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  • Stickies & Evergreen

    Portfolio - magic number to give up day job?

    But I think you agree it takes a lot of money to build up the properties

    and of course If a person is working and they are borrowing in there own name at high levels S24 kicks in

    and they would need a good income to borrow on there own home

    so if they were to stay in work they may have to invest via a Company

    Its a complicate game today not quite as straightforward as it once was



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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Not straight forward as it was no,  but not exactly complicated  either

    All still eminently feasible in simple logical steps

    People understand the maths principle no problem but sometime lack the get up and go

    Structure it to suit your own individual circumstances

    There are 10`s of 1000`s of people out there with decent equity and decent income

    There are 10`s of 1000 of people out there also with unencumbered property

    Just need a prod and a bit of counselling to get them started 


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    Jonathan Clarke. http://www.buytoletmk.com

    Wanted to reply tp JC directly but I can't.

    I was living off £1500 a month in 2014 with not problems and not needing to tap my capital (which I had done at lower levels). I upped it to £1600 in my earlier response to allow for inflation. I didn't do a budget, I just checked that my account wasn't going negative at the ened of the month. I use a separate personnal account from my business ones. It included £300 monthly savings to my emergency fund, which I used some of for a car repair. I pay £40pa ground rent for my home but have no mortgage on it. It wasn't difficult

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    I think someone can live on £1500 a month in the NE without much problem

    Lots of folk do who I know

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Yes millions of folk can and millions of folk cant

    If you have no mortgage, no car no holidays dont eat out or buy clothes or go to the Zoo  then

    I agree 1500 pcm is a breeze

    If you have though a 250K mortgage 1000 Car 200  Holiday 200 eating out 100 its suddenly gone

    You have bought no clothes and cant go to the Zoo and if your boiler breaks you are done for

    There are 58 million or so people live outside London

    For millions yes 1500 pcm spend  will be a total breeze

    But for millions it would be a massive struggle

    In my view the original catch all statement by the poster saying that it was easy for anyone outside London to live on 1500 pcm was a silly statement  in the extreme .

    For millions yes of course  it is easy but for millions more its simply not  possible

    You live in the NE but got a private plane to run DL so they don`t come cheap!

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    Jonathan Clarke. http://www.buytoletmk.com


    I always said I’d get to 10 and quit work.

    I now have 11 and realise if I want to live the live I love then 11 is nowhere near enough haha.

    The new number is 25....
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    I've done it with  around 8 
    2 unlicensed HMO s
    1 serviced accommodation 
    And 5 single let's 
    I have cut corners here and there and  will continue to do so . All my tenants are really happy  . The government would love a bigger slice but I declared war on the establishment some time ago . This significantly sped up my being financially free.!

    Life on the dark side 

    The rogue 

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    The government would love a bigger slice but I declared war on the establishment some time ago

    Any tips!!!??? ?
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    The 2 core questions only you can answer are

    1 - When do you want to retire?

    2 - How much net income do you want to retire on?

    Decide on the above and work backwards as to how that net income can be derived - ie from all sources.


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    @ PJ

    Yes  so you had no mortgage  but someone with maybe an £800 pcm mortgage, car finance, travelling expenses,  etc etc   not so easy

    It was the rather catch all assumption that anyone outside London could easily live on £1500 pcm which clearly is not the case as there are so many variables of people in different financial situations

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    Jonathan Clarke. http://www.buytoletmk.com