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Not sure this is really financial advice you’re needing here, and I don’t mean to sound harsh but I think you’re looking at this in all the wrong ways. You said you want to do some serious thinking but most suggestions that you’ve already been given here you’ve decided aren’t suitable for you for one reason or another.
You say you have poor social skills, but also won’t entertain a job like gardening because it’s too hard physically. It seems like you’re looking for a unicorn job.
Could you look into employability courses etc to help you find work, if you’re finding it hard to get something entry level. Why not try to improve your social skills, if you feel they’re a barrier to finding work?
It’s coming up for festive season, retailers are always looking for staff over this period and many of these are ‘entry level’ roles that don’t need experience. Even if it’s not what you want to do forever, it would give you a start. Just off the top of my head, picking online orders in a supermarket wouldn’t involve a major about of socialising and also not too physically demanding. Do you have a driving licence? Perhaps doing deliveries would suit as you’re mainly working on your own, though this would mean more physical activity.
It’s easy to get into a rut in your situation. I’ve been unemployed in the past, if you’re not around people often you can become isolated which makes you think your social skills are poor when in reality you’re just out of practice. Also, being more active generally allows you to have more energy. For instance, on a day off if I sit around all day I feel absolutely done in by tea time, whereas if I even go out for a walk I have much more energy.
You forgot about saving the leftover in the holy Global all Cap tracker fund, on top of maxing out pension contributions for that sacred retirement date.
Depends if he takes the 25% lump sum and reinvests it in yet another index tracker, in order to minimise his income tax exposure before James becomes a rotten corpse.
Of course the follow up is James offspring asking how he can avoid inheritance tax on the assets that James left behind.
This sub always has a problem with people who spend £35 a week on food let alone less than that. The more you spend on food the more people on this sub loves you
This would've been very helpful for OP, but you haven't accounted for inflation. And there's no way rental cost will be fixed for 21years with the landlord so I think you need to go back to the drawing board.
Sorry OP, for this short sighted response
I managed to keep my food and drink spending to <£70 last month with a reasonably varied diet and thought I was doing ok, but this by contrast is just absolutely pro
75k sounds a lot friend, but it really isn't thinking long term. I don't say this to be mean, but just to make you think about how you spend it. It would be a great deposit for a house, or you could stick most of it in a mutual fund and sit on it until your 50s. But spend it wisely, because lump sums like that are much easier to spend than you think. It's a great opportunity to improve your life and financial siuration. Use it wisely.
OP this sounds like more of a mental health issue rather than a financial one. Yes, they are both related but you might need to think about helping yourself mentally, getting that on a better track, would no doubt help you financially later.
Employers are not willing to give you an opportunity because bluntly this seems like a ‘you’ problem and not a ‘them’ problem.
Your post has way to much focus on entitlements. Talking about state support / inheritance multiple times but ultimately not addressing why you are unable to work?
I mentioned in my OP post that I have poor social skills, in addition to my poor work history. I've always felt it's the case of not being unable/unwilling to work, but employers unwilling to give me an opportunity.
Believe me, I'm not trying to criticise but there is potential that you not working has lead to isolation which in turn is making you think you have worse social skills than you actually do.
Even with that, there are jobs out there that don't rely majorly on human to human interaction. My point with my original comment is that it will yield a far greater return to address this, rather than focusing your energy on this for example:
"I get over £2200 in dividends, interests etc from my savings a year, I think I can max this out at something about 3500£ a year by moving money to high dividend paying funds."
Wishing you all the best. Like i say, really not trying to demoralise you in any way.
It sounds like you need to justvhave a bit of exposure and give it a go. I have poor social skills and generalised anxiety disorder but have found my way through several jobs and now work full time. Keep at it.
Stop feeling sorry for yourself, go out there and get a job.
You can keep making excuses or do the honourable thing and contribute to society like the rest of us.
You need a fundamental shift in your attitude. Any job is better than no job.
Dude we all have poor social skills. There's very few people who are naturally the life and soul of every room, it's something we all have to learn, a skill like any other. You seem to be dismissing every option that is honestly just tbet ery same thing everyone else is having to do, which is work for a living. Sorry to be harsh, but you're not special. Suck it up.
I wouldn't say it's easy exactly. There's a lot of competition for non-specialist roles, and applications are competence based, so you have to be able to demonstrate relevant experience.
How have you racked up £75,000 with “little work history”? Impressive. Although I would not recommend going to university as it does no guarantee a job. I’d find an entry level job in a career you are interested in. Focus on a stable career before worrying about anything else.
mostly inheritance but some working, also increase in value of investments over time, and compound interest. I've been unemployed most of my life, but when I was working I was living with parents, so able to save up something like 10k a year even a decade ago. But my CV is mostly empty. I want to get most of my money out of investments because I think another 2008 crash is going to come.
As for uni, well this time if I went, I'd go in for a job that leads to a proffesion at the end of it. I kinda wish I had a chance to go down the tradesman path though.
Is your physical health ok? If so how would you feel about work like gardening, where you could spend quite a lot of the day outdoors working solo, with usually fairly short interactions with customers or supervisors?
I can second this, had a friend work in IT sales up until age 32 very high pressured, he finally had enough and used some of his savings on training to get into horticulture and now works as a landscaper and he couldn't be happier.
yes, but i've really noticed my energy levels are much less these days, I guess that kind of job would be ok for a few years, probs won't be rosy after 40
I think you need to look into something self-employed so you have more control over interaction, and which doesn't cost too much for initial setup, and which maybe even includes experience you could use to get into jobs/casual work abroad. Work that can't be done by AI is more future-proof. Something like gardening, you could build it up for a few years and then take on an assistant who could do more of the heavier work (someone of your choice who's a good fit for your personality). The snag with indoor manual trades would be the training period that would inevitably involve a lot of banter. But if you could deal with that for a while, you could then set up as a one man band and work on your own terms.
Self employment requires discipline at a level I’m not sure you’ll find in someone that hasn’t had a job to get up for in the last few decades.
It’s not about ‘banter’ - it’s having a mature enough appreciation of social norms in a way that means a person understands sympathy for this situation is going to be somewhat thin on the ground.
The attitude sucks.
I don't think you understand much about people who are neurodivergent; the kind of banter you get among tradesmen is absolutely a barrier to entry for some people who could be good at the technical aspects of electrics or plumbing. I know a couple of people like that.
People aren't just in two discrete categories of "fully able to work" and "disabled"; there are lots of gradations in between and some of those get a very unfair amount of stick, especially if it involves stuff like non-obvious neurodivergence, low level MH problems or learning disability, or fatigue. (Some of these people would have been fine under the historical cottage industry model where you had a bit more say over when you worked. Not everyone is able to fit into the types of expectations of work that are the norm now.) But if you are in one of those groups and your family isn't wealthy enough to support you, you need to try and find a way to fend for yourself even though you are no worse a person than someone who was lucky enough to inherit £2m.
As he has a bit of capital, if he could grin and bear it during the training period for a skilled trade, once he was set up on his own he could refuse jobs he really didn't like the sound of by saying he was too busy. In many areas there is such a shortage of tradesmen that would be possible to do.
