The last few years has been tough for people like me. Savings have been savaged by a global melt down. Property prices down and employment prospects have disappeared. I've watched my former colleagues in the public sector who's lives seemed to be totally unaffected by the worst economic melt down since the great depression. Their view was "what down turn"?
The economic chickens are now coming home to roost and the reality has started to bite. Redundancies, pay freezes and now pensions. I've spoken before about property pensions. This weeks developments and the Pension Bill which went before the Commons on Monday proves what I've been saying for some time.
Whether you are in the public or private sectors the demographic time bomb remains hidden and unaddressed. If you really don't want to have to work til you're 90. Time to consider a property pension.
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What a great thought, ideal,BUT,any plan considered by ANY government is unlikely to succeed because it is going to cost the government MONEY in tax advantages,just think of the tax free benefits of the plan as envisaged by Property Hawk,this will not come to be simply because its too good to be true and like all schemes if its too good to be true then thats what it is,more thought needed before anything like this is accepted by ANY government of whatever colour,Sorry.
ReplyDeleteMel Hiley
West Sussex.
You are right Mel any pension policy will cost. At least having a property pension put you in charge a little bit more of your own destiny!
ReplyDeleteMy only problem is: Should I sell Half my portfolio when I reach retirement age thus clearing all the debts leaving me with an income 2 - 3 times what any pension would have given me, or do I keep them all, pay 40% tax on my Pensionable income and leave it all to the kids to sort out when I eventually pop off?
ReplyDeleteAnonymous,this is the problem,leaving the kids to sort it out and pay 40%,consider Australia or Italy, no inheritance tax there !! Biu I bet there is another sort of tax though,its a bit of a lose lose situation this tax stuff.
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