If you where Mortgage free

[carmanmemoranda]

.

 

[gas112]

This. And I think we've discussed it in other threads.

I live alone, no partner, no kids. In a way it's ironic to think I'll have paid a mortgage for x decades and then yes, when I reach (in my case) around 60 years old, I'll have paid it off and the asset is 100% mine. Roof over my head until I peg it etc.

This is why I'll seriously consider equity release when I retire. If I can release e.g. up to 50% of the property value to spend in my dotage without risk of being turfed out then I'll do it. And pleeeease no lectures about the risks of equity release, I'm aware

in your case i would release as much as i could .

 

[gas112]

.

the most sensible thing you have ever said

 

[Deleted member 294929]

Providing you.

1 understand the market
2 understand the local rules not all countries have guaranteed title
3 have local people to help look after your property

Classic example: My brother (I have 4) lives in a mobile home.
He's currently travelling Morocco . I get the other Sunday while eating Sushi out. He calls his Canadian tenant comes home after a week in Mexico to find water flooding the front of the house.

That's it now, I'm dealing with it all.
The tenant the loss adjuster the drying company, the strip out team, the reinstatement company.

While he's living the life.

 

[Deleted member 294929]

.

Your not being very clear.

 

[Deleted member 294929]

10.8 % it came out at 5 something am, so, 10.8% x 80k x5 = wot I said plus a tad.

OK Bod - and @Mottie try this - open a a share dealing account. It's free and they have "paper" accounts so you practice in a simulator. They have forums - read a bit and you'll soon get the idea. You can also "follow" successful people, at, say, eToro.
Then you can start with one company and a tenner. I found eToro confusing at first, Trading212 is a bit more clear to my mind.
Funny how everything gets clear when you have a tenner on the line. There IS hard stuff, but KISS works.


You don't have to use leverage, unless you want to "short" (bet something willl fall in price). eToro is clearest for that bit, you can use leverage of 1x,2x,5x. or -1x,-2x,-5x.

Absolutely it's for amateurs. I went to Curry's to look at monitors and all the young sales people were trading Crypto (bitcon etc). Lad who cuts my hair trades UK -Turkish currency. Look at the graph long term and you'll see why. He was getting it a bit wrong and losing half his gains in fees because he was at the wrong broker - but once you're involved you find things like that out. I expect a free haircut next time . (AVAtrade fees long term are far less than Trading212).
You have to be unemotional so set rules and stick to them
Lots of students trade overnight. Take that Mongolian Miners. If it had gone wrong and you'd used 100 with nothing leveraged, you could have lost say 2. Go to bed. On the days when it goes right, you see it going right when you're up 2, so you wait until you're up 3 and you put in a stop which guarantees your minimum sell price leaves you at +2. Then you set the stops and go to bed. Or you wait for a bit more then increase your stake. Students have whatsapp groups etc.
Yes you can lose your shirt if you're clueless or emotional or arrogant etc. You have to have rules you stick to. You can prove they work or not in the simulator.


I'd had shares over the years, but recently, first lesson I learned: I put a few £k in, to try to beat building societies. Apple and Meta(Facebook). Meta was great, up a few % in no time. Apple fell. So I sold it. Then it started to go up again so I bought it - for more than I'd just sold it. It went up like 2% then down 3%. So I sold it. You don't want to lose money, you know! Then the penny dropped. Wait for it to fall to the bottom of the "channel" it's in, look at other shares, read the press. Then buy something else less media-sensitive, like General Electric.

Worst likely to happen is that you do nothing when action is needed. You can protect yourself with automatic sell orders, though.
If you were fik and were ex Britich Gas and did a HODL (Hold on for dear life) when Centrica shares got a downgrade last September and started going down, by now you'd be sad. If you'd sold when they got the downgrade you'd have lost 10-12% or so. Only a month or two's gains, so unless you'd just bought, no disaster. If you'd adopted the techniques I explained in the Dealing thread, you'd have got your money back by now.
If you buy say once a week over a period, you won't be as vulnerable to a drop - called Dollar Cost Averaging. DIversify if you think you need to.

This is interesting. I'll find time to read thst all again.

I have an account with IG but nothing has happened up until now.

Do you think IG is a good place to trade?

 

[Arbu]

If you where Morgage free, and what would you do to make money for your later years.

As long as I keep my health I have 13 + years left before I want to retire. I'm 57 now.

Is anyone in a similar position? Who wants or needs to make this freedom and time count?

I'm in this situation, 55. I don't worry about making money for my later years because I make modest amounts of money online now, and don't see why I wouldn't be able to do that at any age. And I will in any case have pension income on top in the future. Matched betting, bank account switches, mystery shopping are all good sources of small income if you have time on your hands. I also try financial trading (see Justin Passing's thread elsewhere), but it's not very successful.

 

[carmanmemoranda]

Classic example: My brother (I have 4) lives in a mobile home.
He's currently travelling Morocco . I get the other Sunday while eating Sushi out. He calls his Canadian tenant comes home after a week in Mexico to find water flooding the front of the house.