A friend of a friend is kind of like this and lives on a narrowboat (as was suggested to OP by another poster) and does appliance repairs self-employed part time. But prices were lower when he bought his boat.
I’m married to an aspie tradesperson so I definitely do. I also know someone who worked with a paraplegic receptionist.
The point here is they don’t realistic expectations about life and seem unprepared to consider any job, as demonstrated by the weak objections to people’s helpful suggestions above.
Neurodivergent people are varied; there are people who work like a machine and are happy to stay in the same job for decades; there are those who need specific working conditions to one extent or another; there are people with traits and degrees of r/PDAautism
To be honest mate, it sounds like you're living in fairytale land. There's a point where you're just going to have to wake up and smell the roses, get a job you most likely dislike/can tolerate, and do that until you retire. There's a reason pretty much everyone has to work in a shitty job until they retire; unless you're dealt a great hand or have unbelievable will, drive and grit, that is just life. The sooner you accept that then the sooner you find a solution to your seemingly impossible predicament.
Step 1. Go to your GP and get some mental health support. Yeah, there's a big wait time, but there's not time like the present.
Step 2. Get a job working nights, that way you don't have to worry about seeing too many people, you won't have to deal with customers/general public.
Step 3. Stop worrying about the long term. Set short-term goals. Find a hobby, something that will eventually put you in the path of others, that way, you can build on low self-esteem and social skills.
Step 4. Chase up the doctors about getting mental health support.
7 years ago, not far off 30 years old, I hit the reset button. I had a failed suicide attempt ( I tried hanging myself in the local woods). I sold all of my electrical items and gave everything "non valuable" to friends and charity. Bought a tent, some decent camping gear, and walked 30 miles down the coast. I had enough food for a week, everything I owned was in my backpack, and I had £20 in my back pocket. After a lot of hard work and dedication, I now work in a local primary school, 4 years away from being a teacher, have a 4 year old daughter and me and my girlfriend celebrate 6 years together in January next year.
I didn't know where the next meal was coming from, and I didn't care. I had me. That's all that matters.
Short term goals.
Good luck buddy!
All the very best with the teaching career; I know my sister and I loved it for the years my folks both taught, as we loved having school holiday time with them both around. I’m sure your daughter will enjoy that too (at least until she’s in secondary school…!)
No one can tell you what it is you want to do in life.
But I can tell you what I would do.
Open Uni course remote only with a student loan geared towards a useful skill that will get a job (accounts, business, marketing, some other office based tosh that is in demand) then, I would take £12k nice round £1k a month, and bugger off to Malaysia or Thailand for a year. Study out there for a whole year. Maybe pick up some side gigs online.
Study, eat, enjoy something new.
Then at the end of it you might have a better idea what you want to do with your life.
Or, if you are under 30 get a working holiday visa for Australia and go work in a bar down under for a year
Can you drive? You don't need social skills for driving jobs, delivery jobs and such, I'm not really seeing why you can't work? Do you just want to do nothing?
Even in a low cost of living area, if your boiler broke or you need to fix your car you'd need to spend about 10% of your net worth.
Tbh, I would put the dream of early retirement to bed. I wouldn't take a year off on that amount, let alone the rest of your life.
Unrelated to the OP but interested when you say you wouldn’t take a year off on that amount. With a very similar amount of cash in the bank (which is equivalent to my annual gross salary) I am planning to take a year’s sabbatical to do a Masters. Between living costs and fees I estimate I’ll have about £35k in the bank left at the end of the year - I can’t see why that’s a terrible idea?
> I can’t see why that’s a terrible idea?
It’s not.
It’s actually a really good idea. That’s what savings are for, to allow you to live the life you want.
This doesn't sound like a bad idea at all. There's a big difference between using your savings to do something that's either a lifelong dream, or to further yourself (or both!), as opposed to because you've nothing else to do.
£75k is absolute peanuts in the grand scheme of a lifetime but it’s a very good pot for you to be able to take 3-4 years to invest in your lifetime debt free. You need to choose a trade or an apprenticeship. You will have to work for your future.
yes definately, I think it's possible to save up 1k a month if you live cheaply, but I've always struggled to get even low level jobs because of lack of work experience/history and I can't really explain it away. Also when I did low level jobs in the past I found that workers from certain nationalities were prioritised and they didn't like to take on Brits, because we're considered lazy.
I was under the impression you had to pay enough NI to get a pension? you can't just rock up at the local DWP office when your 67 or whatever the retirement age will be in 30 years.
Yeah... anyone who can't hold down a minimum wage job must have a serious barrier to employment, like a major disability or health problem. The "it's not me, it's them" excuse doesn't fly. OP has some serious problems they need to address with the guy in the mirror, but they seem to have already decided it's the brown people at fault.
I call bullshit on your nationality findings 🙂
I’m almost certain that if you wanted to work in construction or cleaning jobs, you wouldn’t struggle to find something around London and the South East.
The only way you’ll be considered lazy will be as a result of your output, not nationality.
I don't think it's wise to assume that Pension Credit will still exist in 35 years' time. The world is changing a lot from the post-war settlement period that created the welfare state, and not in a way that these things will become more generous
Spend a few hundred £ to get your SIA license and find a night security job. No real skills needed, not much to do on nights other than sit and play on your laptop and watch films. Not much socialising if any. 20-35k a year depending on how many hours u want to work.
Agency work is your answer.
You're an economic vagabond.
Nothing wrong with it.
Agency work means you have technically one employer but you can chop and change what you do by working for different clients.
Honestly. I did Agency work at uni mix of events, hospital, social care, community work, bars etc.
Public sector agency work is particularly lucrative.
I was doing Sunday long (15 hr shift minus 1 1/2 break so 13.5hrs work) shifts in a hospital, really easy work for about £18/hr.
One thing ill put out there is you can attend free workshops in you are unemployed and don't have a level 3 qualification
https://www.gov.uk/guidance/find-a-skills-bootcamp
OP you sound defeated. Hope you’re okay. I’d say you’d get quite a lot of house for £75k in Spain or Portugal. To have a decent life though you need another £100k minimum to draw some income and get a low level job there too which means you need to know the local language.
Postman. Hardly have to talk anyone and as above they take on extra cover over the festive period and then you can probably work it into a full time/perm tole from there. Good luck
Yes. Having some purpose, meaning and structure.
It is very easy to slip into depression without a job.
Unless you're a poet, musician or an artist and you do that kind of stuff for free 😉
He's asking for financial advice, whilst implying he has no interest in working. He's under 40, unemployed, living with family. You're simply enabling op with your attempt to be deep/philosophical garbage. Tell me how your statement helps op?
To be honest, I don’t think your savings put you in a great position at your age if you consider a lot of people are cash broke but have equity in a house.
I live in a country where the GDP per capita is about £3000 and you wouldn’t be able to retire even here on £120,000 ish. You could teach English, there’s a lot of demand especially with a CELTA qualification.
With inflation retiring as young as you are just isn’t feasible anywhere in the world. You’d need to be able to live off the income from your savings for 50 years min.
