Whats your exit strategy?

[Mike Hill]

21 minutes ago, forestboy1978 said:

I plan on upgrading my existence to a hot part of the world where my sterling has 10x the value. If my wife isn't still sucking my balls by then, I'll upgrade her too...

Zimbabwe it is then!

 

Or Chad,Liberia,DRC,Malawi,Nigeria etc.

 

[Rob D]

1 hour ago, donnk said:

i think you will be surprised, those domains less than £500 each. 

 

Obviously the associated business excluded.

I'm hoping to be very pleasantly surprised when the time comes

[breffni]

5 hours ago, Big J said:

The intention is to build the forestry harvesting and management company over the next 20 years or so and then sell up, either as a going concern or simply component parts (machines).

 

In a few years we're intending to start a sustainable building company, focusing on the provision of low cost, high quality, carbon negative housing built empathetically in conjunction with support from local communities. They would be price controlled, mainly for key workers (emergency services, care workers, teachers etc) and people working in the locality as part of the rural economy. We'd tee this into the forestry business by restarting a sawmill to provide the raw materials for the houses, with the aim to have 90% (or more) of the structure of the house to come from a 50-100 mile radius. Modular, prefabricated, locally grown houses with an emphasis on healthy internal environments and sensible and considered development planning (so folk don't feel like sardines in a can, jammed into little rabbit hutches as is the case with so many new developments).

 

The hope is 15-20 years of that would result in us doing larger and larger developments, making a meaningful contribution to the local housing stock and eventually provide us with a decent pension to retire on. 

 

Life would be a damn sight easier if I just stuck to doing one thing, but I'm only happy plotting and master planning for the future! ?

Put me down for one of those houses!!

[Mick Dempsey]

57 minutes ago, forestboy1978 said:

I plan on upgrading my existence to a hot part of the world where my sterling has 10x the value. If my wife isn't still sucking my balls by then, I'll upgrade her too...

Charming! I thought she was the one with the money?

[forestboy1978]

3 minutes ago, Mick Dempsey said:

Charming! I thought she was the one with the money?

Tsk... She is, and I also love her so i was obv talking out of my ass. 

[Joe Newton]

14 minutes ago, Mick Dempsey said:

Charming! I thought she was the one with the money?

I seem to remember he was once so fiercely protective about comments like that! ?

[spudulike]

2 hours ago, difflock said:

Yes, BUT, You then get screwed over, tax wise, and for some benefits wise, when drawing down your pension!

Two main simple cash to investment options, pay in to a pension and get the tax relief or pay in to an equity ISA with taxed money and don't pay any tax when you pull the money out.

ISAs can be cashed at any time, Pensions - you can drawdown 25% of your pension at 55yrs but it will impact on your final pension income. Most would take a drawdown to retire early to bridge between retirement and receiving the Government pension.

It all just depends on how flexible you want your retirement to be and what works with your mind-set.

The very simple rule is that the earlier you start, the earlier you can finish. Planning a pension at 40-45 years is 20 years too late.....unless you are a budding drug smuggler!

[forestboy1978]

8 minutes ago, Joe Newton said:

I seem to remember he was once so fiercely protective about comments like that! ?

From others prick! And your point is what?

[Rough Hewn]

At some point in the future...
I'll sell everything.
Chainsaws, mills,vehicles the lot.
Buy a small forest,
Live with the trees, plants and animals.
Might keep an axe or two.
[emoji106]

[Woodworks]

I don't have an exit strategy as such just work until I drop is the plan health permitting. We live cheap so don't need to earn a lot to scrape by. Retiring just sounds boring and I have seen plenty of folks just lose the will when they don't have the motivation of work.