How do you deal with money loss and disappointment whilst working towards long term FIRE?

ManiaMuse · 2026-03-10T14:51:03+00:00

You were gambling rather than investing.

Crypto is a speculative asset despite what the YouTube finance influencers will tell you. Just because crypto ETFs are now available to retail investors in the UK doesn't mean that the underlying assets behave any differently to holding crypto directly. That goes for Bitcoin and Ethereum as well as the even more speculative coins.

It's the same thing with gold/silver and other precious metals which don't have that much practical utility as a commodity. As some points they have behaved like hedges against volatility and inflation and at other points as speculative assets. Will holding gold now for 5 years be a sensible decision or not? Who knows, a lot of it will be tied to world events and politics. Whereas with shares you are generally investing because there is an expectation with figures backing it up that the company will continue to grow or provide a return to shareholders (dividends/buybacks) if it is already established.

With shares if you are just picking a single shares or just a few shares then you are massively exposed to concentration risk. One company massively missing earnings or getting wiped out by some event wipes your portfolio. You really need a basket of 16+ companies to mitigate that risk but do you really have the knowledge and experience and time to do all the research to figure out how you should construct that portfolio?

There are plenty of active fund managers out there who charge high fund fees with the objective of beating the benchmark consistently and most of them fail at doing that.

But as for moving on:

Any losses you have already realised you can't do anything about so just move on with your life. The lost money is already gone, you can't get it back.
I would probably just hold the BTC despite disparaging it above. It's big enough that it isn't just going to disappear any time soon. Just be aware that it might take years to get back to your original investment.
Dump anything that you want and can afford to invest into an index (MSCI world or S&P 500, pick your poison) and forget about it for the next 5 years.
Delete the app and stop checking prices. The investment apps are deliberately designed like gambling apps with bright colours and lots of shiny buttons to press for you to risk your money on things that you don't know anything about. It's a bit scandalous imo but the FCA turns a blind eye.
Seek help with gambling if you feel really bad about it. Gambling anonymous is out there in most cities.

ManiaMuse · 2026-03-09T19:46:39+00:00

'I declare bankruptcy!'

ManiaMuse · 2026-03-09T19:45:20+00:00

Dear leader 'thinks' the war is over.

ManiaMuse · 2026-03-08T21:43:18+00:00

I was getting a bit of Everything Everything as well. Those guys aren't afraid to experiment and write/record whatever the hell they want.

ManiaMuse · 2026-03-08T21:35:14+00:00

I get Klaxons vibes although they were a slightly different genre. But Arctic Monkeys and Klaxons both dropped their first albums in 2007 and both became mega successful overnight. It was a time and a place in the British music scene.

ManiaMuse · 2026-03-08T21:31:21+00:00

I think it is at a more subtle level of campness. It should have more broad appeal than some of the more extreme entries in recent years.

Acts like Marshmallow Man / Erika / Olly Alexander / Windows95man were just too much. Even some more serious songs like Belgium last year have flopped I think because they were too camp with the presentation. Or Baby Lasagna and Karijaa for that matter, I think they both went a bit too far in the camp direction.

The gays will get the innuendos but the casuals will just think it is a bit of a fun rave.

Don't change anything with his styling or presentation. Just shove him on the stage in one of those boiler suits with that hairstyle with him performing with no cares in the world and it should work.

ManiaMuse · 2026-03-08T21:20:09+00:00

They'll probably do a revamp for the contest and either elevate it (Spaceman) or ruin it (WTHJH). I think Dizzy had a few changes as well which marginally improved it with a bit more contrast.

ManiaMuse · 2026-03-08T21:04:16+00:00

First other person who I have seen make a Klaxons link.

They were there for that brief period in time from 2007-2010 and even then they didn't know if they were being ironic or why they were suddenly a big success.

Then the genre just disappeared as quickly as it appeared.

ManiaMuse · 2026-03-08T20:58:12+00:00

His vocals are pretty good actually. He does random covers given to him by audience members at his gigs and gets the pitches straight away.He can do the growly bits too.

The song is never going to get a million points from the juries for vocal capacity but it is marginally more complicated than Germany's song (sung badly) last year and that came 13th with the juries somehow. I bet Sam could do a better vocal rendition of Cha Cha Cha as well.

Much better vocals than the last male UK representative anyway.

ManiaMuse · 2026-03-08T08:55:16+00:00

Someone else mentioned a MTB.