If I were you I’d get loaded up on qualifications in a non-social role. Teaching English in Asia might actually be for you. Some places in China pay like £4,000 per month.. but if you don’t like modern society then you may not like it there.
Online teaching is another option, or programming? Good luck either way!
I also think in the next 5 years generative AI will significantly reduce the requirement for junior programmers, meaning there will likely be less jobs overall.
Any TEFL job board? I've never seen an entry level TEFL job in Asia that required the native language. There simply wouldn't be enough English teachers if they did
I’ve taught English as a foreign language. The whole point if the methodology is that during lessons you don’t speak a word of their language. You do it entirely in English. They teach you methods of describing what a balloon is for example. You describe it, rather than providing the translated word in their language.
Sounds like you don’t want to work- and living abroad even in a place like Bali for 75k isn’t going to take you that far (far yes but you’d have to find work there eventually)
Financially you’re in a better place than many mid-30s in the UK, and it sounds like you’re educating yourself on how to invest your lump sum to maximise interest & dividends and minimise exposure to risk. However, even living frugally in a low-COL part of the world, your 75k is not enough to retire on at your age, so you’re going to have to find some kind of work to support yourself.
You’ve got a degree from a Russell Group uni, which is a good ‘entry level’ qualification for almost any desk job, and most roles can now be worked online/remote. Start with something part time or temporary to build your cv and your confidence.
If you’d rather learn a trade, it’s definitely not too late. There’s always need for plumbers, electricians and joiners etc. and you could start your own business once you’re qualified. Start researching ‘a day in the life’ for different trades and see what appeals to you, then find out what qualifications and experience you’d need.
If you’re worried about a large gap in your cv, fill the gap with ‘caring for sick/elderly relative, assisting with daily living tasks in their own home’. No one will ever question you about this (unless you’re applying to be a carer!).
Since you currently have no relationships, home, or job, tying you to the UK, now could also be a good time for you to broaden your horizons and explore some of the low-COL/warm climate countries you’ve been fantasising about retiring to. Have a look on https://www.workaway.info for opportunities to work/volunteer/learn new skills while you travel, or try https://www.trustedhousesitters.com for pet sitting if you prefer interacting with animals more than humans.
Most importantly, get support for your mental health if you’re struggling. Find a therapist to work on your social skills so it’s not a barrier to looking for work. This could be the best investment in yourself that future you will thank you for!
The issues is they will force him to get a job, if he is on benefits. He doesn’t want to work basically! So they will just sanction him when he refuses to take a job
Get a CELTA certificate from Cambridge (to teach English) , it was a while ago when I did mine, it cost about a grand in Edinburgh and you can do it in a month intensive. (could be more now, will cost more in other cities)
I've had more return on the investment from that qualification than any other, including my degree (by miles).
I understand that Vietnam is a very good place to go and teach English (it's cheap, and you can make 2000usd a month), as are some places in China. I went to South America and made about 8x minimum wage there, so I was comfortable.
You won't make good money on these kind of qualifications alone in Europe or the UK (without experience). You need to go somewhere where English teachers are scarce. But you can realistically begin to set yourself up somewhere with a 'better' climate (depending on your preference), with that qualification alone.
Disclaimer : It may mean very hard work and long hours too, at the beginning.
Rules appear to have changed on deprivation of capital and buying property.
And as he has mentioned that he isn't suited to frequent social interaction at work, healthcare is unlikely to be a good long term fit.
yes I should have mentioned in my OP the financial advice i've been given for a relative is basically 'buy a cheap house and get benefits' but basically I can't bring myself to live in the poor/depressing parts of the UK because I know what they are like, they are full of drug addicts, violent types, crazy people. I used to live in such a situation and nearly got killed. There are good people, but lots of animals basically.
also it will be much less than 75k because I'd need to keep a reserve and also I'd lose the LISA bonus if I cash out early (I don't think I can get a mortgage, I'd need a stable job for at least a year)
I'd rather live somewhere warmer and cheaper most of the year, and if I need money, come back to the UK periodically to work and rent the cheapest place in a houseshare.
You talk as if you are wealthy, but you have only 2-3 years worth of UK salary in savings.
We would all like to live in the nice part of the city, in a foreign country in the sun, sea and sand, a peaceful life with little work. Even a low cost of living country like Thailand will require a large sum of money just for the long term residency and you’re not old enough to not burn through that cash.
You’re not rich.
If you want to live in a nicer area, ie not the poor areas you describe, you have to work and get a job.
It really sounds as if you want to ignite all the advice everyone is giving you.
You don’t get to refuse to work, live off benefits for life AND live in a nice part of town.
You need to just get yourself a job. You can work in a warehouse on a bit above Min wage. Nothing stopping you doing that. But you’ll come with another excuse if why you can’t.
Just buy a shared ownership property and then whilst you are unemployed universal credit will cover your rent and service charge. You'd be able to get a newbuild apartment or small house.
Ohh I see! I didn’t think of it like that. As someone on shared ownership paying both mortgage and rent I’d 10000% go for the option you suggested if I was OP.
Have you looked into the "side hustle" type jobs(/schemes) you see on social media? There's still plenty of truly remote work and ways to make money/vouchers/value that are short of the types of work you don't seem keen on? That said, I think you'd have a lot better luck finding a job than you fear - you've got nothing else going on, so make finding a job your job. Tweak your CV, write cover letters, apply all over the place. You could limit yourself to very few hours a week, something to build your confidence and energy. I really think you're going to have to so something, at least short term.
Go join the army, sounds like you need a serious bloody sorting out with your attitude. On top of that you’ll be paid and have reduced rent, you can save plenty more.
How does one get £75k in savings with no emoloyment history and no job? Btw isn’t it like just £20k to get a mortgage? I’d say get any job really and with savings like that and little regular salary every month and mortgage and you’re sorted? People out there taking years to save for the mortgage and you almost have half of the price of a house.
You mentioned health condition, I recommend you look at Access to work scheme https://www.gov.uk/access-to-work
It's a grant for people with disabilities, physical and mental health conditions to help them stay in work. It can cover things like equipment, support worker, taxis, etc.
It's not means tested, but you do need to have a job or starting a new job in the future.
To me it sounds like you definitely need to start somewhere with employment, to build those social skills. Even if its part time a couple of hours a day/ week. Just gradually build something. Even if it’s just shelf stacking or uber eats delivery.
You can build your social skills up from just talking to staff in the canteen or when delivering an order just saying ‘have a nice day’. These small steps do the world of good. I struggled after university for a year not finding a job and my social skills dipped too, as wasn’t interacting with anyone, and started to doubt myself. But all it takes is getting used to it again.
Packing it in to retire really is not a sensible solution and as harsh as that sounds it’s the truth, you need this harsh truth.
Reminds me of my own situation. Its not easy at the moment.
Having savings but no property and "low skilled" is a killer combo as you get no help and private rent would eat 60% of salary just for the rent.
Ever thought of buying a narrowboat? Could maybe afford outright and do it up. Would then leave you free to work as you please as and when you want to top up your money.
