Pickman's model
Starry Wisdom
He's looking forward to the mystery of edwin droodWhat will be the last book ?
He's looking forward to the mystery of edwin droodWhat will be the last book ?
On the renters time bomb - home ownership rate has actually gone up in the last 10 years.
Re: inheritance, home ownership, retirement, and deceptive men....
My parents divorced when I was teenager. My mum got the house and discovered what she thought was a small mortgage left, was actually a re-mortgage my dad had got without her permission (we think he forged her signature) leaving her fucked financially so she spent 20 years working in a few jobs (factory, mail order packer, pub kitchen) far beyond her plans to pay that off. She eventually did retire but much later and had to downsize into a small house to make it OK.
My dad never got another house himself, but got together with someone who owned her own small house outright so he lived there. Anyway, they decided to retire to Spain and got a few equity release loans (his idea really) in the '90s and early '00s on their house to buy over there (think they totalled about £70,000). Very quickly (a few years) they got bored of Spain and moved back before they managed to sell their house here - luckily as it turns out otherwise they'd have been fucked.
He died 8 years ago. When he died we found out he owed loads of money all over the place. Gambling issues we think.
She currently owes the company (Aviva) about £230,000 or so (compound interest innit) so Aviva get the whole house outright when she dies. When I last checked the interest was accumulating about £100 a week! The house has actually gone up in value from about £90,000 in the '90s to £250,000 now, but they'll get it all.
He was a bit of a lying fucker!
My mum did all the financials when dad was alive , he never used a credit card or debit card in his life . He was cash all the way (others had to use the cashpoint for him) . Mum applied for & got various mortgages (in joint names) . When they bought the last house he lived in, she sorted everything out without him knowing a thing (probably said Tony , you need to sign this) and told him they were moving about 3 days before the sale completed. He would have been a nightmare with any more notice than that. When he died, he left about £5k in a wallet in cash under the mattress, which paid for the funeral.Re: inheritance, home ownership, retirement, and deceptive men....
My parents divorced when I was teenager. My mum got the house and discovered what she thought was a small mortgage left, was actually a significantly large re-mortgage my dad had got without her permission (we think he forged her signature) leaving her fucked financially so she spent 20 years working in a few jobs (factory, mail order packer, pub kitchen) far beyond her plans to pay that off. She eventually did retire but much later and had to downsize into a small house to make it OK.
My dad never got another house himself, but got together with someone who owned her own small house outright so he lived there. Anyway, they decided to retire to Spain and got a few equity release loans (his idea really) in the '90s and early '00s on their house to buy in Spain (think they totalled about £70,000). Very quickly (a few years) they got bored of Spain and moved back before they managed to sell their house here - luckily as it turns out otherwise they'd have been fucked and could have easily ended up homeless/insecurely housed as at that point they were both in their 60s with no assets or home. On top of that they lost loads on the house in Spain when it eventually did sell.
He died 8 years ago. When he died we found out he owed loads of money all over the place. Gambling issues we think.
She currently owes the company (Aviva) about £230,000 or so (compound interest innit) so Aviva get the whole house outright when she dies. When I last checked the interest was accumulating about £100 a week! The house has actually gone up in value from about £90,000 in the '90s to £250,000 now, but they'll get it all.
He was a bit of a lying fucker! And not very good with money. Obviously.
My ex was terrible with money. A legacy of always previously being able to earn themselves out of debt I thinkI think who your partner is can be pretty make or break. Not in terms of marry rich but making sure you dodge someone who's dysfunctional with money.
I think who your partner is can be pretty make or break. Not in terms of marry rich but making sure you dodge someone who's dysfunctional with money.
Absolutely. I earn a good salary now- 50k. And my brother and his wife always go on about being poor and not going out for meals etc. I had to point out that their joint income was actually MORE than mine and they were just being tight fuckersThere's also the benefit of splitting costs of repairs, rent or mortgage etc. plus of course having a better safety net if things go wrong. I do think single people (either not living with anyone else or not in relationship etc.) have it much harder financially on average/balance or whatever the right term is.
If we're talking inheritance and deceptive men, then I'll tell a story about something that's just happened to me.Re: inheritance, home ownership, retirement, and deceptive men....
My parents divorced when I was teenager. My mum got the house and discovered what she thought was a small mortgage left, was actually a significantly large re-mortgage my dad had got without her permission (we think he forged her signature) leaving her fucked financially so she spent 20 years working in a few jobs (factory, mail order packer, pub kitchen) far beyond her plans to pay that off. She eventually did retire but much later and had to downsize into a small house to make it OK.
My dad never got another house himself, but got together with someone who owned her own small house outright so he lived there. Anyway, they decided to retire to Spain and got a few equity release loans (his idea really) in the '90s and early '00s on their house to buy in Spain (think they totalled about £70,000). Very quickly (a few years) they got bored of Spain and moved back before they managed to sell their house here - luckily as it turns out otherwise they'd have been fucked and could have easily ended up homeless/insecurely housed as at that point they were both in their 60s with no assets or home. On top of that they lost loads on the house in Spain when it eventually did sell.
He died 8 years ago. When he died we found out he owed loads of money all over the place. Gambling issues we think.
She currently owes the company (Aviva) about £230,000 or so (compound interest innit) so Aviva get the whole house outright when she dies. When I last checked the interest was accumulating about £100 a week! The house has actually gone up in value from about £90,000 in the '90s to £250,000 now, but they'll get it all.
He was a bit of a lying fucker! And not very good with money. Obviously.
