jonthefox Posted 20 October 2012 Posted 20 October 2012 heres a tip... live for today And wake up skint tomorrow. A bit of planning is always good.
jonthefox Posted 20 October 2012 Posted 20 October 2012 Buy to lets aren't the guaranteed passive cash cow some people think they are. They can work well of course, if you know what you are doing in terms of buying properties and you have done the numbers and you get good reliable tenants. But even then, in the absence of a property price boom any time soon, the return is likely to be pretty meagre considering the risk. You can get better returns elsewhere with less risk. Mainly I was referring to Tommy G's idea to not have any kind of pension provision and instead bet your entire retirement (if you can call looking after a property portfolio a retirement) on buy to lets. That would be foolish, in my opinion. I agree with what your saying, but a buy to let in addition to a pension would be a wise choice in my opinion. When i was younger, i was always told to look after the three p's. Pension, property and private investment.
MooseBreath Posted 20 October 2012 Posted 20 October 2012 I'm bearish on property in general. I think it is still very overvalued. Seems to me the whole thing is propped up by lack of supply caused by prohibitive building and planning regulations. With the government under pressure to improve the economy, they must improve the construction industry, and that might mean freeing the house building market up a bit which will increase the supply and lower prices in the medium term.
MooseBreath Posted 20 October 2012 Posted 20 October 2012 heres a tip... live for today The hours you spend learning how to make your money work for you, will be the most well paid hours you ever work. Cover all bases... Pension, self select S&S ISA and Cash ISA. Plus when most of my mortgage is paid off I might look in to a buy to let. So far the S&S ISA has yielded a 50% return on my investment over a the last year. (cheers barclays shares). You'll be the richest man in Babylon if you keep that up
Jon the Hat Posted 20 October 2012 Posted 20 October 2012 You would be an idiot not to sign up for a pension scheme where your employer matches your contribution. You are starting with 100% return from day one. Best investment you will ever get.
Babylon Posted 20 October 2012 Posted 20 October 2012 The hours you spend learning how to make your money work for you, will be the most well paid hours you ever work. You'll be the richest man in Babylon if you keep that up More luck than judgement though, so it won't last I fear. I just buy on bad news, sounds silly but has worked well so far. Bought Barcleys, Santander and Barrett & Dev when they plummeted and have done ok on their rise. Bought a few grands worth at the foot of the crash and sold them a couple of years ago when I wanted to buy a house (ended up falling through). If I'd not sold them I'd be sitting on a few hundred k's worth now easily. Sickening!!! One was a 3p mining share punt and I had thousands as you could imagine, they got taken over a few times since then and the new shares sit on about $15.
ozleicester Posted 20 October 2012 Posted 20 October 2012 In 30 years...all the baby boomers will start dropping off the perch, all of those that own 3,4,5 properties will be having them put on the market, there will be an oversupply of property. No one mentions enjoying your life in these financial discussions.... just talk of accumulation..of getting more. There is also a chance you wont be around to enjoy all of your "work". Live, Love, Laugh... these are the BEST investments you will ever make.
davieG Posted 20 October 2012 Posted 20 October 2012 In 30 years...all the baby boomers will start dropping off the perch, all of those that own 3,4,5 properties will be having them put on the market, there will be an oversupply of property. No one mentions enjoying your life in these financial discussions.... just talk of accumulation..of getting more. There is also a chance you wont be around to enjoy all of your "work". Live, Love, Laugh... these are the BEST investments you will ever make. You ought to be imprisoned for endangering your own life
Babylon Posted 20 October 2012 Posted 20 October 2012 No one mentions enjoying your life in these financial discussions.... just talk of accumulation..of getting more. Because this is a thread on Pensions and other bits, not a how to enjoy your life. I enjoy my life very much, saving money as a youngster (whilst also having a life) means at the age of 33 I could comfortably pay my mortgage off before I'm 40, and go part time for the rest of my life should I wish. It means the money I have in the bank and the investments I have made pay for some nice holidays and anything I want to buy. There is also a chance you wont be around to enjoy all of your "work". There is also a chance I will be around until I am 99. Should that happen I want to be prepared so that I can spend my relaxing or seeing and doing different things. Not eating bread and dripping wondering how I can put on the heating come winter. A balance needs to be found. Some penny pincher refusing to do anything so they can save for a retirement they may never see is as silly as someone thinking sod it just enjoy life and I'll cross the old age bridge when it happens.
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