Feel sorry for the young folk that can't buy a house because rich pensioners are buying property for a rental income. Then those same younger people pay rent for longer that they should have to - which erodes any ability for them to contribute to their own pensions. There are plenty of other ways to ensure an income in retirement without penalising young folk - who are your own kids and grand kids.
But then people say the state pension is too high. The UK has created a pension system that puts lots of pressure on the housing market but, strangely, nobody talks about that. Silence.
I disagree about the BTL /property but there should be rules on LTV and rental increases and standards if these things exist. Properties aren’t for most and I doubt anyone past 70 has them given the hassle. Net rent is only 3% and capital gain is about 3% net. You don’t sound like you actually been a landlord lord and experienced it, it’s not what people think.
Nice illustration 👍 A few questions if I may... When you say "you/your" are you referring to a retiring individual or a couple? Are the income and outgoing amounts for a individual or totalled up for a couple, i.e. combined living expenses and combined pension/property/etc incomes? You mention paying for a daughters wedding so I suspect you're talking about a couple? How would the illustration change and compare for a individual retiring? They say two can live as cheaply as one, which isn't true but some costs certainly aren't doubled. This is important for me to understand as a married man approaching retirement. Very few illustrations specifically call out the "you/your" marital status or compare and/or contrast a retiring single or couple 😕
It’s only an example really, Mark, and the figures are plucked out of the air. The idea is to do this for your own situation if you can, so you can work out the assets you’ll need to draw from when your earned income slows or stops. Try not to get too hung up on these figures!
So the Financial Advisor plucks figures out of thin air and charges £650 for a course😂🤣😂🤣😂 THERE IS ONLY ONE PERSON GETTING RICH HERE AND ITS NOT THE AUDIENCE
Very good easily explained to understand and starts to make you think about finances. ❤
Crystal clear video Pete... So easy to understand with your commentary and the time line graph.
Much appreciated.
@Donald Gaffney no. Why
My favourite notification, seeing meaningful money flash up on my phone!
Lucidity itself.
There are two year “2022” in your graph.
Yeah, I know - spotted it (and commented) while I was doing the recording. Annoying, really.
Feel sorry for the young folk that can't buy a house because rich pensioners are buying property for a rental income. Then those same younger people pay rent for longer that they should have to - which erodes any ability for them to contribute to their own pensions. There are plenty of other ways to ensure an income in retirement without penalising young folk - who are your own kids and grand kids.
But then people say the state pension is too high.
The UK has created a pension system that puts lots of pressure on the housing market but, strangely, nobody talks about that. Silence.
I disagree about the BTL /property but there should be rules on LTV and rental increases and standards if these things exist. Properties aren’t for most and I doubt anyone past 70 has them given the hassle. Net rent is only 3% and capital gain is about 3% net. You don’t sound like you actually been a landlord lord and experienced it, it’s not what people think.
Nice illustration 👍 A few questions if I may... When you say "you/your" are you referring to a retiring individual or a couple? Are the income and outgoing amounts for a individual or totalled up for a couple, i.e. combined living expenses and combined pension/property/etc incomes? You mention paying for a daughters wedding so I suspect you're talking about a couple? How would the illustration change and compare for a individual retiring? They say two can live as cheaply as one, which isn't true but some costs certainly aren't doubled. This is important for me to understand as a married man approaching retirement. Very few illustrations specifically call out the "you/your" marital status or compare and/or contrast a retiring single or couple 😕
It’s only an example really, Mark, and the figures are plucked out of the air. The idea is to do this for your own situation if you can, so you can work out the assets you’ll need to draw from when your earned income slows or stops. Try not to get too hung up on these figures!
So the Financial Advisor plucks figures out of thin air and charges £650 for a course😂🤣😂🤣😂 THERE IS ONLY ONE PERSON GETTING RICH HERE AND ITS NOT THE AUDIENCE
@@bumblebee9288 Jog on then!
Really BADLY prepared and edited WHY ON EARTH LEAVE IN 2022 REPEATED !!! IF THIS IS HOW YOU PLAN I WOULD STEER WELL CLEAR OF YOUR ADVICE