Pension advise please

Tuono said:
A mate invested in a Metals (gold) prospecting company 4 years ago and his investment has tripled in that time.
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It’s great when that comes off, but are people prepared to risk a lifetimes investment that will never come again?
I’ve a mate who insists that gold is going to increase considerably in the near future.
 


Gold is still too iffy according to a local sort here, although it's creeping up after some considerable pressure. So's real estate but a bit less so apparently. He seems to be doing ok but I wouldn't trust him near my daughter if I had one. Fuck it - it stays in the mattress.
 
42 said:
BTL isn't the cash cow it used to be. Only takes 1 bad tenant to cost you a small fortune in legal fees & refurbs.
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Has it ever been any different? If the house is decent and you vet tenants properly you can minimise the risk greatly. The demand for quality buy to lets is much higher than it was a few years ago. Cheap houses and dss has never appealed to me though.
 
Black Dog said:
Yes I have checked it is possible if you scheme allows.

www.gov.uk

Personal pensions

Personal pensions, stakeholder pensions, SIPPs
www.gov.uk www.gov.uk

Watch out for being pushed into 40% tax.
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That happened to me last year,paid £5'000 tax on a pension worth £28'000 then tax man came along and said you are in the higher tax bracket so we want some more tax of you.finish work first weekend in May so all other pensions are are on hold till then.
 
My private pension is currently "Current Investment", rather than "Low/Medium/High Risk" - can someone explain the pro's and cons of this please, and if it's worth looking at changing? Thanks
 
TheWanderer said:
But the fact remains, you’re going from 25% equity to 100% equity over that period of time. Unless the property drops by 75% in value, which is highly unlikely, and you’ve basically used other people’s money to achieve it.

If the property price doesn’t change, given the flat I mention above it’s the equivalent of investing £13,000 and getting 19% interest over 6 years and ending up with £40,000. What other investment would get you that?
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try it mate.

its shit.
 
Select coaches said:
Has it ever been any different? If the house is decent and you vet tenants properly you can minimise the risk greatly. The demand for quality buy to lets is much higher than it was a few years ago. Cheap houses and dss has never appealed to me though.
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Taxes are now higher
 
SPUFF said:
try it mate.

its shit.
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I have, and still do!

And it’s had its moments, but most things in life that are worth it in the end are a bit hard work.
42 said:
BTL isn't the cash cow it used to be. Only takes 1 bad tenant to cost you a small fortune in legal fees & refurbs.
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Very easy to protect yourself against that, plenty insurance for rent guarantees and will cover legal expenses.
 
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TheWanderer said:
I have, and still do!

And it’s had its moments, but most things in life that are worth it in the end are a bit hard work.

Very easy to protect yourself against that, plenty insurance for rent guarantees and will cover legal expenses.
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Fair play mate. Ive hated every minute tbh. Took 15 year to find a decent honest tennant n values done nowt in that era.
 
The Breen Machine said:
My private pension is currently "Current Investment", rather than "Low/Medium/High Risk" - can someone explain the pro's and cons of this please, and if it's worth looking at changing? Thanks
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Give me a PM mate and I can take a look.
 
arthursboy said:
It’s great when that comes off, but are people prepared to risk a lifetimes investment that will never come again?
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for every winner theres a couple of loosers
Desire Petroleum thread on here springs to mind straightaway
AndrewP said:
14 years isn't a lot for pensions, unless you paid in a high percentage of your salary.
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its still better than nowt mate, people should rarely ever think its too late to start paying into a pension of some sort
 
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Fletch said:
for every winner theres a couple of loosers
Desire Petroleum thread on here springs to mind straightaway

its still better than nowt mate, people should rarely ever think its too late to start paying into a pension of some sort
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I've just started a new one....hoping to get at least 10 years out of it and have increased my contributions off the bat.

Got one decent pension under my belt 12years....
 
Was talking to a bloke on train last week who recomends building a pot of about 800 grand if possible.:eek:

Should have started when I was about 3.
 

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