Retirement income from property?

misskool

julieq wrote: »

It's the same with a lot of things, cost of entry is reducing, so competition is increasing. Unless you have a really unique product you're competing on price and nothing else. Superb for consumers, but traditional shops can end up high and dry very quickly, and the high streets are starting to look a bit Shane MacGowan ish these days.

I very rarely go past Amazon and Ebay for anything I buy these days, the difference between now and 12 months ago is that almost everyone I know is doing something similar.

The internet also works well for those who work long hours and commute. I don't have time to "pop" to the shops and I would rather spend my weekends not being crushed by crowds. So I shop when I have time (at night) when the shops are shut.

The only problem is guessing shoe and dress sizes!

lostinrates

julieq wrote: »

It's the same with a lot of things, cost of entry is reducing, so competition is increasing. Unless you have a really unique product you're competing on price and nothing else. Superb for consumers, but traditional shops can end up high and dry very quickly, and the high streets are starting to look a bit Shane MacGowan ish these days.

I very rarely go past Amazon and Ebay for anything I buy these days, the difference between now and 12 months ago is that almost everyone I know is doing something similar.

I agree entirely. I'd still say good, knowledgeable service remains valuable on line though.

I do buy on the high street and direct from some makers of things. Mainly for the service and community value: but how sustainable this is I wonder. Books, particularly second hand books, are a dramatic advantage of the internet and have seriously improved my life: rather than always buying new knowing the chances of happening across used copies of obscure thngs locally were slim, there is now the possibilty of keeping a wish list if its not immeadiately available used. Local book sellers are forced through the same routes: the only advantage is their personal knowledge of what I might like to make recommendations. A more accurate version of ''buyers who bought this also bought....''

julieq

Oddly enough I collect books (illustrated books, and also prints). There was a golden age online about 8 years ago where the most wonderful things turned up on Abebooks and you had the entire run of them without competition, the bigger dealers like Maggs and Quaritch so on didn't really look there. It's much more difficult now, even the Antiques Roadshow are namechecking Ebay.

Anyway, sorry DD, looks like the awkward squad have vetoed your shop idea. You may like to put us all on ignore or something?

misskool

lostinrates wrote: »

I agree entirely. I'd still say good, knowledgeable service remains valuable on line though.

I do buy on the high street and direct from some makers of things. Mainly for the service and community value: but how sustainable this is I wonder. Books, particularly second hand books, are a dramatic advantage of the internet and have seriously improved my life: rather than always buying new knowing the chances of happening across used copies of obscure thngs locally were slim, there is now the possibilty of keeping a wish list if its not immeadiately available used. Local book sellers are forced through the same routes: the only advantage is their personal knowledge of what I might like to make recommendations. A more accurate version of ''buyers who bought this also bought....''

The high street of the town I live in (commuter-ville) is absolutely dead, shops are closing by the week and the only one that has expanded is the beauty therapist (you can't replicate a massage and a pedicure over the internet).

In my mind, the value of service can only be afforded to those who have the time. If I haven't even got time to go to the shops, then I won't be able to miss the service when it's gone. sad but true.

lostinrates

julieq wrote: »

Oddly enough I collect books (illustrated books, and also prints). There was a golden age online about 8 years ago where the most wonderful things turned up on Abebooks and you had the entire run of them without competition, the bigger dealers like Maggs and Quaritch so on didn't really look there. It's much more difficult now, even the Antiques Roadshow are namechecking Ebay.
?

What a great thing to collect. I don't collect any type of book, and I'm afraid I prefer the words of the book to the actual physical obect. I'd rather havea few tatty paperback different books than beautiful first edition of one. I have a few signed first editions that will never be worth too much, nature of the books. DH has quite a few themed first editions. I think if money were no object I really could get into book collection.

misskool, we are lucky, our local highstreets are alive, just, and lots of independants. Further afeild I see the changes, and they are creeping closer.

SingleSue

Ah books...I love them and had a quite admirable collection of them, 1st editions included.

Alas to keep the heating on, the bills paid or to get school uniform, they have now all been sold. Any books I do receive or manage to pick up cheapish, is sold on as soon as they are read but I fully intend to restock once my life is back on track again...broke my heart selling some of those books.

michaels

If debt is cheap surely the last thing you want to do is pay it off quicker.

I don't think debt is cheap in real terms at the moment but it depends what your personal deflator is.

brit1234 wrote: »

The sensible option is to pay off the mortgage as fast as possible while rates are low. It is the best and most efficient investment for your future by a mile.

On topic I am concerned with pensions (and too a lesser extent ISAs) that the rules can be changed almost retrospectively (in that after you have locked up the money you can not do something different with it if the pension wrapper suddenly becomes less attractive). I would not be surprised if the 25% lump sum in future becomes subject to at least higher rate tax. Also annuity rules can be tweaked for example insisting on funds being invested in assets that you would not otherwise choose.

Rule changes high up the income scale are already reducing the attractiveness of paying in to a pension (double taxation anyone) and these may get worse. Currently to a large extent you can have your cake and eat ti as you can always take the money now, isa it and then if you later decide you want it in the pension you can simply live off your isa money for a few years and put all your salary in to the pension but who knows if this will continue to be the case. Generally given the state of public finances it is likely that all changes are likely to be for the worse.

Where else to put the money? I guess the options are spread funds over lots of asset classes looking to be as tax efficient as possible and end up with steady low risk returns or take a view on the market with the potential to win big or end up investigating the state pension

Final thought - it is a much better time to invest in property or stocks than it was two years ago...:rotfl:

StevieJ

julieq wrote: »

Shops into a retail contraction when the world and his wife has at last figured out they can buy it cheaper online? It's nicely contrarian, I have to give you that, and maybe Napoleon was right after all.

A little like Cinema when videos hit the streets, it was finished, never quite works out as you expect.

dopester

SingleSue wrote: »

Ah books...I love them and had a quite admirable collection of them, 1st editions included.

Alas to keep the heating on, the bills paid or to get school uniform, they have now all been sold. Any books I do receive or manage to pick up cheapish, is sold on as soon as they are read but I fully intend to restock once my life is back on track again...broke my heart selling some of those books.

Deflation in action. Expect it to come for most other items of value, including antiques.

People bringing stuff to market to raise money, in an environment where money is much tighter. Accepting lower prices from the market, which lowers the market-value for all owners of all similar items.

That doesn't apply as much to luxury items and luxury end retailers, even in a depression. Some great opportunities still exist there for nimble savvy operators.

misskool

michaels wrote: »

If debt is cheap surely the last thing you want to do is pay it off quicker.

I don't think debt is cheap in real terms at the moment but it depends what your personal deflator is.

Debt (in terms of living expenses), especially for those not on fixed mortgages is much cheaper now than it has been in a while.

The cost of goods for day to day living hasn't yet decreased. Food items are still much more expensive now than they have been and probably won't be that low again.

On a final note, I agree it's a good time to invest in stock and property if you find the right value buys. To make money you have to create the curve not follow behind it.