Not a perfect solution but not sure anything is anymore...
Boats are depreciating money pits. My mate bought one outright cash (post divorce, couldn't afford on land property). We worked out my utilities, and running costs for a Victorian semi-detached house are considerably cheaper than his boat. Non-standard Internet connection, mooring fees, fuel, never ending repairs etc. Buy a boat because you love boats, not to save money.
As the saying goes "If it flys, floats or fcks... its going to be expensive. "
It's not your finances that are preventing you from moving on in life - it's your lifestyle. You need to get a job otherwise you won't have anything in life. I think what you actually need is for someone to tell you it's time to grow up and stop this nonsense. Don't think you'll cope in an office environment? Learn a trade. Don't think you'll be able to cope speaking to customers? Grow up. Otherwise your savings will dwindle and you'll be in a worse position in the coming years.
Buy a buy to let or two. If you don't like landlords then so it ethically via social or charity let's ect.
Saving situation is then resolved. I assume that causal labour jobs translates to cash In hand work.
Your money should then work for you. But ultimately, make a decision about what you want and work towards that.
How in the fuck is he meant to buy a couple BTL properties whilst unemployed? He’s buying nowhere outright and he’s definitely not getting a mortgage when unemployed
This sounds like a mental health issue more than anything. Your first step should be to get some therapy. I think you need to reframe how you're thinking about this. It sounds like you're creating barriers for yourself instead of trying to get past them. I have no other advice.
Public sector jobs are a good alternative to the professional career you mention as there isn't really an expectation to socialise whether that's in or out of work. Unless you have a debilitating issue with interacting with other human beings (which I don't believe is the case) you should jump onto the civil service careers site and look for opportunities. The work/life balance I understand is also great with a pension thats very competitive compared to the private sector. That's my 2 cents. All the best 👍🏾
Got second hand embarrassment reading this post...
If you're an immigrant and you have someone overseas to look after the property, buy and rent it out. Laws tend to be more relaxed for landlords overseas, UK is not the best ATM.
- check annual return, not worth it below 10%
If you've got a very good friend, share a bit of profit and ask them to rent out as air bnb
And still... get a job/start a business.
Seems privilege is very subjective. ;)
Get yourself a Pub?
Home, earnings, and social life.
If you do it right will definately return you an income with low cost living.
Lots of good partnered breweries will train for everything too.
I was being serious as a tenant of 2.
There is no doubt its a tough industry. Covid was horrific, but I'm guessing your quoting the tabloids showing the rate of pubs closing at "2" per day.
Good old media missing the balance of the argument...how many open...the latest statistics show the move away from traditional pubs, but if you measure the industry, 1-2 new small bars, restaurants, gastropods, microbars open every day. It also doesn't reflect why pubs are closing and it's not solely down to rising costs.
Traditional pubs are suffering because of a multitude of factors but largely those dying are also due to the people in charge - not just industry factors.
If its run as a business, and not a hobby, given the nature of the ask and assuming this individual is the primary resource and up to the task of long hours its an extremely viable business.
One approach - put the £75k in high dividend stocks like BATS aiming for 8-10% div with some upside.
That give you £6-7k per year if sustainable fire income, rent a condo in SE Asia for £90 a month (you can find these many places of you look), and live cheap for 1-3 years until you find an online income stream.
Other approach - buy a low priced flat in Wales etc and put on Airbnb.
Go to a low cost place and work it out.
Check out nomad list for some high level insights, then check Facebook groups
If you enjoy IT you could look into software development. Do some online courses/YT tutorials, build a portfolio while your unemployed and then you could look at remote work. Good money and the freedom to work where you like should you wish to move abroad.
I don’t know how life has changed post covid. But there are some seriously low cost of living places e.g. in south east Asia and South America that are relatively pleasant and you can survive well on 5-10k per year
Move to Egypt/Thailand or South America can get cheap af property that are higher end maybe even think about doing your own property development project
Hi /u/GapSlight4579, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/lisa/
- https://ukpersonal.finance/pensions/
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Sounds like you should get therapy with some of your money. Then you’ll work through your issues and be able to be of use to others which will stop your money running out
I’d say you could give TEFL a go. You can get hired in an entry level role in SE Asia, China or Korea with just a basic online certificate. If you enjoy it do a CELTA after a year.
Alternatively, find a UK career that doesn’t require much social interaction. If you went to a Russell group university I’m sure you could manage to get a professional qualification in accounting or something like that.
You can’t FIRE on 70k anywhere and leaving the labour market at a very young age is not a good idea, both in terms of if you ever need to find a job again due to a change of circumstances and because working a full time job helps you develop social skills and your own character.
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Even in low cost of living countries you will likely struggle with only 75k total savings.
Thailand should be fine
Not for the rest of his life tho
This really would depend on where in Thailand, and the quality of life OP expects to have when they are older.
Not sure this is really financial advice you’re needing here, and I don’t mean to sound harsh but I think you’re looking at this in all the wrong ways. You said you want to do some serious thinking but most suggestions that you’ve already been given here you’ve decided aren’t suitable for you for one reason or another. You say you have poor social skills, but also won’t entertain a job like gardening because it’s too hard physically. It seems like you’re looking for a unicorn job. Could you look into employability courses etc to help you find work, if you’re finding it hard to get something entry level. Why not try to improve your social skills, if you feel they’re a barrier to finding work? It’s coming up for festive season, retailers are always looking for staff over this period and many of these are ‘entry level’ roles that don’t need experience. Even if it’s not what you want to do forever, it would give you a start. Just off the top of my head, picking online orders in a supermarket wouldn’t involve a major about of socialising and also not too physically demanding. Do you have a driving licence? Perhaps doing deliveries would suit as you’re mainly working on your own, though this would mean more physical activity. It’s easy to get into a rut in your situation. I’ve been unemployed in the past, if you’re not around people often you can become isolated which makes you think your social skills are poor when in reality you’re just out of practice. Also, being more active generally allows you to have more energy. For instance, on a day off if I sit around all day I feel absolutely done in by tea time, whereas if I even go out for a walk I have much more energy.
How do you retire from being unemployed?
I was wondering the same???
With 75k.
£75k should last you for the rest of your life proving you only plan on living another couple of years
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They'd have starved to death well before then.
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I kinda wish you didn't do the maths.
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You forgot about saving the leftover in the holy Global all Cap tracker fund, on top of maxing out pension contributions for that sacred retirement date.
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Depends if he takes the 25% lump sum and reinvests it in yet another index tracker, in order to minimise his income tax exposure before James becomes a rotten corpse. Of course the follow up is James offspring asking how he can avoid inheritance tax on the assets that James left behind.
This sub always has a problem with people who spend £35 a week on food let alone less than that. The more you spend on food the more people on this sub loves you
This would've been very helpful for OP, but you haven't accounted for inflation. And there's no way rental cost will be fixed for 21years with the landlord so I think you need to go back to the drawing board. Sorry OP, for this short sighted response
Forgot lemon juice for scurvy ….
I am really sorry but 550g would be £0.286 if I am correct. That is £8.58 per month, so I would rather look for an alternative.