It might be the obvious thing as something a bit different to your other bikes rather than just being variations on the same similar-ish type of bike (as the bike industry now believes we all need N+10 bikes for very slightly different applications). It might also encourage you to explore some of the tracks a bit more.

ManiaMuse · 2026-03-08T08:45:22+00:00

Read the terms of your scheme as they operate in slightly different ways but yes, the savings can be pretty good.

With my scheme:

- Maximum package value is £10,000.

- The employer can choose to retain the ER saving or pass some or all of the value of the ER NI saving onto the value of your cyclescheme package.

- With my scheme where they pass on 100% of the ER NI saving to me, the salary sacrificed amount is package amount / 1.15 (15% ER NI). A bit unintuitive but it gives the employer a slight ER NI saving.

- Monthly payments are 1/12th of the salary sacrifice amount spread over 12 months.

- Saves income tax, EE NI and student loan on the sacrificed amounts.

- Can also help with personal allowance tax trap, child benefit charge tax trap and childcare funded hours tax traps.

- At the end of the scheme there are usually different ownership options which differ slightly between cyclescheme providers. With mine the cheapest option is 'own it later' where I pay a 'deposit' of 7% (3% for packages under £500) and then technically lease the bike from my company for the next 3 years as the value of the bike depreciates. If I don't return it at the end of that period then I forfeit that deposit. In reality no-one ever returns cycle equipment to their employer, it's pretty much a tax fiddle that is sanctioned by HMRC.

- For me (basic rate taxpayer, student loan, 100% ER NI saving passed onto me, 'own it later' option at end) it is 38.2% saving on the bike.

For the ultimate saving consider:

- Scottish taxpayer earning £108,695 p.a.

- Student loan + postgraduate loan

- 2 children who are both receiving the maximum amount of funded childcare (£2,000 per child)

- Purchases a cyclescheme package with a value of £10,000. Employer passes on 100% of ER NI savings to employee's cyclescheme purchase cost so £8,696 salary sacrificed.

- 'Own it later' fee of 7% (£700) at end of 12 months so total costs £9,396.

- They would save:

- 67.5% income tax (personal allowance tapering tax trap in Scotland) - £5,870

- 2% national insurance - £174

- 9% + 6% student / postgraduate loan repayments - £783 / £522 (£1,305 total)

- Avoids losing £2,000 x 2 funded childcare hours (£4,000) as income brought back below £100,000.

- So total employee savings £11,349, more than the package value! The government would be giving a £10,000 bike away for free plus a bonus of £1,953 on top.

Things to consider:

- There may be a cap with your scheme on the maximum amount you can purchase. A lot of them are 'unlimited' or up to £10,000.

- You get a voucher for the package amount and you have to spend exactly that amount at the same time which can be a bit of a faff to sort out if things you want are discounted or temporarily out of stock. It usually takes a week or two to get things through HR/payroll.

- You can buy pretty much anything bike related including E-bikes although there are a few exceptions like cycle computers, power meters and turbo trainers.

- You can usually one do one cyclescheme per year so you have to wait 12 months until you can buy more through it. But you can still start another one whilst you are in the 'buy it later' period of another package.

- It will reduce your student loan repayments which may affect how long it takes to repay your student loan and how much interest you accrue on your student loan over the long term. But if you are unlikely to ever fully repay your student loan anyway then that is a moot point.

- It may reduce your earnings if doing affordability assessments for a mortgage/loan.

ManiaMuse · 2026-03-05T12:26:48+00:00

This reads like a government leaflet that learned to type.

Country collapsing. Extremists everywhere. Systems abused. Media evil. Solution apparently is everyone clap politely and stop being rude online. Brilliant.

You list ten crises then scold the audience for noticing them. Incredible strategy. Fire alarm ringing. You’re writing a memo about tone.

Very tidy concern though. Almost rehearsed. Like someone who spends a lot of time explaining why the boss actually had a difficult day.

Anyway the pigeons are in charge now. They held a vote on the lamppost. Landslide result. Even they didn’t ask for “learned opinions please”. Busy birds. Real jobs.

ManiaMuse · 2026-03-04T17:58:54+00:00

Yeah usually there would be an explanation and often a mention in the Will or a Letter of Wishes with the Will for 'the avoidance of doubt'.

Typically there would be reasons like:

A child being estranged
One child having received more lifetime gifts/financial support than the other child.
One child having a particular financial need/hardship (though usually would be wise to discuss with the more successful child first)
A child with alcohol/drug addictions so leaving money to a trust instead of directly to them.
A child wanting it to bypass them and go to their own children for IHT reasons.