That's it now, I'm dealing with it all.
The tenant the loss adjuster the drying company, the strip out team, the reinstatement company.

While he's living the life.

Who has got it right ?

 

[carmanmemoranda]

I'm in this situation, 55. I don't worry about making money for my later years because I make modest amounts of money online now, and don't see why I wouldn't be able to do that at any age. And I will in any case have pension income on top in the future. Matched betting, bank account switches, mystery shopping are all good sources of small income if you have time on your hands. I also try financial trading (see Justin Passing's thread elsewhere), but it's not very successful.

Not my way of doing things, but proving that you only need enough to live on and enjoy doing what you want once the mortgage is paid off.

Sone focus on making money, some focus on making the most of their time.

Individual choice

 

[Odds]

Not my way of doing things, but proving that you only need enough to live on and enjoy doing what you want once the mortgage is paid off.

Sone focus on making money, some focus on making the most of their time.

Individual choice

If you listen to Tevya sing 'If i were a rich man', he needs nothing more than a good library to understand his faith. A good Jew.

 

[ReganAndCarter]

the appreciating value is irrelevant IMHO

Yes, appreciating value is unimportant for your home. Only time it is a bonus is if you own more properties.

 

[Murdochcat]

This. And I think we've discussed it in other threads.

I live alone, no partner, no kids. In a way it's ironic to think I'll have paid a mortgage for x decades and then yes, when I reach (in my case) around 60 years old, I'll have paid it off and the asset is 100% mine. Roof over my head until I peg it etc.

This is why I'll seriously consider equity release when I retire. If I can release e.g. up to 50% of the property value to spend in my dotage without risk of being turfed out then I'll do it. And pleeeease no lectures about the risks of equity release, I'm aware

Tread carefully with equity release. They have to be careful too BUT if you need to down size at some point you have to pay them off first so you might find you are trapped in a home you can’t afford and by selling you might not be able to afford to buy a smaller one

Downsizing now is probably the best option to release capital and lower your outgoings

 

[Justin Passing]

I can't get out much, so it's not wasting an active life, I've been everywhere in postings and other travels. It gets to be all a bit similar.
Just an interested awareness can gain you a lot of cash, compared wth the folk who leave savings in poor-paying accounts.
Look up swing trading. You buy when a particular stock's price goes low for no reason, which they all do, then sell when it's relatively high.
You can beat inlflation easily, with not much attention, not critically timed. Swing trades can take days weeks or months.

Ftse over the years, below: the box is 5% high.

Not hard to decide if it's highish now or lowish now compared with how it has been. Aim for when it's turning. You can set Alerts, all in a phone app where you can also do the business.
Sell when highish, buy when lowish. You'd make 5-10% every couple of months. There are multiplied "products" you can use to get a wider swing, and inverse ones to profit when it's falling. If you miss one, just go to cash, and/or wait for the next cycle, no problem.
This is 10 swings in about 30 months. 20 if you swing both ways

Say 20 x 5% = 100% in 30 months. Double yer muneee. Bldg soc would be what, 13%?
If you used a 2x and a -2x you'd make 200%.
There are 3x and a 5x - need a bit more watching.
( eg, -3x means if it goes down 10%, your money goes up 30%. Beware though, Best to use very selectively only once fully understood, when the mood is constant)

Do you think IG is a good place to trade?

Fine. Arbu uses them - I haven't.
MANY platforms will give you interest on uninvested cash now, Interactive Brokers and T212 do. I get 5%. Instant withdrawal. Makes it very easy. Also £ to $ is only 0.15%. I get a popup every week day telling me I have £23 or whatever interest for the day.

 

[gas112]

Like all gamblers your telling us about all your wins jp but what is the most you have lost in a day /week/ month and is it possible someone can lose the lot

 

[diy_fun_uk]

Like all gamblers your telling us about all your wins jp but what is the most you have lost in a day /week/ month and is it possible someone can lose the lot

What Percentage of Swing Traders Make Money & Are “Successful”?​

So – success in swing trading (for the purpose of this discussion) is defined by reporting a profit annually. We’re not going to go into the details of the average income of a swing trader – or what dollar amount constitutes success. Because again – monetary goals will undoubtedly vary from person to person. Thus, we’re going to ask a more relevant question in terms of the swing trading success rate: what percentage of swing traders make money in the stock market?

We’ve seen estimations that as many as 90% of swing traders fail to make money in the stock market – meaning they either break even or lose money. That suggests that the average swing trading success rate is somewhere around 10% – meaning 10% of swing traders actually bring in profit over the course of a year. Now – we don’t say this to discourage you. Keep in mind that the vast majority of traders treat it more like gambling. They don’t actually use software to help them make emotionless decisions, they don’t follow sound strategies or principles, and they don’t have the right mindset.

What is the Average Swing Trading Success Rate? - VectorVest

What is the average swing trading success rate? The answer may surprise you. Here's what you need to know about becoming a successful swing trader...

www.vectorvest.com