State pension is enough
Put simply it’s not! Can you live off £140 per week? Most people would struggle, particularly with rising food and heating costs. What’s more, the state pension is no more than an elaborate Ponzi scheme. Many people wrongly conclude that the money we are paying into national insurance is creating a state pension fund for future years. In fact the money goes directly to people who are already retired, none of it is put aside for future years. This system in its current form is unsustainable as we are an aging population and there will not be enough working people to support an ever increasing number of retirees, causing a pension crisis.
I need to set my kids up first
Get your priorities straight, your children can borrow from the government, work to fund university and pay it back over their working lives. No one will lend to someone retired living on the breadline. Lead by example, develop a property portfolio that will not only provide for you, but will also set up future generations and help prevent the pension crisis.
It’s too late to do anything
Of all the choices you have, doing nothing is the worst option. Yes you may have to make some big decisions and take action but the alternative is not worth thinking about. At Rescue my Pension we are helping clients at all different stages of life to help you get out of the pension crisis. The fact that property is giving such generous rental yields at the moment means that you may be able to produce income from day one.
It’s too early to do anything
The sooner you start the more options you will have and the better your life will be financially. The biggest regret that all property investors have is “I wish I had started early” Property investment rewards the long term investor.
I don’t know where to start
Although it can be intimidating, the planning phase can be easy and hugely rewarding. Having a plan that will allow you to retire in a strong financial position will lift a huge weight off your shoulders. First start with a goal, the age you want to retire, and the amount you want to earn each year. Having a clear target with a timeframe will instantly put you ahead of most people. The next step is to sit down with a professional. If property investment is your asset of choice then book a phone call with one of our asset managers and sign up to our free property education emails below.