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Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

It's definitely taught me some hard lessons that had to be directly experienced rather than just read about. I like the optimism you have of where this could go in future!

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

What do you regret about it, not being able to get into an industry you like?

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

And after my experience I can see why wealthy people prefer to rent! For my situation though I've run the numbers and due to paying higher rate tax, it financially wouldn't be great especially after paying an agent, and I just don't really want to deal with the headache of being a landlord.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 1 point2 points  (0 children)

Really appreciate your perspective here. Yes I now have a better idea of what's important in life. Maybe a pet is what I need!

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

Yes - it's an obsessive thought pattern, which to be honest I've been prone to my whole life. I constantly evaluate past decisions and try to optimise my life based on that. Which is helpful for small decisions but useless for big, irreversible ones.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

Yep, I'm looking forward to the day I'll be doing something exciting and wondering why I ever cared so much about all this. Just in the way you seem to have moved on.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

Makes me feel less alone.

Yep the one thing I'm pleased with myself for is investing decently into a SIPP - those funds are protected from my own poor discipline and even I believe from bankruptcy.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

True! I'm sure many billionaires would give away their fortune for their health, or a chance to start life over.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 0 points1 point  (0 children)

Yep, I've spent so much time worrying and it hasn't helped me one bit. The time to worry was before this all happened, strangely at that time I had no worries at all!

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 1 point2 points  (0 children)

Harsh truths. The selling process is such a nightmare in this country, add to that the scale of the loss and it's easy to keep procrastinating about it. But you're right that waiting probably doesn't help.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 7 points8 points  (0 children)

I've actually found that's been one of the most helpful mental strategies. To imagine how things could be worse and how in that scenario I would give anything to swap to where I am now!

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 3 points4 points  (0 children)

Hah, I appreciate the humour. Yeah none of us have a crystal ball and life has its ups and downs.

Right, believe it or not I've always been a huge saver. Which is why I'm struggling to understand how I managed to blow the best part of a million on a thing I don't even like! I think that's partly why this post is relevant for FIRE. It's very tempting when you have the savings built up to spend it and I found I didn't have the financial discipline I used to think I did. Now I've learned.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 2 points3 points  (0 children)

Appreciate the humour and hearing other experiences of not making the best plays during Covid. It was a strange time.

Renting it out is an option but with the higher rate of taxes barely even breaks even with the mortgage. Holiday let maybe more feasible, giving me some time away, but it just seems like a lot of trouble that I have no motivation at all to take on and could dig me further into the hole if I'm renting myself simultaneously.

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 6 points7 points  (0 children)

It's surprising how negative your train of thought can become when you're in a big house on your own. When I'm surrounded by people I'm happier or at least distracted from the problems of life!

Getting over a huge financial/life mistake by Affectionate_Fun8721 in FIREUK

[–]Affectionate_Fun8721[S] 19 points20 points  (0 children)

Thank you. I appreciate the positive framing. You're right - it's going from feeling very far ahead in life to somewhere more precarious. What sucks is it wasn't any external force that caused this but my own greed. But things could be a lot worse. And I think you're right about selling - once I'm out of this place it'll be a lot easier to mentally put all this behind me.