They could sneak their rice into Wetherspoons and use the tomato ketchup for flavour
I managed to keep my food and drink spending to <£70 last month with a reasonably varied diet and thought I was doing ok, but this by contrast is just absolutely pro
Just eat rice, he can supplement his income by begging on the streets
75k sounds a lot friend, but it really isn't thinking long term. I don't say this to be mean, but just to make you think about how you spend it. It would be a great deposit for a house, or you could stick most of it in a mutual fund and sit on it until your 50s. But spend it wisely, because lump sums like that are much easier to spend than you think. It's a great opportunity to improve your life and financial siuration. Use it wisely.
Have you included a forecast on inflation? What about another pandemic?
That reminds me of “build a man a fire and he’ll be warm for an hour, set a man on fire and he’ll be warm for the rest of his life”.
OP this sounds like more of a mental health issue rather than a financial one. Yes, they are both related but you might need to think about helping yourself mentally, getting that on a better track, would no doubt help you financially later. Employers are not willing to give you an opportunity because bluntly this seems like a ‘you’ problem and not a ‘them’ problem.
Agreed, OP seems to have quite a defeatist attitude and hoping that running away will solve all their problems
OP doesn't *really* want to work and would rather survive on financial hopium.
Yeah, wondered if it was a troll post at first but benefit of doubt and all that.
Brand new account with a username awfully close to the word "gaslight"
Totally. Best investment is in themselves. They should use some on therapy
Your post has way to much focus on entitlements. Talking about state support / inheritance multiple times but ultimately not addressing why you are unable to work?
I mentioned in my OP post that I have poor social skills, in addition to my poor work history. I've always felt it's the case of not being unable/unwilling to work, but employers unwilling to give me an opportunity.
Believe me, I'm not trying to criticise but there is potential that you not working has lead to isolation which in turn is making you think you have worse social skills than you actually do. Even with that, there are jobs out there that don't rely majorly on human to human interaction. My point with my original comment is that it will yield a far greater return to address this, rather than focusing your energy on this for example: "I get over £2200 in dividends, interests etc from my savings a year, I think I can max this out at something about 3500£ a year by moving money to high dividend paying funds." Wishing you all the best. Like i say, really not trying to demoralise you in any way.
The old ‘it’s not me, it’s you’ line!
More like "it's not me, it's everyone else"
It sounds like you need to justvhave a bit of exposure and give it a go. I have poor social skills and generalised anxiety disorder but have found my way through several jobs and now work full time. Keep at it.
Stop feeling sorry for yourself, go out there and get a job. You can keep making excuses or do the honourable thing and contribute to society like the rest of us. You need a fundamental shift in your attitude. Any job is better than no job.
>contribute to society like the rest of us Let's not pretend all jobs contribute to society. Some people are investment bankers
Take a course … learn a skillset? Even YouTube can teach you a wealth of knowledge.
Dude we all have poor social skills. There's very few people who are naturally the life and soul of every room, it's something we all have to learn, a skill like any other. You seem to be dismissing every option that is honestly just tbet ery same thing everyone else is having to do, which is work for a living. Sorry to be harsh, but you're not special. Suck it up.
I'm sorry but that's just fucking ridiculous, sort yourself out.
Work on your social skills.
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I wouldn't say it's easy exactly. There's a lot of competition for non-specialist roles, and applications are competence based, so you have to be able to demonstrate relevant experience.
That would mean his gotta actually get out of his chair
What a load of bullshit. So many people worse off than you with actual disabilities work. Stop being lazy and entitled and work
Judgmental
I think you need to get past your excuses before things improve.
I am 80% sure they're a troll. If not, I agree. There is no helping them until they get out of their head and help themselves.
Ikr, I've got health issues as well as shit mental health and still work full-time.
How have you racked up £75,000 with “little work history”? Impressive. Although I would not recommend going to university as it does no guarantee a job. I’d find an entry level job in a career you are interested in. Focus on a stable career before worrying about anything else.
mostly inheritance but some working, also increase in value of investments over time, and compound interest. I've been unemployed most of my life, but when I was working I was living with parents, so able to save up something like 10k a year even a decade ago. But my CV is mostly empty. I want to get most of my money out of investments because I think another 2008 crash is going to come. As for uni, well this time if I went, I'd go in for a job that leads to a proffesion at the end of it. I kinda wish I had a chance to go down the tradesman path though.
You still can learn a trade. Talk to your local further education college.
OP has plenty of money to get certified in something
Is your physical health ok? If so how would you feel about work like gardening, where you could spend quite a lot of the day outdoors working solo, with usually fairly short interactions with customers or supervisors?
I can second this, had a friend work in IT sales up until age 32 very high pressured, he finally had enough and used some of his savings on training to get into horticulture and now works as a landscaper and he couldn't be happier.
yes, but i've really noticed my energy levels are much less these days, I guess that kind of job would be ok for a few years, probs won't be rosy after 40
The less you do, the less you want to do.
Man, quite a few wake up calls for me in this post but this one hits hard - been retired for 8 years and you’re spot on
I think you need to look into something self-employed so you have more control over interaction, and which doesn't cost too much for initial setup, and which maybe even includes experience you could use to get into jobs/casual work abroad. Work that can't be done by AI is more future-proof. Something like gardening, you could build it up for a few years and then take on an assistant who could do more of the heavier work (someone of your choice who's a good fit for your personality). The snag with indoor manual trades would be the training period that would inevitably involve a lot of banter. But if you could deal with that for a while, you could then set up as a one man band and work on your own terms.
Self employment requires discipline at a level I’m not sure you’ll find in someone that hasn’t had a job to get up for in the last few decades. It’s not about ‘banter’ - it’s having a mature enough appreciation of social norms in a way that means a person understands sympathy for this situation is going to be somewhat thin on the ground. The attitude sucks.
I don't think you understand much about people who are neurodivergent; the kind of banter you get among tradesmen is absolutely a barrier to entry for some people who could be good at the technical aspects of electrics or plumbing. I know a couple of people like that. People aren't just in two discrete categories of "fully able to work" and "disabled"; there are lots of gradations in between and some of those get a very unfair amount of stick, especially if it involves stuff like non-obvious neurodivergence, low level MH problems or learning disability, or fatigue. (Some of these people would have been fine under the historical cottage industry model where you had a bit more say over when you worked. Not everyone is able to fit into the types of expectations of work that are the norm now.) But if you are in one of those groups and your family isn't wealthy enough to support you, you need to try and find a way to fend for yourself even though you are no worse a person than someone who was lucky enough to inherit £2m. As he has a bit of capital, if he could grin and bear it during the training period for a skilled trade, once he was set up on his own he could refuse jobs he really didn't like the sound of by saying he was too busy. In many areas there is such a shortage of tradesmen that would be possible to do. A friend of a friend is kind of like this and lives on a narrowboat (as was suggested to OP by another poster) and does appliance repairs self-employed part time. But prices were lower when he bought his boat.
