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Age 38, very little retirement savings, but want to retire early
Comments
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gadgetmind wrote: »I've twice paid off a mortgage early, the 1st time after it had only been running 7 years, and I then took out a ten year mortgage a bit later as we upsized, and I also paid this off early.
The 1st time it made financial sense, but the 2nd time it really didn't. I did it anyway as these things are always a head/heart balance.
As for ISAs versus pensions versus BTL, pensions make massive sense if you avoid higher rate tax and/or get company contributions, ISAs are a key way to bridge the gap between retiring and state/other pensions kicking in, and BTL is OK if you then still have loads of money left over and don't have the skills to do anything else with it.
Interesting is that BTL doesn't need loads of money and, it has provided many investors with far more free money than the typical DC pension and with far less cost and contribution. Correctly managed, one can also escape capital gains tax on a disposal. And lets not forget the benefit of remortgaging. As for investment skill, most of what is written here essentially confirms herd mentality. Which is a pity, because successful investing is not that difficult if you use logic and have the confidence to implement it.0 -
Interesting is that BTL doesn't need loads of money and, it has provided many investors with far more free money than the typical DC pension
"Many" yes, "most" perhaps not.As for investment skill, most of what is written here essentially confirms herd mentality. Which is a pity, because successful investing is not that difficult if you use logic and have the confidence to implement it.
Please explain exactly what you mean as that statement is extremely vague as it stands.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »"Many" yes, "most" perhaps not.
Please explain exactly what you mean as that statement is extremely vague as it stands.
Just re read my posts, the basics are there.0 -
Just re read my posts, the basics are there.
I've read several good books on property investing, investing in ISAs and pensions, and a variety of other related subjects. My final decision was that property investing was far too much like hard work.
However, I wish those prepared to put in this work, and take these highly-geared positions on the property market, nothing but the best.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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