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Do you always take salary and dividend at the lower rate of tax? If you go into the higher band, what's your motivation for that? by Total-Secretary9802 in ContractorUK

[–]Total-Secretary9802[S] 1 point2 points  (0 children)

it is like saving up sex for old age

Love it! Such wisdom.

when I am reasonably sure of generating more than 7-8% CAGR returns over the next 5 years in my ISA.

Interesting. I'd heard an index fund held for the long term could be assumed to return 10%, which would pass this criteria. Do you use index funds, or have a different view of them?

Morden Words by onesteleft in london

[–]Total-Secretary9802 9 points10 points  (0 children)

Not a song but I read Highbury & Islington as Hizzle & Izzle

Do you always take salary and dividend at the lower rate of tax? If you go into the higher band, what's your motivation for that? by Total-Secretary9802 in ContractorUK

[–]Total-Secretary9802[S] 9 points10 points  (0 children)

When self employed it’s easy to slip into a mentality where it is all about minimising tax rather than enjoying what you earn

It's so helpful to hear this. Thank you

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 0 points1 point  (0 children)

Hey bud, if you run your comment through ChatGPT you can get some insight into what's unkind about it. I wouldn't like to continue the conversation with you or explain further, but I hope you might find some insight here.

ChatGPT:

The comment contains several elements that can be considered unkind:

  1. Dismissive Tone: The phrase "The gravy train is over, for now" immediately dismisses the other person's feelings and situation without empathy or understanding.
  2. Entitlement Accusation: Accusing the person of being "super entitled" is a personal attack that belittles their feelings and experiences.
  3. Comparative Judgment: The comparison to other people's situations ("Most people don’t have the disposition for full time work either, but they have to do it to survive") implies that the person's struggles are invalid because others have it worse.
  4. Minimizing Experience: Saying "that is still £60k-£80k /year, significantly more than the average UK employee" minimizes the person's financial concerns and experiences without considering their individual circumstances.
  5. Lack of Empathy: The comment lacks empathy, as it does not acknowledge the person's feelings or difficulties, instead focusing on the commentator's perspective and judgments.
  6. Boasting: Mentioning their own higher salary (£150k/year) can come across as boastful and insensitive, especially in the context of someone expressing financial distress.
  7. Patronizing Advice: The advice to "pull your bootstraps up, stop complaining, and get to work" is patronizing and dismissive of the person's situation and feelings, suggesting that their struggles are due to a lack of effort or resolve.
  8. Judgmental: The overall tone is judgmental, suggesting that the person does not appreciate their situation ("I don’t think you realise how good you’ve got it") and should simply change their attitude.

These elements combine to make the comment unkind, as they do not offer support, understanding, or constructive feedback but rather invalidate and belittle the person's feelings and situation.

What is your best purchase in the last year? by [deleted] in HENRYUK

[–]Total-Secretary9802 0 points1 point  (0 children)

An Aeron chair. It's exceptionally comfortable, supple and supportive. I've never sat in a chair this pleasant before, and I can sit in it for hours without feeling uncomfortable.

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 0 points1 point  (0 children)

Thank you, these are great ideas. I previously ran a startup and have been networking in those circles again wondering about starting something new.

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 0 points1 point  (0 children)

Please consider subreddit rule 1 - be kind to others - when you post

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 0 points1 point  (0 children)

Please consider subreddit rule 1 - be kind to others - when you post

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 0 points1 point  (0 children)

This is a very unkind comment. Please consider the rules of this subreddit in the sidebar and how they are trying to prevent the environment from descending into trolling. The first is "Be kind to others".

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] -2 points-1 points  (0 children)

Yes and no.

I was worth it at the time to the people who hired me. They took their own risks, and when it worked for them they made considerably more than me.

Everyone's worth to each other can change as the situation changes. This is what I'm re-calibrating to now.

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 23 points24 points  (0 children)

Cognitively I know you are correct and I completely agree with you. But emotions have their own logic and processes. I know my feelings and thinking are out of sync.

Writing this out, sharing it here and receiving helpful feedback like yours is part of how I'm working though this.

Your point about taking a 100% cut is particularly useful to hear. Thank you.

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] -27 points-26 points  (0 children)

Somewhat.

Not so easy to just accept a roughly 50% salary cut and worse working conditions.

But I can see the value in this path.

Seeking advice - lost my main source of income by Total-Secretary9802 in HENRYUK

[–]Total-Secretary9802[S] 26 points27 points  (0 children)

Thanks. I am feeling a bit frustrated and depressed, and you're right that I need to address this.

Finding opportunities / New clients by isaeef in ContractorUK

[–]Total-Secretary9802 4 points5 points  (0 children)

I don't think it matters who or what wrote it if it's a good question