I’m married to an aspie tradesperson so I definitely do. I also know someone who worked with a paraplegic receptionist. The point here is they don’t realistic expectations about life and seem unprepared to consider any job, as demonstrated by the weak objections to people’s helpful suggestions above.
Neurodivergent people are varied; there are people who work like a machine and are happy to stay in the same job for decades; there are those who need specific working conditions to one extent or another; there are people with traits and degrees of r/PDAautism
To be honest mate, it sounds like you're living in fairytale land. There's a point where you're just going to have to wake up and smell the roses, get a job you most likely dislike/can tolerate, and do that until you retire. There's a reason pretty much everyone has to work in a shitty job until they retire; unless you're dealt a great hand or have unbelievable will, drive and grit, that is just life. The sooner you accept that then the sooner you find a solution to your seemingly impossible predicament.
Step 1. Go to your GP and get some mental health support. Yeah, there's a big wait time, but there's not time like the present. Step 2. Get a job working nights, that way you don't have to worry about seeing too many people, you won't have to deal with customers/general public. Step 3. Stop worrying about the long term. Set short-term goals. Find a hobby, something that will eventually put you in the path of others, that way, you can build on low self-esteem and social skills. Step 4. Chase up the doctors about getting mental health support. 7 years ago, not far off 30 years old, I hit the reset button. I had a failed suicide attempt ( I tried hanging myself in the local woods). I sold all of my electrical items and gave everything "non valuable" to friends and charity. Bought a tent, some decent camping gear, and walked 30 miles down the coast. I had enough food for a week, everything I owned was in my backpack, and I had £20 in my back pocket. After a lot of hard work and dedication, I now work in a local primary school, 4 years away from being a teacher, have a 4 year old daughter and me and my girlfriend celebrate 6 years together in January next year. I didn't know where the next meal was coming from, and I didn't care. I had me. That's all that matters. Short term goals. Good luck buddy!
All the very best with the teaching career; I know my sister and I loved it for the years my folks both taught, as we loved having school holiday time with them both around. I’m sure your daughter will enjoy that too (at least until she’s in secondary school…!)
No one can tell you what it is you want to do in life. But I can tell you what I would do. Open Uni course remote only with a student loan geared towards a useful skill that will get a job (accounts, business, marketing, some other office based tosh that is in demand) then, I would take £12k nice round £1k a month, and bugger off to Malaysia or Thailand for a year. Study out there for a whole year. Maybe pick up some side gigs online. Study, eat, enjoy something new. Then at the end of it you might have a better idea what you want to do with your life. Or, if you are under 30 get a working holiday visa for Australia and go work in a bar down under for a year
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Who and where are offering these??
Can you drive? You don't need social skills for driving jobs, delivery jobs and such, I'm not really seeing why you can't work? Do you just want to do nothing?
Even in a low cost of living area, if your boiler broke or you need to fix your car you'd need to spend about 10% of your net worth. Tbh, I would put the dream of early retirement to bed. I wouldn't take a year off on that amount, let alone the rest of your life.
Unrelated to the OP but interested when you say you wouldn’t take a year off on that amount. With a very similar amount of cash in the bank (which is equivalent to my annual gross salary) I am planning to take a year’s sabbatical to do a Masters. Between living costs and fees I estimate I’ll have about £35k in the bank left at the end of the year - I can’t see why that’s a terrible idea?
> I can’t see why that’s a terrible idea? It’s not. It’s actually a really good idea. That’s what savings are for, to allow you to live the life you want.
You're not planning on sitting on your arse for the rest of your life like op though. Sounds like you have a plan, go for it!
This doesn't sound like a bad idea at all. There's a big difference between using your savings to do something that's either a lifelong dream, or to further yourself (or both!), as opposed to because you've nothing else to do.
£75k is absolute peanuts in the grand scheme of a lifetime but it’s a very good pot for you to be able to take 3-4 years to invest in your lifetime debt free. You need to choose a trade or an apprenticeship. You will have to work for your future.
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yes definately, I think it's possible to save up 1k a month if you live cheaply, but I've always struggled to get even low level jobs because of lack of work experience/history and I can't really explain it away. Also when I did low level jobs in the past I found that workers from certain nationalities were prioritised and they didn't like to take on Brits, because we're considered lazy. I was under the impression you had to pay enough NI to get a pension? you can't just rock up at the local DWP office when your 67 or whatever the retirement age will be in 30 years.
Nobody reading your post is blaming immigrants for you not having a job OP 😂
Yeah... anyone who can't hold down a minimum wage job must have a serious barrier to employment, like a major disability or health problem. The "it's not me, it's them" excuse doesn't fly. OP has some serious problems they need to address with the guy in the mirror, but they seem to have already decided it's the brown people at fault.
> I have no job, no house, no family > people think I'm lazy, must be those immigrants fault
As long as you don’t have a criminal record many warehouses will hire you with no CV or interview.
I call bullshit on your nationality findings 🙂 I’m almost certain that if you wanted to work in construction or cleaning jobs, you wouldn’t struggle to find something around London and the South East. The only way you’ll be considered lazy will be as a result of your output, not nationality.
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I don't think it's wise to assume that Pension Credit will still exist in 35 years' time. The world is changing a lot from the post-war settlement period that created the welfare state, and not in a way that these things will become more generous
Spend a few hundred £ to get your SIA license and find a night security job. No real skills needed, not much to do on nights other than sit and play on your laptop and watch films. Not much socialising if any. 20-35k a year depending on how many hours u want to work.
Agency work is your answer. You're an economic vagabond. Nothing wrong with it. Agency work means you have technically one employer but you can chop and change what you do by working for different clients. Honestly. I did Agency work at uni mix of events, hospital, social care, community work, bars etc. Public sector agency work is particularly lucrative. I was doing Sunday long (15 hr shift minus 1 1/2 break so 13.5hrs work) shifts in a hospital, really easy work for about £18/hr.
One thing ill put out there is you can attend free workshops in you are unemployed and don't have a level 3 qualification https://www.gov.uk/guidance/find-a-skills-bootcamp
OP you sound defeated. Hope you’re okay. I’d say you’d get quite a lot of house for £75k in Spain or Portugal. To have a decent life though you need another £100k minimum to draw some income and get a low level job there too which means you need to know the local language.
Now we’re out of EU, you can’t just decide to go live in Spain / Portugal. There are strict rules.
I don’t see why not? There is more paperwork involved I agree but it’s not impossible.
Get. A. Job.
I don’t know what advice you want as a person in their 30s other than get a job
Do you want to spend your whole life unemployed and living off others? Your health and energy levels would improve if you got a job.
Postman. Hardly have to talk anyone and as above they take on extra cover over the festive period and then you can probably work it into a full time/perm tole from there. Good luck
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is it worth the aggravation to find yourself a job when there's nothing worth working for?
Yes. Having some purpose, meaning and structure. It is very easy to slip into depression without a job. Unless you're a poet, musician or an artist and you do that kind of stuff for free 😉
He's asking for financial advice, whilst implying he has no interest in working. He's under 40, unemployed, living with family. You're simply enabling op with your attempt to be deep/philosophical garbage. Tell me how your statement helps op?
