Jacking it all in.
Discussion
I have worked very hard all my life, doing a stressful job.
Now, at the grand old age of 33 (Yes I know). I quite fancy "retiring". I'm not going to curl up into a ball and fade away, but I would rather do just the things I want to do. When I want to do.
The house is paid up, In a desirable area in the South East (UK). 3 children, all under 3 years old, and I would very much like to spend more time with them. I could also do with reducing the stress in my life.
I could do with a bigger house, more land etc...
So... Do i.....
- Stay put, work harder. in a couple years get a bigger house in the south-east with little to no mortgage, then semi-retire with just enough income to pay off the small mortgage.
- Sell up, buy a big place in the sticks. Maby run a BnB from it, part-time work. etc.. ?
- Stay put, get a big house, big mortgage and just "deal with it", giving the wife and kids everything they could want. But not me... I will be at work.
Anyone here done it before? Concerns are the kids schooling and work prospectus after school, the wife's friends and gossip groups and proximity to family (Aging parents etc...)
Now, at the grand old age of 33 (Yes I know). I quite fancy "retiring". I'm not going to curl up into a ball and fade away, but I would rather do just the things I want to do. When I want to do.
The house is paid up, In a desirable area in the South East (UK). 3 children, all under 3 years old, and I would very much like to spend more time with them. I could also do with reducing the stress in my life.
I could do with a bigger house, more land etc...
So... Do i.....
- Stay put, work harder. in a couple years get a bigger house in the south-east with little to no mortgage, then semi-retire with just enough income to pay off the small mortgage.
- Sell up, buy a big place in the sticks. Maby run a BnB from it, part-time work. etc.. ?
- Stay put, get a big house, big mortgage and just "deal with it", giving the wife and kids everything they could want. But not me... I will be at work.
Anyone here done it before? Concerns are the kids schooling and work prospectus after school, the wife's friends and gossip groups and proximity to family (Aging parents etc...)
Butter Face said:
I would suggest that running a BnB is not a part time job and would be a right royal pain in the ass.
Anyone who can turn cooking breakfast, changing bed sheets, general cleaning and taking money into a full-time job, has not worked a full-time job.Getting lazy... I could do holiday lets. Change over once a week. ish.
Prizam said:
- Stay put, get a big house, big mortgage and just "deal with it", giving the wife and kids everything they could want. But not me... I will be at work.
Why do you need a bigger house?
Yours is all paid for in a nice area and unless you actually need the room, what's the point? You are simply forcing yourself to reman on the treadmill for years to come because maybe you need a big house to show others you're successful? Sometimes a three bed semi is enough. It seems nowadays that we must always be upgrading something at any given time whether that's phones, cars or houses.
Focus on what's important to you and your family. If it's 'things' then keep as you are now, if it's quality time then don't be afraid to jack it in.
Also, can you take a leave of absence from work? Say a year or two? Give you a fallback if the B&B or whatever doesn't work out.
Yours is all paid for in a nice area and unless you actually need the room, what's the point? You are simply forcing yourself to reman on the treadmill for years to come because maybe you need a big house to show others you're successful? Sometimes a three bed semi is enough. It seems nowadays that we must always be upgrading something at any given time whether that's phones, cars or houses.
Focus on what's important to you and your family. If it's 'things' then keep as you are now, if it's quality time then don't be afraid to jack it in.
Also, can you take a leave of absence from work? Say a year or two? Give you a fallback if the B&B or whatever doesn't work out.
Nickbrapp said:
I bet if you sold your house you could buy a stunning house in Wales
Trading in for a 12-bed Georgian manor house is rather appealing. Running, and fix'er up costs must be eye-watering though. I would need to employ a grounds guy for most of the properties I'm looking at for a start.Prizam said:
Anyone who can turn cooking breakfast, changing bed sheets, general cleaning and taking money into a full-time job, has not worked a full-time job.
Getting lazy... I could do holiday lets. Change over once a week. ish.
The thing that would put me off running a B&B would be the need to be around all the time. You need to be up to do breakfasts when you fancy a lie in on a Sunday morning, and you need to be home when everyone else is on holiday.Getting lazy... I could do holiday lets. Change over once a week. ish.
RizzoTheRat said:
The thing that would put me off running a B&B would be the need to be around all the time. You need to be up to do breakfasts when you fancy a lie in on a Sunday morning, and you need to be home when everyone else is on holiday.
Yeah, I can imagine in reality its a bit of a burden. The bit that would put me off is people.LordHaveMurci said:
Until I sent her details of a lovely doer upper in a remote ish part of Wales with lots of outbuildings & potential, then she became a lot less ambivalent!
In what direction? Wanting to get stuck in, or worrying about having a sheepskin handbag and no friends within 20 miles?alterntively, buy a bigger place in london, work for 5 years then sell that, have a much bigger lump sum to buy a house in the sticks and have more cash to support you while you set up your second life.
I lived in London from 1984, sold up in 20(half price of london house) in a little villages 10 minutes from chester, 100 yards from the local.. oh and put the rest of the cash from the london house into my pension
of course I was older than you when I did this, but having a house in london is of no use unless you cash it in and get out at some point and go and have a nice life
I lived in London from 1984, sold up in 20(half price of london house) in a little villages 10 minutes from chester, 100 yards from the local.. oh and put the rest of the cash from the london house into my pension
of course I was older than you when I did this, but having a house in london is of no use unless you cash it in and get out at some point and go and have a nice life
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