I am glad you were able to borrow from your partner to get you over the difficult period. For myself and my partner (wife of 32 years), we seem to be attuned well for each other. I have no idea whether our planning would work for anybody else, but the important thing is that we agreed to make five year plans. These were not investment plans - they were life plans and now we approach our sixth (and maybe final) sixth plan. We have had our ups and downs, but it is fair to say that over all the periods, there has only been one in which our financial goals had not been met, and that was the last one. For the first four, we had exceeded those plans by such a broad margin that the fifth was our first serious plan for “stretch target”.
Anyway, I could write for Britain on this subject, but here are some relative figures that we agreed upon in the first plan, and have never waivered from these figures.
1 Your Principal Private Residence (your home or PPR) is a long term liability, not an asset. Maintain borrowing on the PPR at around 75% and use the continuously increasing fiat currency to invest in longer term assets that should not depreciate in value
2 Hold 10% of assets in gold and sliver (not ETFs, physical bullion). Actual figure started at 5% when we were young, and now ranges from 10% to 20% as we get much older.
3 Never spend more than 5% of asset on cars. They are fully depreciating assets. Prefer to pay cash, but if necessary, take a bank loan and ensure the car is always worth more than the residual loan.
4 Budget for spending in categories of mandatory, discretionary, charitable causes, taxes and savings / investment, in that order. This is counter-intuitive. For five years, our discretionary spending consisted of holidays and gold accumulation, which we were both happy to sign off on.
5 Do not invest in bonds or public stock (shares), prefer investing in own business or other small businesses.
There have been large variations in allocations over the years but this has served us very well. It helped a lot that our gross income (salaried OR self employed) has always been far greater than our mandatory living costs, but if other people find this impossible, there are always choices to make. For example, even though 3 family cars amount to less than 2.5% of wealth, I refuse to double the spend in cars. The only two times we bought new cars was for my wife, and being self employed in the UK, the commuting mileage to and from client premises has over the years paid for both my wife’s and my car costs as expense deductibles before income or corporation tax. Had we not had the benefit of this “cost offset” I would never have taken a lease on her car.
I hope this is of help. It took us 20 years to confirm that it was a good plan. Be patient.
By the way, crypto started off as 1% of wealth, we agreed after six months to move it to 3% of wealth, and at peak it was 12% of our wealth, the extra 9% being capital gain. So after the 50% market drop it is now 6% of wealth. That explains why we have managed this recent downturn. The trading element will not be started until I take it through a full backtest, but will then support both crypto and gold/silver in terms of risk mitigation for our existing holdings. I guess you could say it took me over 20 years (and about 28,000 hours of IT and management consulting) to realize that long term investment and trading (short term risk management) are two elements of the same goal. To maximize wealth opportunities with an acceptable risk profile.