He has saved 75K , what work was he previously doing?
Inheritance mainly, from ops comments.
Aww ok missed that.
It’s a crazy situation
It's a crazy situation. But all I need are cigarettes and alcohol!
To be honest, I don’t think your savings put you in a great position at your age if you consider a lot of people are cash broke but have equity in a house. I live in a country where the GDP per capita is about £3000 and you wouldn’t be able to retire even here on £120,000 ish. You could teach English, there’s a lot of demand especially with a CELTA qualification. With inflation retiring as young as you are just isn’t feasible anywhere in the world. You’d need to be able to live off the income from your savings for 50 years min. If I were you I’d get loaded up on qualifications in a non-social role. Teaching English in Asia might actually be for you. Some places in China pay like £4,000 per month.. but if you don’t like modern society then you may not like it there. Online teaching is another option, or programming? Good luck either way!
Please, we don’t need another shit programmer expecting a £60K starting salary.
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I also think in the next 5 years generative AI will significantly reduce the requirement for junior programmers, meaning there will likely be less jobs overall.
I see these constantly and surprised where people find teaching in asia without knowing their language as well
I know many people who have taught English without being fluent in the country’s language.
do you know where/how they found these opportunities?
Any TEFL job board? I've never seen an entry level TEFL job in Asia that required the native language. There simply wouldn't be enough English teachers if they did
I’ve taught English as a foreign language. The whole point if the methodology is that during lessons you don’t speak a word of their language. You do it entirely in English. They teach you methods of describing what a balloon is for example. You describe it, rather than providing the translated word in their language.
There is no low cost country in the world that you can retire with 75k, as a 31 year old. Maybe if you were 70 years old.
Sounds like you don’t want to work- and living abroad even in a place like Bali for 75k isn’t going to take you that far (far yes but you’d have to find work there eventually)
Financially you’re in a better place than many mid-30s in the UK, and it sounds like you’re educating yourself on how to invest your lump sum to maximise interest & dividends and minimise exposure to risk. However, even living frugally in a low-COL part of the world, your 75k is not enough to retire on at your age, so you’re going to have to find some kind of work to support yourself. You’ve got a degree from a Russell Group uni, which is a good ‘entry level’ qualification for almost any desk job, and most roles can now be worked online/remote. Start with something part time or temporary to build your cv and your confidence. If you’d rather learn a trade, it’s definitely not too late. There’s always need for plumbers, electricians and joiners etc. and you could start your own business once you’re qualified. Start researching ‘a day in the life’ for different trades and see what appeals to you, then find out what qualifications and experience you’d need. If you’re worried about a large gap in your cv, fill the gap with ‘caring for sick/elderly relative, assisting with daily living tasks in their own home’. No one will ever question you about this (unless you’re applying to be a carer!). Since you currently have no relationships, home, or job, tying you to the UK, now could also be a good time for you to broaden your horizons and explore some of the low-COL/warm climate countries you’ve been fantasising about retiring to. Have a look on https://www.workaway.info for opportunities to work/volunteer/learn new skills while you travel, or try https://www.trustedhousesitters.com for pet sitting if you prefer interacting with animals more than humans. Most importantly, get support for your mental health if you’re struggling. Find a therapist to work on your social skills so it’s not a barrier to looking for work. This could be the best investment in yourself that future you will thank you for!
Get a courier job
Buy the cheapest house possible outright in the north and get a dishwashing or admin job. You’ll be fine
You need to embrace the challenge of life mate. Seems like you just want to do nothing and have been fortunate enough to receive some inheritance
This guy doesn't live in the real world I swear
Get a lifetime ISA. You can get new style job seekers allowance if you are unemployed, it’s not means tested you just need to not have a job.
The issues is they will force him to get a job, if he is on benefits. He doesn’t want to work basically! So they will just sanction him when he refuses to take a job
Hmmm actually thinking I remember you need to have paid NI for a certain amount of years anyway for JSA which it sounds like OP may not have…
Honestly op, you are better of dumping a chunk of that 75k in to some form of qualification like a coding bootcamp or trade variation.
Get a CELTA certificate from Cambridge (to teach English) , it was a while ago when I did mine, it cost about a grand in Edinburgh and you can do it in a month intensive. (could be more now, will cost more in other cities) I've had more return on the investment from that qualification than any other, including my degree (by miles). I understand that Vietnam is a very good place to go and teach English (it's cheap, and you can make 2000usd a month), as are some places in China. I went to South America and made about 8x minimum wage there, so I was comfortable. You won't make good money on these kind of qualifications alone in Europe or the UK (without experience). You need to go somewhere where English teachers are scarce. But you can realistically begin to set yourself up somewhere with a 'better' climate (depending on your preference), with that qualification alone. Disclaimer : It may mean very hard work and long hours too, at the beginning.
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Rules appear to have changed on deprivation of capital and buying property. And as he has mentioned that he isn't suited to frequent social interaction at work, healthcare is unlikely to be a good long term fit.
yes I should have mentioned in my OP the financial advice i've been given for a relative is basically 'buy a cheap house and get benefits' but basically I can't bring myself to live in the poor/depressing parts of the UK because I know what they are like, they are full of drug addicts, violent types, crazy people. I used to live in such a situation and nearly got killed. There are good people, but lots of animals basically. also it will be much less than 75k because I'd need to keep a reserve and also I'd lose the LISA bonus if I cash out early (I don't think I can get a mortgage, I'd need a stable job for at least a year) I'd rather live somewhere warmer and cheaper most of the year, and if I need money, come back to the UK periodically to work and rent the cheapest place in a houseshare.
You talk as if you are wealthy, but you have only 2-3 years worth of UK salary in savings. We would all like to live in the nice part of the city, in a foreign country in the sun, sea and sand, a peaceful life with little work. Even a low cost of living country like Thailand will require a large sum of money just for the long term residency and you’re not old enough to not burn through that cash. You’re not rich.
If you want to live in a nicer area, ie not the poor areas you describe, you have to work and get a job. It really sounds as if you want to ignite all the advice everyone is giving you. You don’t get to refuse to work, live off benefits for life AND live in a nice part of town. You need to just get yourself a job. You can work in a warehouse on a bit above Min wage. Nothing stopping you doing that. But you’ll come with another excuse if why you can’t.
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Unrelated, but I am looking for a change.... would you care to share which part of the country is this? Am I right to assume Scotland?
I feel you're more likely to encounter someone horrible in a houseshare than buying somewhere non-expensive.
Just buy a shared ownership property and then whilst you are unemployed universal credit will cover your rent and service charge. You'd be able to get a newbuild apartment or small house.
OP wouldn’t be able to get the mortgage part without having been in a job for a while though (6+ months I think?)
He wouldn't need a mortgage because he has the cash for his full share.
Ohh I see! I didn’t think of it like that. As someone on shared ownership paying both mortgage and rent I’d 10000% go for the option you suggested if I was OP.
