I've taken a big risk this week!

  Quickbeam 08:25 26 Oct 2008
Locked

The dire financial outlook:

As the pension funds have been under performing for decades, I've lost faith in the ability to be able to retire in comfort. So this week I've been able to draw 25% of my funds tax free and to invest/risk them in a venture with a partner.

My view is that I've nothing to loose, but everything to gain if we try.

In every recession there are winners and losers and we feel we have an idea that will work best started in a poor economic climate.

So this week I'm feeling quite elated as I've formed a limited company with a partner and become a director... not bad for a poor performer at school:)

"the only way is up!"

  canarieslover 08:31 26 Oct 2008

Good Luck!!!

  Quickbeam 08:40 26 Oct 2008

Thanks, maybe this when my hair will start to go grey...

  Forum Editor 08:43 26 Oct 2008

with your new venture. Nothing beats working for yourself; it's extremely scary at times, but you'll get used to that.

  carver 12:11 26 Oct 2008

A friend of mine a few years back took the plunge and started a business that I thought would never take off, he proved me wrong and I am glad he did, he made me a lot of money.

So best wishes on your new venture and I hope everything goes well, just keep us informed, you never know it might be some thing we could all never have lived with out.

PS Do we get a discount if we say we know you?.

  tigertop2 12:14 26 Oct 2008

Very brave Quickbeam, but no risk-no gain. Whatever it is the best of luck to you.

  The Brigadier 12:56 26 Oct 2008

Premium Bonds & other National Savings Bonds are probably the safest option at the moment.

  Quickbeam 13:07 26 Oct 2008

I took the decision that if I didn't put some ideas to the market now I never would. I was never going to retire to Monaco, but it might just be so...

Actually, I wouldn't retire further afield than The Lakes:)

  oresome 13:17 26 Oct 2008

"My view is that I've nothing to loose, but everything to gain if we try."

Most new businesses fail. You are at an age where there is little time to recover from mistakes and you may be looking forward to a bleak retirement.

Sorry to be negative, but now's not the time to be wearing rose coloured glasses.

  Brumas 13:23 26 Oct 2008

There's life in the old dog yet then ;o))
Go for it young man and all the very best luck.

  laurie53 19:43 26 Oct 2008

The person that never made a bad decision never made anything.

The very best of good fortune.

At least in ten/twenty years you won't be saying "If only" or "What if"

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