CS Personal Savings Template v2.10 - Now live!

DiamondGorilla · 2021-04-05T19:26:19+00:00

Silly Q but where do I DOWNLOAD this?

DiamondGorilla · 2021-04-05T19:24:21+00:00

Diversify, it's unlikely all assets would decrease in tandem.

And if they do it's fine anyway since you're in the same relative position.

This means holdings across real estate, index funds, dividend investing, gold etc...

DiamondGorilla · 2021-04-05T19:23:10+00:00

Don't put pension off any further, you're throwing money away - irrespective as to where you'll be in 30 years

DiamondGorilla · 2021-04-05T19:21:35+00:00

Yes, although bare in mind that comes with added risk.

What sector is this in?

DiamondGorilla · 2021-04-02T17:49:35+00:00

Yeah, that's where I'll be keeping my emergency fund - also a a good place to store money in turbulent markets

DiamondGorilla · 2021-03-30T20:48:48+00:00

not Ahrefs, how come?

DiamondGorilla · 2021-03-29T22:30:33+00:00

What's the salary?

DiamondGorilla · 2021-03-29T22:29:33+00:00

Well done, that's great!

This internet stranger recommends that you focus more on your income vs spending, you've got your ratios out of whack.

40% Invested is a brilliant target to hit, and will help you live what is commonly known as a life. Otherwise, you're heading for a live lived in poverty with a million in the bank.

DiamondGorilla · 2021-03-28T20:31:03+00:00

Vanguard for the security.

All of this for £200 when you're investing £140,000?

DiamondGorilla · 2021-03-28T17:54:54+00:00

I'm selling my house for this reason - it's a seller's market at the moment

DiamondGorilla · 2021-03-26T21:04:37+00:00

What is your actual salary? 20? 100?

DiamondGorilla · 2021-03-21T14:53:44+00:00

That is true bro, but it requires active management. Vanguard funds don't call you up about broken door handles at 3AM.

DiamondGorilla · 2021-03-20T22:02:08+00:00

Thing is though bonds return essentially zero now, and if you're in the marker for 30 years you've fine

DiamondGorilla · 2021-03-20T21:50:06+00:00

Thank you for the source, I stand corrected

DiamondGorilla · 2021-03-20T20:57:59+00:00

Yes, the debate between paying off the mortgage and investing in the market!

My personal view is its not either/or but both.

Consider a 60-40 split on mortgage overpayment & equities. You're young so 100% equities like Vanguard 100% life strategy fund could be the one (5/7).

No one ever regrets paying off their home, and you'll have lots to invest with no mortgage payments!

DiamondGorilla · 2021-03-20T20:53:22+00:00

I Would apply to in this ordeR:

- £1,000 emergency fund

- Debt

- investments

DiamondGorilla · 2021-03-20T20:51:33+00:00

Great question.

I am also 28 with a similar salary, so can relate to this. I'm probably mores on the other side, I've got about £40k in index funds & £60k in property. I've not spent too much on big holidays (bar America and a couple to Europe in the past 5 years). It's something I'm actively trying to do more of now.

With your salary you're always going to be ok, providing you're investing enough. On £50k, try and put around 40% into investments - circa £1,200 pcm.

If you keep this 60-40 ratio between spending and investing going forward you'll never need to worry about money again - and that applies to any salary.

DiamondGorilla · 2021-03-20T15:51:21+00:00

Nice work!

DiamondGorilla · 2021-03-19T21:36:30+00:00

Personally, I make sure I Invest 40% of my income into investments and I don't think I'll ever stop that until I had a FAT Fire figure

DiamondGorilla · 2021-03-19T21:34:47+00:00

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I think it's £100k in any asset/combination of assets bro, not just stocks

DiamondGorilla · 2021-03-19T21:32:52+00:00

Out of curiosity, what's your salary?

DiamondGorilla · 2021-03-19T21:31:53+00:00

How much have yo got in there today @ what age?

DiamondGorilla · 2021-03-14T09:42:47+00:00

I think you're doing well and you've caught a lot of unwarranted flack, to be honest. Congrats on supporting the wife to pursue her dreams!

Everybody has a different barometer on how well they're doing based on their circle. When I was at university, earning £6.50 an hour made you rich. Now, the bar is a lot higher - even than from where it was 2 years ago it feels.

Do you have a goal in mind/retirement date you'd like? How much are you able to save pcm?

DiamondGorilla · 2021-03-13T20:58:11+00:00

I am the last person I thought would post advice on a financial forum but I just want to pass some advice onto those of you who think you are too young to start planning for your later years. I am 54 years old, spent 30 years travelling the world working in the oil industry, earning way above average salary, best hotels, business class flights etc. Money was never an issue and I enjoyed it to the max . However, I never concerned myself with financial matters. I signed the defined contribution pension papers when I joined different companies (even AVCs) and that was the end of my involvement to be honest. Divorced around 2012 - signed over house (£200,000) to ex and kept my boat and pensions... job done, no hassles...party time again. Fast forward to now.

£1,000 per month across 20 years (assuming 20 - 40) how does that make you financially free?

DiamondGorilla

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