Building for a future......

It's an interesting time, for me and in fact for the whole world, in terms of financial change. With the current issues facing the Euro and the impact that could have, indeed is having, on the UK economy then lots of things seem a bit uncertain.

I feel quite lucky (although I suspect that the people around me would remind me that we make our own beds!) in that my income significantly exceeds my outgoings even after I have contributed generously towards the up-bringing of my children. On the downside, the resolution of the divorce settlement may have left me without having to contribute to a very large mortgage but it has also left me without equity. Clearly, there is a need to build up funds, which should happen relatively quickly, even without that lottery win which I know is just round the corner ;-)

BUT as everything changes and I head towards my mid-forties (or at least that is where I will be the time I've saved up a significant deposit) what does the future hold??? Is buying a place of my own really the best idea? I'm not completely sure. I do like the fact that as a tennent in my rented house if ever I find the boiler is n't working or the rain is coming for example I can just ring up the agents and it get's fixed, at no cost or fuss to me.

If I want to buy a similar place to that which I'm renting now (on a 20 year mortgage without a significant chunk of equity) then the monthly mortgage repayments would be a lot bigger than my rent, and most of that would be gifted to the bank in interest. There's much to ponder, even if I were to buy alone, and that might not be the case as my relationship with the gorgeous Kate seems to go from strength to strength, and in time we might like to bring our lives closer together.

I think there is time to think whilst I'm saving. Time to watch the economies of the world and see what happens in the uk with the buying market, and time to see how things develop with Kate. At some point, I think some money spent on an hour with my Independent Financial Advisor might be a sound investment.