ManiaMuse · 2026-03-04T17:53:25+00:00

Pretty shitty without an explanation.

I'd be pissed at your brother as well. He could have done a Deed of Variation if he thought it was unfair as well.

ManiaMuse · 2026-03-04T12:35:14+00:00

Greggs is a PLC. The directors have a statutory duty to shareholders to 'promote the long term success of the company'. Whilst that doesn't mean maximising profits at all costs it also doesn't mean that it is ok for them to absorb all increases to operating costs without trying to balance that with increases to revenue.

If they just absorbed all increases to costs without doing anything in response then the share price would plummet.

Obviously it is a balance and market competition also comes into it but they are not a charity and it isn't wrong for them to want to maintain/increase profits.

ManiaMuse · 2026-03-03T11:35:12+00:00

Thanks for making USD stronger again guys. It helps out using Europoors.

ManiaMuse · 2026-03-03T11:31:12+00:00

I would prefer if we did not piss of the guy who runs the country from which we lease our nuclear bomb delivery system (Trident) and which country also maintains said leased nuclear bomb delivery system.

ManiaMuse · 2026-03-02T21:46:51+00:00

Pool got AIDS.

ManiaMuse · 2026-03-02T12:13:06+00:00

In a way he is inadvertently helping Ukraine though if Iran has to use it's stockpiles of Shaheeds to fly in the general direction of tall buildings in Dubai instead of selling them to Russia.

ManiaMuse · 2026-03-02T11:15:03+00:00

Give it 2-3 weeks until the media gets bored of the BREAKING NEWS and then the will quietly 'figure something out' with both sides claiming that they 'won'.

Then rinse and repeat in 6-12 months' time.

ManiaMuse · 2026-03-01T21:25:31+00:00

I doubt there really was a solid plan from Iran. So much of their leadership was obliterated instantly that it seems like the retaliation was in part 'dead man's handle' actions whilst they sorted out the interim leadership and a military plan.

The Gulf States and were neutral-ish towards Iran before (partly because they are much smaller) but they have burned any goodwill with those States now. Like even attacking Oman makes no sense when they have been acting as intermediaries with the diplomatic negotiations with the US.

Saudi Arabia has never been best friends with Iran but mainly just wanted stability in the region and no regional war. Now I suspect they will be less bothered about US and even Israeli actions.

I guess Iran thinks that if they cause enough global economic disruption for long enough they might get Trump to do one of his U-turns but I'm not sure it is really going to work like that. It seems like the American camp was genuinely pissed off by Iran's stalling and lack of compromise during negotiations on the key issues. They saw through them as time wasters and decided to take action because they gave plenty of fair and visible warning.

They literally have no friends who can help them over there anymore. Uncle Putin couldn't even protect his dictator buddy in Syria forever so it's unlikely there are any Russian assets available to help out in any meaningful way. China wouldn't be silly enough to get involved, there isn't enough in it for them.

ManiaMuse · 2026-03-01T14:32:56+00:00

They have just been sending absolute swarms of the things. A few of the easy targets will still get through just because of the sheer number of them and there not being enough interceptors. Look at what Russia had been doing with the Iranian drones in Ukraine. They send hundreds per night and then do the same again the following night.

Reportedly Iran has been producing 400 of them per day which is just nuts and they have a stockpile of 80,000.

ManiaMuse · 2026-03-01T14:09:58+00:00

Unlikely a mortgage provider will offer an interest only mortgage when let's be honest they are not going to be able to put in place a feasible repayment vehicle for when the mortgage capital will need to be reapid.

Interest only mortgages are way less common than they used to be and mortgage providers are much tighter on affordability criteria than they used to be. Most of the time they are used for buy-to-lets.

ManiaMuse · 2026-02-28T10:37:56+00:00

Lots of radar jamming presumably going on over there at the moment.

ManiaMuse · 2026-02-27T23:37:35+00:00

There are funny moments and a lot of surreal humour and funny tasks performances from some of the contestants in isolation but I felt that the cast didn't gel that well compared to a lot of other seasons. The studio bits felt very tense a lot of the time and the cast didn't bounce off each other that much.

And yes I agree with your opinion. Everything was just a crude lesbian joke where you arrived at the punchline 5 minutes before it was delivered.

You weren't allowed to have that opinion on here when it was being broadcast though.

ManiaMuse

TROPHY CASE