£100k Inheritance

[kevinjohnsonmbe]

Coke and whores scores high on the "in your dreams" scale, but in reality:

 

 

Edited January 21, 2018 by kevinjohnsonmbe

[Stephen Blair]

Pension investment has significant tax benefits....

Until you want the money, then you pay all that tax back!

[openspaceman]

2 hours ago, Stephen Blair said:

 

Until you want the money, then you pay all that tax back!

 

Only if your drawdown exceeds your tax threshold and that extra 20% can be working for you till then.

[Stephen Blair]

With my PP I’d need to live to about 180 before it’s worthwhile leaving the pot full!
I’m drawing the lot and paying the tax at 55.

[djbobbins]

+1 for buying shares via an ISA. My average return over the last 9 years has been about 8% although to be fair I have had some stinkers (lost all the money I put into Carillion, for example).

Before my previous fixed rate mortgage came to an end, that was costing me 5.19% so we tried to regularly chip away at that too - the early repayment charges put me off doing it in a big chunk though.

I thought that with the tax treatment on rental income, buy to let wasn't so attractive now?

[spudulike]

In investment, compound interest is your friend, sounds technical but it isn't.

Basically you invest and pay all the profits back in to the investment by purchasing more shares...sounds technical, it isn't as the fund company does it for you.

So....you now have the increase value in the fund shares AND the dividends they pay out being reinvested hence where the name "compound" comes from as it brings the two together. Now just imagine if you introduce a few lump sums or regular savings - you may really get motoring then!

If you are 20-30 and haven't given investment or pensions a thought....then do it now as every year you leave it is another rung you will have to climb later......damn, I am beginning to sound like Martin Lewis

This thread is a good reminder to look after the pennies........

[wicklamulla]

cud pay the mortgage off i suppose but a Toyota Land Cruiser Pickup,  Vincent Rapide or a  1983/4  YPVS 350 would be hard to ignore...

[kimtree]

On 1/21/2018 at 17:53, spudulike said:

Someone I know had drug dealers in his buy to let, the police raided it causing thousands in damage and took months to fix as it was declared a crime scene.....just saying!!

Some are lucky and their tenants are nice!

yes it does help to have good tenants.I had an investment property for 11 years rented to a gov dept .The first tenants were great and the last were dogs whose kids applied 'art' to just about every surface there was. The rent coming in was positively geared  from day one  and i managed to sell it for more than double what i paid initially.

However was very happy to be out of it as it was becoming a maintenance headache  

[donnk]

On 21/01/2018 at 09:53, spudulike said:

Someone I know had drug dealers in his buy to let, the police raided it causing thousands in damage and took months to fix as it was declared a crime scene.....just saying!!

Some are lucky and their tenants are nice!

thats why you have tenants referenced. Then you get rental guarantee insurance so you get paid no matter what.

[Stephen Blair]

thats why you have tenants referenced. Then you get rental guarantee insurance so you get paid no matter what.

If only it was that easy! All my tenants had references and guarantors .
The law is sided to the tenant, they know how to exactly do things, they just get the property struck off without you knowing. 2 of my properties were run down over a period of time. I knew nothing about until we were contacted be neighbours to say they had left.
Disconnected extractor fans in the bathroom, piles of wet clothes stacked against a wall, tumble dryer vent moved and pointed into a back porch to create dampness!
All this to get moved up the ladder on social housing, they had just built new houses in our town!
When I brought a team in to sort it all out, they did in in minutes! There was no long lasting damp, just surface that was sorted with a squirt of bleach and open the windows!
I got the black list lifted with 1 phone call, they didn’t even come out and check they buckled when I questioned the credentials of who came out and condemned my houses.
By then you are down rent, lock smiths and don’t forget council tax as they have had it down as free to them so they can decorate!
When I called to claim it as I was re vamping the whole properties I couldn’t as it had been used, tenant just gives a post code that’s not chased up, Landlord needs to have a meeting with a council worker.
The lady on the phone told me it’s just not fare on the Landlords!
Don’t forget the stress it causes and lawyers letters which are a waste of time because if you do win in court, they can pay you back £10 a week! Lawyer said don’t waste anymore money!
Only saving grace I had is I managed to blacklist them due to unpaid rent! Neither of them asked for their deposit back, which to me is an obvious sign of them in the wrong!
1 even had the cheek to call me asking to remove the blacklist, I said give me my £1500 and I will, she went into a rage saying I had my chance and never took it! Scumballs!!!