Pension or property

[Bloders]

just thinking a bit more about this.
I was going to sayits your money and you pay tax on it once. Either when you take it as salary, or when you take it as pension.
However, with the debt as is, maybe they will reduce this and tax it more, so if you already have it in a pension, that could be a good thing?
The trouble with many things is that the government can (and do) change the rules at relatively short notice, so you can only do your best. I sometimes wounder if i did the wrong thing.
I did not make any pension contributions for a few years, as i was concentrating on paying my mortgage off, and buying a couple of rental properties. I am now ploughing large sums of money into my pension.

A more in depth question, can i take salary sacrifice on more than one pension at the same time? Ive been thinking of opening another pension pot, to spread the risk a little?

 

[puntabrava]

I've a few years which I can do that. Its earning nothing in bank. Cant pay any more off mortgage with out penalty, got a bit saved in isa etc so now got pension as well.

May as well buy some shares in a few of the major pharmaceutical companies.

 

[texelburger]

Bloody rental properties, always something.. tenants central heating pump failed friday evening, cant get my plumber until Monday Legally I don't think I am allowed to wire in a new one without some electrical qualification

We have a couple and experience the same problems too.The return is not brilliant either.On the other hand my brother has invested in student lets which,imo,is far easier.Only short term tenants so no problems about them leaving,far better return than our houses.He has his own maintenance team so no hassle with builders.I think he has about 1,250 now.

 

[Bloders]

We have a couple and experience the same problems too.The return is not brilliant either.On the other hand my brother has invested in student lets which,imo,is far easier.Only short term tenants so no problems about them leaving,far better return than our houses.He has his own maintenance team so no hassle with builders.I think he has about 1,250 now.

he is either MEGA wealthy or has a large debt to accompany it?
A business that size has risks. I imagine this year there will be many who dont pay their student accomodation fees. If the properties are mrotgaged, that could, for many, cause issues.

 

[bobk]

Getting to the age where pension time is not too distant. Have many of you actually got one or like me always had "more important" things to spend money on?

Depends on many factors , do you want to retire ? have you got to retire .

 

[Grassman]

Depends on many factors , do you want to retire ? have you got to retire .

No intention of retiring fully but want to be able to take things easier as time goes on.
No family interest in carrying on farming.

 

[bobk]

No intention of retiring fully but want to be able to take things easier as time goes on.
No family interest in carrying on farming.

Similar here , got the job under control but inheritance is a bit of an issue

 

[Dave6170]

If you are a tenant farmer, I would recommend it as it could be needed if you need to retire early for health or some other reason. Just gives you peace of mind.

I get that part, but renting is a lot of hassle especially in Scotland

 

[hally]

I get that part, but renting is a lot of hassle especially in Scotland

It is in england as well, sadly no such thing as easy money

 

[Lincsman]

Can't think of anything worse than buying a house to rent out.

Well I have done, now getting over £1300/ week from them, makes me very relaxed about actually doing any farming, buy the right ones and get the right tenants and its very easy, not been called to any problems on over half of them in the last year, and the odd bits i have done wont come to £400, the gas and electric Certs are the main cost.

 

[bobk]

Well I have done, now getting over £1300/ week from them, makes me very relaxed about actually doing any farming, buy the right ones and get the right tenants and its very easy, not been called to any problems on over half of them in the last year, and the odd bits i have done wont come to £400, the gas and electric Certs are the main cost.

The right tenants is the important bit imo

 

[Lincsman]

The right tenants is the important bit imo

Very much so, those who decorate and replace all carpets are really good!

 

[Dave6170]

Well I have done, now getting over £1300/ week from them, makes me very relaxed about actually doing any farming, buy the right ones and get the right tenants and its very easy, not been called to any problems on over half of them in the last year, and the odd bits i have done wont come to £400, the gas and electric Certs are the main cost.

Good for you.

 

[goodevans]

We have a couple and experience the same problems too.The return is not brilliant either.On the other hand my brother has invested in student lets which,imo,is far easier.Only short term tenants so no problems about them leaving,far better return than our houses.He has his own maintenance team so no hassle with builders.I think he has about 1,250 now.

1250?,that must be the largest privately owned estate in the country. Would that be 1250 properties or 1250 bedrooms,quite often 6 or 8 to a house

 

[texelburger]

1250?,that must be the largest privately owned estate in the country. Would that be 1250 properties or 1250 bedrooms,quite often 6 or 8 to a house

Yes rooms

 

[texelburger]

Yes rooms

Spread round several university cities.

 

[Tim W]

The right tenants is the important bit imo

And treating them right
Our tenants get a bottle and a pack of steaks when they move in (which is usually enough to leave them speechless)
Sets the scene and we haven't had any problems yet

 

[How much]

The Problem with a pension , or indeed and issa is the government know exactly where it is and what you have , Why would a government allow you to have a tax free ISSA if there was not some advantage to them at some stage ? After all that cash is better off being spent in the economy , not horded away.
I have a very modest pension pot ( will probably just about buy a paper and cup of tea daily ) and an issa but I suspect I would be better off buying some vintage Rolex watches or something that are under the radar from the tax man and that can be cashed at a later date

I cant help but feel someday a government is going to say to those who have saved , "you dont need a state pension as you have a private one or cash in an issa " and we will give your state pension to some one who has spent all there money on tattoos , beer and fags

 

[hendrebc]

The Problem with a pension , or indeed and issa is the government know exactly where it is and what you have , Why would a government allow you to have a tax free ISSA if there was not some advantage to them at some stage ? After all that cash is better off being spent in the economy , not horded away.
I have a very modest pension pot ( will probably just about buy a paper and cup of tea daily ) and an issa but I suspect I would be better off buying some vintage Rolex watches or something that are under the radar from the tax man and that can be cashed at a later date

I cant help but feel someday a government is going to say to those who have saved , "you dont need a state pension as you have a private one or cash in an issa " and we will give your state pension to some one who has spent all there money on tattoos , beer and fags

If that's what you think buy some gold and/or silver bullion.

 

[Grassman]

The Problem with a pension , or indeed and issa is the government know exactly where it is and what you have , Why would a government allow you to have a tax free ISSA if there was not some advantage to them at some stage ? After all that cash is better off being spent in the economy , not horded away.
I have a very modest pension pot ( will probably just about buy a paper and cup of tea daily ) and an issa but I suspect I would be better off buying some vintage Rolex watches or something that are under the radar from the tax man and that can be cashed at a later date

I cant help but feel someday a government is going to say to those who have saved , "you dont need a state pension as you have a private one or cash in an issa " and we will give your state pension to some one who has spent all there money on tattoos , beer and fags

Thats much the same as what happens with retirement homes. Own a house and be careful with money and they want £800 a week. Own nothing and spend all your money fast cars and women and you get in for free