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Jacking it all in

Discussion in 'General Chat' started by cravensmum, Oct 21, 2012.


  1. cravensmum

    cravensmum PetForums VIP

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    I gave up my job working with the same company after 27 years 4 months ago.:eek:

    I didn't have any big master plan,I'd just had enough.:mad: I have applied for a couple of part time jobs but I haven't even got to the interview stage.:rolleyes:

    So I have been given an opportunity to do something I have always wanted to do.:thumbup1:

    My dad has just given up caravanning at the age of 82 and has offered me his caravan.Unfortunately I have nowhere to keep it at home,so I'm considering selling my house and going on the road.:eek:

    I have no ties and have always travelled a fair bit and have lived in a lot of places,so I could live anywhere (and everywhere).:)

    I will be able to collect my works pension in 3 years time,which I have paid into for 25 years,so it should be a decent amount.I also have a second smaller pension.

    I was going to be doing this when I retired,but I was going to buy a motorhome which would have taken most of the money from my house,this way I can do it now and live off the money from my house & my collars.:)

    I won't have a lot of money from the sale of my house,maybe £40,000.

    Has anyone done this,thought about doing this and didn't.

    My parents actually did do this,but they were lucky in that they had enough money from the sale of their house to buy a flat,so they always had a home to go back to when they wanted.
     
  2. 912142

    912142 PetForums VIP

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    Why not take some equity out or your house and rent it out? Means you will still have bricks and mortar to go back to or sell when it is needed or when the markets recover.
     
  3. metame

    metame PetForums VIP

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    sounds like an amazing plan
     
  4. Lavenderb

    Lavenderb PetForums VIP

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    If you do it...what have you got to lose?
     
  5. rona

    rona Still missing my boys

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    It's something I'd love to do. I envy your bravery :)

    I think you could get an estimate of what your pension would be. It may help to settle your mind more :)
     
  6. rona

    rona Still missing my boys

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    That's a good idea, either that or just rent it out for a small income.
    As a holiday let it could be worth quite a bit :)
     
  7. Shazach

    Shazach PetForums VIP

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    I too admire your bravery, it takes a lot of guts to change things. Enjoy your freedom.

    Sh x
     
  8. cravensmum

    cravensmum PetForums VIP

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    Good thinking,as I only have a small mortgage anyway,the rent should cover that and a bit extra for me to live off.:D
     
  9. Lara1988

    Lara1988 PetForums Member

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    How exciting. When my kids leave home Im planning of having a year or two just floating round new Zealand.

    They are only 3 and 7, so still have quite abit of time to plan it all out.
     
  10. Bisbow

    Bisbow PetForums VIP

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    I admire your decision and your bravery. I hope you enjoy the enterprise.
    All the very best of luck
     
  11. 912142

    912142 PetForums VIP

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    You would have to speak to a financial advisor about the most cost effective way to do it because if you rent you will either have to pay a letting agent which is normally around 11-15% of the monthly rental or do it yourself and register as a landlord etc - the income would be taxable, however you may be able to plough some back into your pension at source and reduce your tax liability.

    Worth putting your cards on the table at a financial healthcheck.
     
  12. Luz

    Luz PetForums VIP

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    I would go for it! If you get sick of travelling you can always rent a flat. I would probably invest a portion in premium bonds too!
     
  13. Rolosmum

    Rolosmum PetForums VIP

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    If you do you have to come visiting, for me to see Flint and Craven in the flesh!
     
  14. Kinjilabs

    Kinjilabs PetForums VIP

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    Wow how exciting! I would love to do that but OH likes his home comforts.
    Give me a caravan and the open road anyday:D

    Hope it all goes well if you do it, and dont forget you have my address if your passing, oh and then you can drop Craven off;););)
     
  15. cravensmum

    cravensmum PetForums VIP

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    I don't normally get to go too far South,this is my opportunity.:thumbup1:

    As long as I can spend the majority of my time in the Highlands and Lake District.:thumbup:
     
  16. dobermummy

    dobermummy Banned

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    I think its amazing and something i would love to do. Go for it!
     
  17. CaliDog

    CaliDog Greedy Mummy Bear!

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    If you can do it! do it! i couldn't think of nothing better!! :p
     
  18. redroses2106

    redroses2106 PetForums VIP

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    it sounds like a brill idea, I would say go for it, you only live once and it would be horrible to always wonder what if. bet you will have loads of great experiances and maybe find some lovely walks for the dogs :thumbup1:

    renting out your home may seem like a good idea BUT you will then be a landlord and any repairs/problems you would have to deal with from a distance then there is the worry of who would be living in your house? they could wreck it, they could refuse to leave when their times up etc. I would go with the selling rather than renting, but I also think it is a good idea to have a home to come back to, or have some money kept aside for renting a flat or something. sorry that was a bit of a downer to your very exciting thread but just a thought
     
  19. cravensmum

    cravensmum PetForums VIP

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    I will also have half of dad's assets to come,but hopefully not for a few years yet,Which could be enough to but a small property depending on the house prices at the time.
     
  20. Fleur

    Fleur Vassal to Lilly and Ludo

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    What a wonderful idea and how brave of you to follow your dream :thumbup:
    I wish I was as brave :)

    I definately think get some financial advice and look at the pro's and con's of renting V's selling your property.
    Could you afforrd to get your home up to Housing association specs? I believe if you rent to them they gaurentee your rent and even carry out some repairs - but have very strict rules about their requorements for the property, but could be worth looking into - best of luck.

    And if you ever get down to the south coast there'll be a cup of tea waiting .
     
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