within 15 months can they let me know too.
Isn't how to make money one core essential aim when seeking financial advice? What's needed here is an expert in making money to advise on how to make £200k. Not £2billion. £200k. And whilst suggesting criminality is possibly viable, it isn't in this instance acceptable.
Make no mistake, this HAS to be done, or assets will have to be sold, which is not acceptable either.
selmahoose said:
No. His wife's customary input into financial problem-solving is generally confined to providing tea and sympathy. And offing her for the LA, apart from being highly unethical, isn't an acceptable plan either.
Shame. Properly marketed you could have rented her out for a couple of grand a week if she was prepared to put the hours in. You'd have been half way there then.If you have a wide business network set up an insurance broker, get them to transfer their business in to you. You will need about 15k a month in commission and you should get 200k in a quick sale.
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