No-one else had a problem understanding my posts mate.... Take some advice from your Uncle Tobes - you can have this for free... A pension pot that pays out about £12k a year, needs to be about £200k at retirement. If you were paying into this pot for say 20 years, you'd have to put in about £500 a month to achieve that size of pot (inc compound interest) So you'd nee to put in about £120k in cash (before tax relief) Alternative - save up £12.5k and buy a 2 bed terrace in the frozen North for £50k, and fund the remainder on a buy to let mortgage over 20 years. Rent £450 - less 10% management fee (no hassle) leaves £405. Minus mortgage costs (£227) = £178 a month net. Don't take any of the excess as profit, leave it to accrue and cover any repairs, vacant periods, damage etc. At the end of the 20 years, you've got an asset that at a modest 4% annual increase in value would be worth £105k Have 2.....and for an investment of £25k in cash and no further input - 20 years later you've got a pension income (at todays rates) of nearly £11k per annum.... And assets (that you could sell if you chose to) that are worth £210k That excludes any profit left in the circa £42k surplus income from each property over the 20 year duration..... Dead easy to make money if you've got money - have 10 - or £125k invested at the outset and you've got a million pound property portfolio 20 years later.....
I have a sipps pension - and you can't buy residential property in a sipps. You can buy commercial property though, and leverage borrowings to fund them from the pension pot itself..... I do have rental residential property though. Got out of it before the last crash in '08 and have now got back in. My aim is to retire at 56 (God willing)
I'm only winding. i am listening. I hope that does go well for you. I know i advised 2/3 guys to sell up before 08 and two did and one didn't. My pension is in effect 19% of my salary before tax but i pay 10% so its good enough but after that I've spread money out over education funds and house funds and an isa plus i have shares too, not much but they go up and down. I'm not a property kind of guy though... I think my best bet is to fake death in service as i would get a huge lump sum to dependants plus annual salary superior to return on pension....
Youll never be worse off as its only on the extra you earn over the threahhold limits. If you go over the limit by £2 you only pay 40% on that £2 not your whole amount.
yup but still... you need to be really rich to avoid tax. look at tobes's new owner. uk.. iran.. nah monaco...
I always thought the saying was bricks and water.... Not bricks and mortar? Isnt mortar a type of weapon?
whats why tobes owns one of those houses you see the ice guys take over in game of thrones. winter is long but once the white walkers go back to sleep he is quids in.
but if you've not this government scheme is ideal to get the deposit together with right... thanks... i was right then.
IDS resigning from the government because of the effects of budget cuts (which are now not happening) on the poor and disabled. I sort of have a vision of Heinrich Himmler leaving the SS in protest at the cruelty to the Jews. ****ing humbug. I remember Kenny Everett doing an ironic warm-up for the Tories in the 80's when he said "Let's take away Michael Foot's stick!" Taking assistance and aid from the elderly and disabled is now policy. Jonathon Swift would be wryly amused.
