patently

Get ahead in life

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Just met a new client - after a chat over a coffee i discovered he was worth around £2 million, and he shared the amazing story of how he got so rich.

 

Basically when he left school he had little or no formal qualifications but he was good with his hands and he knew how to sell. He knew he was never going to make it in an office job so it was nose to the grindstone time.

 

He told me how he left school at 15 and bought an old pedal bike cheap and spent a few days fixing it up, he then sold it for profit. He then used the money to buy another and so on. He did this a lot over the next 35 years, buying, repairing, selling, buying again.

He eventually moved onto motorbikes in the 90's and then onto cars in the last eight or nine years even during the real bad times he plugged away.

 

He worked long hours as you do in the motor trade, sometimes not seeing his wife and kids for days in pursuit of his goal.

 

Then his uncle died and left him £2 million.

 

A real heartwarming story.

 

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Ha, that's the luck of the draw.

One of Mrs T's 'friends' has just inherited three quarters of a million, if ever a less deserving person came in to money it's her.

Mrs T takes her daughter to school most days, simply because she won't get out of bed and do it herself, if Mrs T is ill, which is quite often (Mrs T isn't supposed to work, she should be claiming disability support, PIP or whatever it's called) then her daughter either doesn't go to school or arrives around lunch time, her attendance was something like 48% last year.

Social services get involved but she simply plays her disability card, she lives on housing/disability benefit for an illness we've never seen any evidence of.

Yet she lives in a house her parents own, but in their business name, so she can still claim the benefits that she wouldn't otherwise be able to.

The money was apparently left by a family friend.

I should be bitter, but thems the rubs.

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On a tangent, but I think there is a loose link to this....

 

One of EldestMissMe's friends, aged 23 or 24 (not sure which), inherited a sizeable amount of money from her grandmother earlier this year.

 

At her age you might be forgiven for thinking she'd go on a bender with it.  However, she already a very good salary (considerably more than the average person of twice her age would) and has got her head screwed on the right way.

 

She went out and bought a nice 3 bed semi-detached house, a new build.

 

Then she furnished it very nicely.

 

Then she bought a new car, but nothing too flash.  A new Nissan Juke.  She already had a Nissan Micra, new, so it wasn't as if she splashed out on a huge upgrade anyway - but clearly a nice car.

 

I'm told that left her half of the money she'd inherited.  She invested it in a combination of shares, trust funds and put a small amount into currency dealings through a firm of financial advisers.

 

A few weeks ago our eldest came in and remarked at how delighted her friend was.  She'd received a quarterly statement about the currency dealings - the money had been tripled in the quarter (I'd imagine that the other investments won't be known about for a year).

 

Needless to say, she's very happy indeed and it does show that not all youngsters would fritter it away.  She's pretty much financially secure for the rest of her life if she doesn't change her approach to financial management.  She'll not be able to stop work, but she'll never have debt.  It is the platform to support her in doing what she wants to do on whatever salary she earns and what return she gets from her investments.

Edited by NewNiceMrMe
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Nice story NNMM. As long as her currency dealing has nothing to do with Richard Rufus. (Ex Crystal Palace defender) :P

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In all seriousness it's nice story to hear.

Interestingly one of our former members is now championing financial education in his new job. An area sadly neglected in the past.

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I was born with nothing & still have most of it left.

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In all seriousness it's nice story to hear.

Interestingly one of our former members is now championing financial education in his new job. An area sadly neglected in the past.

 

A former TSN member?

 

I think the lack of real-life education in schools has been a failing of the UK for decades.  That said, there is a parental responsibility too.

 

I know the curriculum has been changing to include more content about banks, insurance, mortgages, etc., but you've got to ask yourself why this type of content wasn't being thought of as essential to economic development a very long time ago.

 

If your economic future depends on children, why not educate them so that they don't grow up without a clue about profit, loss, what to do and what not to do, etc?

It is neglect.

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So lets just get this straight.

Is she really fit?

 

Yes.  Realllllllllly fit.

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On a scale of Liz Hurley.......?

 

Oh no.  On that scale she's pig ugly.

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