Early Retirement

[kateE]

Would they not charge interest but you still have to pay about 5 percent of the balance each month so that's pound 750 pounds on 15000 you'll need to check small print. Only way round it if you said it was a career development loan that way you don't have to pay any money for two years . Best way stick the money in high interest account.

 

[MseB]

For a CDL you need to enrol on a course and they'll only give you money to cover certain course related expenses and you have to start paying it back immediately following the course at a not so competitive rate of interest. Plus, they wont give you a loan at all if you have more than £16K in savings/projected earnings. It's not free money by any stretch.

 

[AussieGirl]

It's commonly 3% and sometimes 0%

There are CDs in the USA that you keep locked in for a term, these pay better than high interest savings due to less liquidity- the skill to using these is to craft a ladder of terminations where you see something like a monthly income from a series of these as they come to fruition.

 

[Dane_62]

You don't have to look for banks. Banks will look for you.

You need to have good credit score (such as 820) to receive blank checks in your mail. Most banks will beg you to use their money for 1% balance transfer and 0% interest for a year. Their hope is if you can't make your payment, they can charge you 21% interest.

 

[NoraSimone42]

820 credit score is not good, it's great and very rare. Few people have any where near a 820 credit score. If you do, consider yourself in the financial elite.

 

[AbbyC]

If this were true, celebrities would live forever.

 

[endoscented]

I guess they calculate ratings very differently in the US and the UK, then.

 

[AlexisInfectious®]

I kind of plan on working until I'm dead. But I love my job and I can't stop thinking about the field, so it works out.

 

[CheeseQueenForever]

That is cool. Maybe I should have phrased the thread title differently. As I mentioned myself I plan to keep working the same job when retired. The essence being that I have financial independence not that I would hang my boots up and play crown bowls.

The point is more creating sufficient passive income sources, building wealth and controlling expenditure in order to live in a financially positive manner, so much so that you could step away from needing to work instantly.

I have too many things I would like to achieve in my job for me to actually want to stop working it, that are not related to money.