FAQ

Can I do this with kids?

Certainly. Kids don’t have to cost a lot, just like other elements of your life they can be expensive or cheap depending on how you tackle things.

If you are looking at your finances right now and thinking that you don’t have much left over each month to invest, remember that eventually kids grow up and become independent, so some of your current costs may diminish and leave more for investing.

 

Can I do this without a high salary?

 

Yes, it’s just a bit slower. Sometimes people on lower salaries have a bit of an advantage, in that they haven’t slipped into higher spending habits, so that makes their target smaller. We’ll also look at mindset and frugality, which could boost your progress.

 

How will this survive a stock market crash?

 

We’ll look at stock market behaviour and at how much you can safely expect to draw down.

 

What about Inflation?

 

We invest in profitable companies, which are one of the most inflation-proof investments. Companies with strong brands are able to raise their prices when inflation hits their costs, maintaining their profitability. As owners, we ride this tide, meaning inflation shouldn’t hurt us.

 

How do you get income in retirement?

 

We’ll look at how you pull money from your pensions and from an ISA bridge fund. It’s pretty easy.

 

How much do I need to retire?

 

That depends on your expenses. We’ll look at working out how much is enough, and learning to be flexible.

How do I get out of debt?

I’m not an expert on debt so I suggest a good place to start could be Dave Ramsey’s Baby Steps.

 

Can you assess my situation?

 

You’re welcome to write in to volunteer to be a Reader Case Study, on an anonymised basis.

Email theministryoffi@gmail.com with some details of your situation & goals, earnings & spending, assets & debts. Remember, I’m not a Financial Adviser or Certified Financial Planner, just an amateur investor who often has opinions!

 

How Do I Get Started With Investing?

 

I’d begin by reading the FIRE Series of articles and in particular Platforms and Funds tells you the nuts and bolts.