Credit deflation and the reflation cycle to come (part 8)

[Mandalorian]

23 minutes ago, Eventually Right said:

Is that actually true?

I ask because the source is a (clearly massively lefty) science teacher

And if it's false, likely soon a bankrupt lefty science teacher.

[Harley]

50 minutes ago, Sasquatch said:

I have thought the same. I'm 57 so already able to access. Mrs S is two years behind me. We will need to clear our mortgage in early 2028 at the end of our fixed rate. I also want to keep maximising isa contributions and we won't be able to do this from earnings in a couple of years time as we wind down the business. The lump sums from the SIPPS will allow this for a little longer. We then have the ability to draw down income from our SIPPs up to or perhaps slightly over the current £12,570 tax threshold and then top up from the isas as and when needed.

I've been going spreadsheet mad the last couple of months trying to chart a path into retirement....and also the best way of winding down the business. 

I've actually found it quite stressful. There's no professional advice available as IFA's are all stuck in their ruts.

This place has been invaluable over the last few years. Many thanks to all who regularly contribute to this thread and to @spunko for hosting the whole shebang.

Yes, IMO we're pretty much on our own here to do a proper holistic job.  We have a plan which I'd rather not go into (which we'll have to see if it works) but there are possible ways.  It does however require us to start as early as reasonable, certainly in advance of any state pension.

[PETR4]

32 minutes ago, Eventually Right said:

Is that actually true?

I ask because the source is a (clearly massively lefty) science teacher

It appears so!

https://www.cityam.com/jcb-billionaire-and-brexit-champion-lord-bamford-retires-from-house-of-lords/

https://en.wikipedia.org/wiki/Anthony_Bamford

 

[Eventually Right]

11 minutes ago, PETR4 said:

It appears so!

https://www.cityam.com/jcb-billionaire-and-brexit-champion-lord-bamford-retires-from-house-of-lords/

https://en.wikipedia.org/wiki/Anthony_Bamford

 

 

Science teacher:

"Lord Bamford, with a debt of £500,000,000 to HMRC, has retired from the House of Lords and absconded. He anticipates his debt, akin to Michelle Mone's £232,000,000 liability, to be nullified."

CityAM:

"Lord Bamford’s resignation comes after Anthony and Mark Bamford were understood to be the subject of a three-year long investigation by HM Revenue and Customs (HMRC), which could result in a bill as high as £500m according to reports."

[spunko]

Part 9 continues here: