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His estate generates $20M annually and is worth over $130M
Trading Tips
- Thread starter Highway Man
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Would you, or would JD, post in home insulation thread that YOU don't need insulation and you find it boring?
If you have enough of the money stuff, no problem. It's not what the thread's about.
Will you be sneering at people who have dome something about having enough, if you end up in some grotty state old people's home surrounded by incontinent dementia patients, ans staff who are run off their feet looking after pee and poo?
If you do have an adequate nest egg, you can leave it in a building society where it'll struggle to keep up with inflation.
So as you use it, it shrinks, at about a grand a week..
Once you've learned, which as has been established isn't trivial, you can make a few % on your money when the opportunity arises, which is most days.
You can attend to it, and get it to grow. Even 1% a week, makes 67% a year.
You CAN get to a point where it's growing faster than you're using it up.
And yes, heaven forbid, some enjoy it, or see it as a pastime because they can't do a lot. And that know that whatever support system the gov provides, or doesn't, they can be more comfy.
If you get to a stage in your life where you need to be looked after, for maybe 10 years, you're looking at needing £500k+.
Your state pension will be of the order of 100k in that time. If there are 2 of you and it turns out to be 20 years, that's ~£2m short. That's without any inflation.
Otoh, £20k, at 1% a week, gets to £1m in under 8 years.
Most people wouldn't have made sufficient provision.
I assume you have. If not, who do you expect to pay for you?
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One thing's for sure, if you ain't got enough , you ain't gonna be happy.
The point being that he did (claimed to have done) what he did not for the money though.
The money was a consequence.
That's your opinion, and is based on your definition of "enough".
I'd be happy with half that.
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you've misunderstood.
This is the minimum cost of a private care home.
I don't know anyone who has elderly parents in care homes, paying this little.
of course you can manipulate your self employed income so that you receive tax payer funded benefits if thats what you prefer.
Nope.
People that worship money can NEVER have enough, poor souls.
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The missus explained to me that the credits (which were impossible to refuse) were based upon my books a year hence - meaning we were paid it, then had to get the accountant to process the accounts and send the figure to them, revise the payment and send it back to them after they assessed our income and said we were overpaid.
Bonkers. It really was not worth the hassle.
I spend very little time on my investments
some people play with trading as a hobby.
Both these statements are true.
Which is completely different from someone's lust for ever-increasing numbers on an account statement.
And, accrual of money doesn't necessarily correlate with wanting to pay it out.
The opposite can be and is demonstrably the case.
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Who on this thread is doing anything other than discussing how to manage and invest their money according to their needs?
Justin, for one.
