old age

[widler]

true, its all my fault

 

[Wishiwasatoptiler]

I got a pension statement through the post this week from a job years ago. Probably stuck it for six months. It's worth £4 a year...! Cost them 63p to tell me that! Lol.

 

[Doggit]

Now don't go blaming Craig for our politicians stupidity. Blair let in loads of migrants, Cameron started the Help to Buy, and then Osborne let people get at their pensions to reinvest, and to spend them - which helpd expand the economy. But in the end, successive governments haven't increased housebuilding, so supply and demand has caused the real problem.

 

[John Benton]

I was asked at 18 if you want a lump sum when you retire at 65 of say £150k then get yourself a pension. Turn that on its head, someone gives you a wad of £150k and says go in the bookies and place a bet that you'll reach your 65th birthday, what would you have done? Exactly!!!

When I bought my first house a friend had bought one opposite only 1 year prior and I paid £10k more than he had, and mine only cost £26k. So, I thought long and hard back in the late 80's, bricks and mortar will, long term, be a winner.

So 27 years later I own 19 houses, still owing small mortgages on 3 of them. In 5 years time thats me done, all paid up and should be able to rake in between £80-90k a year in rent and not even have to tile a splash back again.

 

[widler]

Good man john, wish id of started earlier but i liked weeing it up against the wall to much in my younger years

 

[John Benton]

Good man john, wish id of started earlier but i liked weeing it up against the wall to much in my younger years

So do I Craig, but that's hindsight for you, I've actually got 1 rental but should've done it years ago and had a portfolio of properties that could have seen me retired this year. I bitterly regret not doing this as I had the chance not to have to sell my first house to buy my second, so it all went downhill from there.

A friend of mine did exactly that and he has 32 properties averaging £500 pcm and he got them on 10 year mortgages, so he's already raking in £190k a year on top of owning a profitable business that turns over £7m a year!!

 

[Rizzle from the Portizzle]

well depends were you live today in london forget it its to late for tilers to buy in but the likes of Dover gillanham graves end still good margins up the other end Bradford derby wigan still offer great returns
look out for hmo will double your return

 

[Flintstone]

I have been paying into a private pension for about 5 years. I'm 32. I don't pay a lot in at all really. Less than a days wage per month. I started it to get the ball rolling, not sure what to do for the best really. I wouldn't mind buy if another property but it's finding the deposit!