Are you worth a £1million?

[MoneyBags]

DH & I used to be quite good at keeping an eye on our financial affairs until the kids (8 & 5) came along. Since then, we've bumbled on through, just about remembering to stick lumps in ISAs and PEPS, paid off bits of mortgage etc, but not done any active management or review.

Anyway, a number of 'life decisions' prompted us to go to an IFA for a total review. By way of preparation we had to fill in load of summaries of investments/ house prices/ mortgage etc.

Well.... we sat down with him today and discovered that if we add up the net equity in our house (value minus mortgage) and all our savings and investments.... we are worth £1 million

I am truly gobsmacked - it has sort of crept up on us.
The bizarre thing is that we don't feel rich or anything - I use coupons and codes for shopping and regularly buy and sell on eBay. And yet I am a millionaire

I've never been in a position to be able to save.

And at my age, it's not looking like I ever will be.

Well we don't live in London so our house is worth a quarter of that, despite being an OK house in an OK village. And we have mortgage on about a third of it. And I have to share it with DH anyway.

why wouldnt moneybags want to post this on a a forum? She's pleased with herself and rightly so.

Now, any tips?

Marry an investment banker. Become a SAHM and have all assets put into your name for tax efficiency.

ssd - the name was spur of the moment 'tongue in cheek' - sorry!

I'm not expecting anything by posting - although no doubt will get abuse - but why shouldn't I post?
Like I said, I'm surprised, shocked, happy (of course) and decided to share and discuss it with my friends? Any harm in that?

Yes, live within your means. Even if that means you have to sleep in a wheelie bin.

Otherwise, you're just being extravagant and you deserve your poverty.

Yeah, I am kind of wondering, what is the point of posting this. I mean, it's great and everything but, like, what do you get out of posting it on MN?

What if someone came on and said 'hey guys, we earn £200K a year - we were always poor and it just crept up on us etc'. It's a bit, sort of, distasteful.

CD is right though - if you are counting equity in houses there'll be plenty of people in the same boat.

you may not have meant it

but most will consider it showing off

But you aren't really sharing it with your friends are you because nobody knows who you are - so what's the point? We can all feel happy for a random person who just logged on tonight? Are we supposed to give a shit?

Ah sure, im sure if any of us added up the value of our house, life insurance etc we'd be worth a fortune... even if technically skint... well done though!!

God, you miserable lot.

I'd be bloody shocked (and happy) if I saw £1 million next to my name liquid or otherwise.

If people can post what they're having for sodding tea why not this?

sheesh!

I suppose it seems an odd thing to share because you would never tell people you knew in real life, in case it made them feel you were bragging.

But I can't say I would share many of the things people put on here, so I suppose it is just one of those internet things.

I'm happy for you. Well done.

NadineBaggot £1m.

There! Now you've seen it.

Be chuffed!

Jampot - thanks...

Tips? Er....

• Use all the tax free vehicles (PEPs/ ISAs etc)
• Stick to a budget less than your income if you can
• Avoid debt (especially credit card debt)
• Get tips from good websites like MoneySaving Expert and Motley Fool
• Get made redundant 2 or 3 times , but then bank the payout and get another job immediately
• buy a house in an up & coming area

I guess that's the list of what we've done...

rofl expat!

errmmm

because it's generally considered vulgar

i'd discuss what i'd had for tea with friends (if i were really that dull) but wouldn't brag about how much i'm worth

Have you been reading "rich dad, poor dad"?

I tell a lie. I'm worth £1!

I started a thread about it, because I needed to share.

NadineBaggott - are you honestly trying to tell me that you aren't worth £1m, at least in the sense that MoneyBags is talking about?! I don't believe that for one second! Didn't you discover pentapeptides?! And those TV ads must have raked in a few quid!

its no worse than announcing your pregnant when there's loads of TTCs on this site IMO

Yes, but don't forget my outlay

surgery ain't cheap these days ....

valid point there jampot, kick ass!

Well, if nothing else, moneybags, you have raised a smile on an otherwise dull evening

Will you be helping your children financially?

Can I be your child?

Good for you, and I mean it Nice feeling to feel so secure, especially if you hadn't really realised how secure you were financially.

Nearly everything on MN can be classed as bragging these days, don't worry about it!