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Truth about property BBC / Apartment to fund retirement doesn't add up...!
carljones
Posts: 3 Newbie
There was a programme on a few years back on the BBC called "The truth about property" where Jenny Scott gave an example to a lady who bought an apartment in London which she hoped would fund her retirement.
Jenny showed in a very simple way with bundles of cash that with interest, inflation, capital gains tax and repairs that the reality of it was that you'd be no better off than if you kept your money in a bank (bear in mind that was in the days when you got a decent rate for savings!!!).
I can't for the life of me remember how it all broke down, does anyone know?
Thanks in advance
Jenny showed in a very simple way with bundles of cash that with interest, inflation, capital gains tax and repairs that the reality of it was that you'd be no better off than if you kept your money in a bank (bear in mind that was in the days when you got a decent rate for savings!!!).
I can't for the life of me remember how it all broke down, does anyone know?
Thanks in advance
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