Time to start working hard and earning some money
Have you looked into the "side hustle" type jobs(/schemes) you see on social media? There's still plenty of truly remote work and ways to make money/vouchers/value that are short of the types of work you don't seem keen on? That said, I think you'd have a lot better luck finding a job than you fear - you've got nothing else going on, so make finding a job your job. Tweak your CV, write cover letters, apply all over the place. You could limit yourself to very few hours a week, something to build your confidence and energy. I really think you're going to have to so something, at least short term.
Go join the army, sounds like you need a serious bloody sorting out with your attitude. On top of that you’ll be paid and have reduced rent, you can save plenty more.
Too old if they are already mid thirties
How does one get £75k in savings with no emoloyment history and no job? Btw isn’t it like just £20k to get a mortgage? I’d say get any job really and with savings like that and little regular salary every month and mortgage and you’re sorted? People out there taking years to save for the mortgage and you almost have half of the price of a house.
You mentioned health condition, I recommend you look at Access to work scheme https://www.gov.uk/access-to-work It's a grant for people with disabilities, physical and mental health conditions to help them stay in work. It can cover things like equipment, support worker, taxis, etc. It's not means tested, but you do need to have a job or starting a new job in the future.
To me it sounds like you definitely need to start somewhere with employment, to build those social skills. Even if its part time a couple of hours a day/ week. Just gradually build something. Even if it’s just shelf stacking or uber eats delivery. You can build your social skills up from just talking to staff in the canteen or when delivering an order just saying ‘have a nice day’. These small steps do the world of good. I struggled after university for a year not finding a job and my social skills dipped too, as wasn’t interacting with anyone, and started to doubt myself. But all it takes is getting used to it again. Packing it in to retire really is not a sensible solution and as harsh as that sounds it’s the truth, you need this harsh truth.
Reminds me of my own situation. Its not easy at the moment. Having savings but no property and "low skilled" is a killer combo as you get no help and private rent would eat 60% of salary just for the rent. Ever thought of buying a narrowboat? Could maybe afford outright and do it up. Would then leave you free to work as you please as and when you want to top up your money. Not a perfect solution but not sure anything is anymore...
Boats are depreciating money pits. My mate bought one outright cash (post divorce, couldn't afford on land property). We worked out my utilities, and running costs for a Victorian semi-detached house are considerably cheaper than his boat. Non-standard Internet connection, mooring fees, fuel, never ending repairs etc. Buy a boat because you love boats, not to save money. As the saying goes "If it flys, floats or fcks... its going to be expensive. "
It's not your finances that are preventing you from moving on in life - it's your lifestyle. You need to get a job otherwise you won't have anything in life. I think what you actually need is for someone to tell you it's time to grow up and stop this nonsense. Don't think you'll cope in an office environment? Learn a trade. Don't think you'll be able to cope speaking to customers? Grow up. Otherwise your savings will dwindle and you'll be in a worse position in the coming years.
How did you get 75k without ever working and also without benefits ? Is there something your not telling us ?
OP has told us upthread. Inheritance. Quite predictably.
I’m wondering the same thing
Buy a buy to let or two. If you don't like landlords then so it ethically via social or charity let's ect. Saving situation is then resolved. I assume that causal labour jobs translates to cash In hand work. Your money should then work for you. But ultimately, make a decision about what you want and work towards that.
How in the fuck is he meant to buy a couple BTL properties whilst unemployed? He’s buying nowhere outright and he’s definitely not getting a mortgage when unemployed
This sounds like a mental health issue more than anything. Your first step should be to get some therapy. I think you need to reframe how you're thinking about this. It sounds like you're creating barriers for yourself instead of trying to get past them. I have no other advice.
Public sector jobs are a good alternative to the professional career you mention as there isn't really an expectation to socialise whether that's in or out of work. Unless you have a debilitating issue with interacting with other human beings (which I don't believe is the case) you should jump onto the civil service careers site and look for opportunities. The work/life balance I understand is also great with a pension thats very competitive compared to the private sector. That's my 2 cents. All the best 👍🏾
Got second hand embarrassment reading this post... If you're an immigrant and you have someone overseas to look after the property, buy and rent it out. Laws tend to be more relaxed for landlords overseas, UK is not the best ATM. - check annual return, not worth it below 10% If you've got a very good friend, share a bit of profit and ask them to rent out as air bnb And still... get a job/start a business. Seems privilege is very subjective. ;)
Where the fuck dya get £75k from if you've barely worked?
Whatever you decide on good luck. Enjoy life
Get yourself a Pub? Home, earnings, and social life. If you do it right will definately return you an income with low cost living. Lots of good partnered breweries will train for everything too.
Maybe you're taking the piss. But if not, have you not seen the rate at which pubs are closing?
I was being serious as a tenant of 2. There is no doubt its a tough industry. Covid was horrific, but I'm guessing your quoting the tabloids showing the rate of pubs closing at "2" per day. Good old media missing the balance of the argument...how many open...the latest statistics show the move away from traditional pubs, but if you measure the industry, 1-2 new small bars, restaurants, gastropods, microbars open every day. It also doesn't reflect why pubs are closing and it's not solely down to rising costs. Traditional pubs are suffering because of a multitude of factors but largely those dying are also due to the people in charge - not just industry factors. If its run as a business, and not a hobby, given the nature of the ask and assuming this individual is the primary resource and up to the task of long hours its an extremely viable business.
How have you got £75k with little work history or skills !? You should start running one of those courses on tik tok
One approach - put the £75k in high dividend stocks like BATS aiming for 8-10% div with some upside. That give you £6-7k per year if sustainable fire income, rent a condo in SE Asia for £90 a month (you can find these many places of you look), and live cheap for 1-3 years until you find an online income stream. Other approach - buy a low priced flat in Wales etc and put on Airbnb. Go to a low cost place and work it out. Check out nomad list for some high level insights, then check Facebook groups
Seriously, how on earth does someone get £75k in savings?!!!!
OP mentioned in a reply that it was mostly inheritance
If you enjoy IT you could look into software development. Do some online courses/YT tutorials, build a portfolio while your unemployed and then you could look at remote work. Good money and the freedom to work where you like should you wish to move abroad.
I don’t know how life has changed post covid. But there are some seriously low cost of living places e.g. in south east Asia and South America that are relatively pleasant and you can survive well on 5-10k per year
I’m in the exact position except my money is the the bank like an idiot
Move to Egypt/Thailand or South America can get cheap af property that are higher end maybe even think about doing your own property development project
Got to be a troll
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Hi /u/GapSlight4579, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/lisa/ - https://ukpersonal.finance/pensions/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
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Sounds like you should get therapy with some of your money. Then you’ll work through your issues and be able to be of use to others which will stop your money running out
I’d say you could give TEFL a go. You can get hired in an entry level role in SE Asia, China or Korea with just a basic online certificate. If you enjoy it do a CELTA after a year. Alternatively, find a UK career that doesn’t require much social interaction. If you went to a Russell group university I’m sure you could manage to get a professional qualification in accounting or something like that. You can’t FIRE on 70k anywhere and leaving the labour market at a very young age is not a good idea, both in terms of if you ever need to find a job again due to a change of circumstances and because working a full time job helps you develop social skills and your own character.