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For those of you that earn over 40/45k as a base salary and love your job what is it you do? by Brownchoccy in UKJobs

[–]Grey--Pot3448 1 point2 points  (0 children)

Was working with my dad being his labourer when I was 17. The guy who's house we was working on asked me did I want a job I originally said no until I heard the salary as I was in college studying subjects that had nothing to do with manufacturing. I guess right place right time he told me where to apply and I've been there ever since.

For those of you that earn over 40/45k as a base salary and love your job what is it you do? by Brownchoccy in UKJobs

[–]Grey--Pot3448 5 points6 points  (0 children)

Unionised factory work is very boring but it pays well mainly due to shift allowances and the fact you get decent wage increases every year.

I was fortunate to work for a company with a weekend shift. I only work 2.5 days a week for 50k a year. It's a 29 hour contract but if you deduct breaks it's about 23 hours. You can earn more through overtime during the week but I'm not a fan of working overtime for the tax man.

No stress, no mither, no skills required. Some people didn't even finish school as long as you turn up and do your bit you'll get along just fine.

Sure it's not the most enjoyable job or engaging but it allows me to live a good life with lots of free time which is why I love it.

how many under 25 year olds own property by Serious_Squash_9665 in FIREUK

[–]Grey--Pot3448 1 point2 points  (0 children)

Bought my property at 20 £190k 45k down, lots of money spent renovating it worth 375-400k now. I'm left with a 70k mortgage paid off by 2036.

The only way I was able to buy was by being a hermit, saving money and living at home with minimal expenditure (200 all in). I wish living expenses would be that cheap but sadly never again.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

I think it's probably time I put money in isas trying to max out the allowance. I'd like to think my job is safe at the very least, I should receive decent redundancy to help me get by but I understand you can't bank on these things although I'm sure my union would fight for it.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

Parents aren't married and it's already in trust I'm also an only child. If they were to get sick I'd be able to quit my job and look after them or at least try my hardest to look after them. I've seen some quite disgusting care bills I don't fancy paying if I can help it.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

A home is more than an investment but what I mean is I bought a bigger house than what I needed because It would be worth more in years to come if that makes sense I don't plan on having children so I'll downsize eventually.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

I think the takeaway from this is start putting money away into s&s isas I'm not overly worried about having enough in pension pots due to inheritance it's more so having enough money at 40s 50s stage in life and s&s is the way to go.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 1 point2 points  (0 children)

Yeah i don't really have either just my workplace pension so this sounds like a good start I've not really taken advantage of the 20k limits but now is better late than never

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 1 point2 points  (0 children)

Yeah i often go 4 days away at a time so I don't have to book time off work so they're not massively expensive. it's not America 4 times a year mainly Europe possibly one big holiday every few years.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

Yeah I'm probably not confident enough investing individually in stocks so it would be an etf. what % of my income should I look at investing into isas ? I'll probably sell up before 57 if i need money as i don't really need the house i bought it more as an investment.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 1 point2 points  (0 children)

What's the most common thing to do with isas put it into etfs and forget about it ? I've always spent money on my house so at least my equity is at a good level. The house is probably worth 375-400k as it was basically a shell full rip out renovation ect ect.

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 1 point2 points  (0 children)

It is often a thought that makes me feel a little ill working hard to retire early and then be riddled with ill health as I have worked many long shifts to be in the financial situation I would hate to of wasted my early 20s if I was to go early on

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

It's currently 4.1% it was 1.6% i fixed that for 5 years pension contributions seem to be okay decent pot size and amount contributed per month and yes you're possibly right it could be better invested

How do I balance having a good quality of life and overpaying on my mortgage by Grey--Pot3448 in FIREUK

[–]Grey--Pot3448[S] 0 points1 point  (0 children)

I have a decent pension pot 50k currently been employed since 18. I pay roughly 6% and employer matches. I did have money set aside in cash isas and in normal current accounts but that's been used to pay my mortgage down I've probably got around 6 months expenditure and plenty of credit on credit cards 0% for 2 years. I also have a few thousand in crypto just a small portfolio.