Mrshakes totally landed on his feet when he met me. He went from being a 43 year old renter - paying £1.5k a month in rent and a terrible credit record - to having a house in Brixton fully paid off by the time he was 52. He was terrible with money despite having had multiple handouts from his parents, including a £50k deposit which had been sitting in the bank for 3 years.. he did contribute a lot financially when working but I do all the money and finance admin.I think who your partner is can be pretty make or break. Not in terms of marry rich but making sure you dodge someone who's dysfunctional with money.
Shit. This sounds dire mate. Don’t you qualify for state benefits if your still working age before you get to retirement age? Living off one tiny pension does not sound do-able (although maybe your wife works come to think about it).I have a feeling I may have accidentally “retired” already. I’m signed of sick with chronic fatigue and chronic pain. And no sign of improvement or prognosis. (I’m constantly pushing for tests and investigations - which is exhausting in itself - but seem never to get any further forward. The GP basically seems to think I just have to accept it).
So at some point my employer will get fed up and push me out. And that’ll be it. This has happened before with my mental illhealth. I was medically retired on account of depression once before, for which I still get a tiny pension. But I can’t see any prospect of recovery this time. I certainly can’t hold down a job feeling as I do. So that’s probably my working days over now.
I have no proper pension, aside from the state pension and the tiny amount coming from the scheme of the former employer who invalided me out, but we do have our mortgage paid off, and we “downsized” a little when we bought our current flat, to pay off some debt. So we’re housed. But things like the cost of heating and food inflation do worry me.
But it could be worse. I have lots to be grateful for.
I have insane envy of anyone who gets given or inherits money. I’ll have neither. Why can’t someone give me 50k ffsMrshakes totally landed on his feet when he met me. He went from being a 43 year old renter - paying £1.5k a month in rent and a terrible credit record - to having a house in Brixton fully paid off by the time he was 52. He was terrible with money despite having had multiple handouts from his parents, including a £50k deposit which had been sitting in the bank for 3 years.. he did contribute a lot financially when working but I do all the money and finance admin.
He grew up upper middle class whilst my upbringing was penniless so I’ve always craved housing and financial security
Yes, Mrs LR works part time. And I will sort benefits out. Sort of in an in-between stage at the moment, complicated by my zero hours contract, but we’ve got people advising us; a good friend is on top of the benefits situation.Shit. This sounds dire mate. Don’t you qualify for state benefits if your still working age before you get to retirement age? Living off one tiny pension does not sound do-able (although maybe your wife works come to think about it).
Ok good. Just sounds like you’re stuck between a rock and a hard place rn (neither well enough to work or sick enough to be fired kinda thing). Hope it works out xYes, Mrs LR works part time. And I will sort benefits out. Sort of in an in-between stage at the moment, complicated by my zero hours contract, but we’ve got people advising us; a good friend is on top of the benefits situation.
I know.. I got $1000 when my grandmother died in 2009. Her house sold for $530k and was divided between her 5 kids. Wonder if my mum actually did anything sensible with her share. Not that she’s likely to leave me anything as I’ve not spoken to her for 30 years.I have insane envy of anyone who gets given or inherits money. I’ll have neither. Why can’t someone give me 50k ffs
I’ve got a mate who- no word of a lie- inherited over 200k when his parents died. After inheritance tax and fees etc. I mean you’d be sorted wouldn’t you- there ya go kids there’s a house for you bought outright.
This is the kind of leg up I want my kids to have.
Also your Dad sounds like a bit of a cunt if you don’t mind me saying so.
I have insane envy of anyone who gets given or inherits money.
How did she steal the house? And a second one?Never had a single penny of inheritance, and would be happy for 100% tax on it.
My nan left her house to us 5 grandkids, however my aunt stole it, a small 2 bedroom in Hounslow, today worth around £450k. She also stole my great aunts' house, which if was up for sale today would be well north of a million quid.
My mum fell out with her dad, he brother scooped the lot, her dad was fucking minted, left over £1.5m in the late 80's. My uncle and his wife regularly moan that their dining room can only seat 12, ffs.
Would be nice to get free cash, but would never hold out for it and endless tales seem to suggest that it often gets wasted anyway...
How did she steal the house? And a second one?
What a charmer.. how people can behave like that I’ll never understandNo written wills, and all three died in quick succession, beloved aunt then claimed that they all wanted her to have the money until she died when it would then be split between the 5 grandkids.
I am 50 and the youngest of the 5, aunt is still alive, one of the grandkids died last year.
Thieving aunt got a gong for her services to charity an'all, an MBE, for forming a charity that you would have heard of, she did it to cream off a lifestyle for herself, she's that kind of woman.
What a charmer.. how people can behave like that I’ll never understand
So you should be alright then...Turned 50 last summer, BB2 will be 10 next month, so 8 more school years for her for which I need to work, putting money aside for her to spend at uni should she choose to go, £5k a year will make £40k for her which is what BB1 got. Have paid off the mortgage, house currently worth ~£700k, so in 8 years will probably be more than that and we won't need a 4/5 bedroom place, so downsizing would free up some money. Only started paying in to a pension 8 years ago, £3200 a month between us, stopped when the plague came to town, need to re-start that now, this thread has given us the push to get the shiny-suited conman back round to get it going again. Possibility of some inheritances, my mum and dad are both still going and both own their houses outright, as does Frau Bahn's mum. Hopefully not for many, many years, though my sister is kind of hoping it will be sooner
But of course...
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