Gilgongo wrote:As an initial concept, I see no significant problems with that. The only thing I'd say is that I'd also like to see some basic working for the guidance given, if only to enable me to sanity check if I wanted.
As to how much I'd be willing to pay: the labour-saving aspect is the main thing, followed by the reliability. It also feels a bit like an insurance policy against bankruptcy too. I think it might need to be more than a simple SWR + CPI strategy though. I'm thinking maybe an inflation-adjustment and guardrails instead perhaps. But then I’ve not done much research on strategies other than buying the aforementioned “Beyond the 4% Rule” and reading a few online articles.
So with sufficient confidence in the strategy (and reliability), I’d be willing to pay maybe £300 a year or thereabouts. And as a beta test it feels right for maybe 3-5 years to give it a good shake.
Basic working for the guidance given? No problem. I’m sending you a spreadsheet by email so you can check all the working. By the way, the email has a major caveat clause which says I’m not responsible for any errors or omissions and the spreadsheet is for guidance only so actually you’re obliged to check my workings and you can’t place any reliance on the spreadsheet at all. I don’t want the members of my advisory service suing me after all! I’m just some bloke on the Internet!
Reliability? Ummmmm not sure about that. See my caveat above. Insurance policy against bankruptcy? Nope. See the small print. The value of your investments can go down as well as down further. Following the guidance provided in the spreadsheet should not be misconstrued as financial advice and does not provide any guarantee that you won’t end up destitute in your dotage. If in doubt, seek advice from a regulated financial advisor. This is great! You’re already helping me draft my small print!
Ok so that’s one member signed up for £300 in year one. At £10 per hour that buys 30 hours to knock it together. Oh, minus the domain name registration fee, company registration, fees to setup a business bank account, transaction fees for taking the payment, website hosting fees, advertising fees to get the concept out to member number two etc etc. Not enough money on this really to ensure that I put top notch security in place and comply fully with GDPR. Never mind, I look trustworthy enough for a random bloke on the Internet. I’m sure there’ll be loads of other people who want to sign up and pay me £1000 up front for this. Oh sorry, didn’t I explain. As a beta tester you get 5 years for £1000 but you have to pay up front... before I’ve actually built and tested the service. Still in?
Now, I only need about 50 more people at £1000 each and I’ve cracked it. I can FIRE a year earlier than I planned! Who’s next?
Degsy