Off Topic The Burly Arms

Yeah I can do consultancy stuff and earn the same in 6 months that I do in 12 in employment. 6 months off work does me no good though so I’d end up working during the other six as well.

It’s never bothered me previously but my daughter is coming on so much lately and it’s dragging on me not seeing it all.

 

Sounds like a no brainer that mate, not sure why the time off work doesn't do you any good though ? Maybe you need to take up a hobby like moss collecting or something ? And yeah, the little ones grow so quickly. You don't get this time back again mate, and for me that was the no1 priority being there for my daughter.

 

Work life balance is a tough one, and one I struggled with when mine were young and I was doing my utmost to climb the ladder. I think it’s got worse since, with email and the expectation in many organisations that you’ll pick it up out of hours.

Being self employed has it benefits but the lack of guaranteed income is a leap, especially if the economy take a dive.

I’ve always lived by the mantra of ‘what’s the worst that can happen’ and I’ll decide if I can handle the worst case scenario. If the answer’s yes, then I’ve always gone for it tbh, as if you can stare at what failure looks like and you can stomach it, then you can’t really lose........

 

The last 4-5 yrs of my career I went self employed. Set up a little boutique outfit along with 3 other guys I knew well from the market. We specialized in distressed and illiquid debt - bonds, defaulted loans, etc.

Got to say we made very good money and had a right laugh doing it.

Just got tired of it all in the end.

 

No idea what that means, but it sounds boring and dodgy.

 

Generally it does me no good two fold, one because it’s not good practise to be out of work 50% of the time but more because my mind goes into overdrive and I will end up with too much thinking time and that’s always bad for me.

 

I think I’m looking at just winding stuff in, I am struggling between quality time with my family and safeguarding the future for my kids by earning as much as possible. I am thinking the Piskie option looks more attractive by the day, just with less rocks and more meat.

 

Known you for years mate, you'll be just fine whichever option you choose.

 

If you start thinking too much, just start humming the tune to The Macarena and that should make your brain switch off

 

Distressed debt is debt that’s in danger of defaulting. It could be trading at 50% or less of its face value.

Defaulted debt is just that. Debt that has defaulted on interest payments or the principal repayment.

 

Sorry to ask what might seem an obvious question. But do you buy the debt and knock down price and then try to recover as much of it as you can from the loanee ?

 

so you went in to help but charged them massive interest thus putting them into more debt?

**** knows,

anyway wrong fred for my ignorance.

 

Possibly, if that’s possible. Or maybe try to sell it back to them deeply discounted.

More likely we would trade it in the open market. Open market such as there is for that type of debt.

 

think piskie will appreciate and get it.

 

Good tune that. And yes totally get it, all that material nonsense is just that. So many people spend their lives chasing stuff, or the money to get stuff. As long as you've got the basics, what else do you really need ?

My old man used to say to me, what's the point in having loads of money ? you can't take it with you.

 

Which pretty much sums me up, i had money, so went and spunked it all (literally), just a random 5 year holiday in your mid 30s

 

Money for me just means freedom. Freedom to do what I want, when I want, and not have to worry. Any **** who wants me to do something I don’t want to do can **** right off.

 

When I used to live and work in London, me and my girlfriend at the time would have two full time London wages coming in, no kids and no other commitments. Okay rent and travel was expensive, but we'd have **** all to show for it, because we just went out all the time. What shall we cook for dinner ? **** it let's go out. What shall we do this weekend ? Let's go to that expensive restaurant and then go onto that club. Need a new pair of jeans ? Okay £90 done. Need a new coat ? I'll just go and get that £200 one I saw on my way home from work.

You live to your means. If you've got it, you spend it. If you haven't you don't.

 

Easily done mate.

 

I have little respect for money, very much an easy come easy go mindset when it comes to funds, no kids to spunk it on or earn it for, so I can buy nice things if I want and don't have to feel guilty after.

Money isn't the be all and end all of life but its nice to have it as someone said above its basically freedom in the modern world.

But saying all that it's not about being so skint you can't put food in the fridge, get up and go get that doe, there's a enough of it about if youve got some get up and go.

Broke peeps are plain lazy in my experience.