When you die your insurer keeps your pension pot, so why have one?

ds1980

dunstonh wrote: »

So, the insurance is paying you an income to make up for the lost rent?



lucky for the ones unaffected. Not so lucky for those that were.

Yes of course. im lucky i have landlords policy probably a few that dont!!!!!! Plus there are still people living there win win me thinks! he he

dunstonh

Well, there you go. You sound like you are running yours like a business. Exactly as it should be. However, how many single property landlords that have jumped on the media driven "property always makes money" bandwaggon have that rental income insured?

Conrad

Dunstohn, I agree buying further UK property NOW is not sensible!

I'm awaiting the repossessions now which will surely come on the back of lenders tightening criteria and hence removing a large chunk of the money supply. Furthermore the vast subprime sector has featured rate increases of 2 and 3% recently AND DESPITE WHAT THE BOE MAY DO. Money markets are demanding much higher returns, ergo much higher rates.

The second charge market which is popular with sub prime borrowers (only they would reasonably pay the much higher rates typical) has all but dried up as investors ahve no appetite to provide funds.

So yes property can be risky but no where near as opaque and twitchy as equity markets.

I want my kids to benefit from my assets and thier generations after.
You want to leave yours to an Insurance co that's just fine with me!

MarkyMarkD

ds1980 wrote: »

ways and means my friend ways and means!

What, an investment strategy based on mortage fraud?

MarkyMarkD

ds1980 wrote: »

Yes of course. im lucky i have landlords policy probably a few that dont!!!!!! Plus there are still people living there win win me thinks! he he

What? And a bit of insurance fraud to go with the mortgage fraud?

ds1980 is either very stupid or a troll.

dzug

Does'nt alter the fact you WILL DIE AND YOUR PENSION ENDS THERE, all your sacrifices gone in a puff o smoke whereas the sensible investor will leave a portfolio of property / unit trusts ect to thier family whcih can trickle down through generations.

That does assume he doesn't live to a ripe old age and has to sell it all off to maintain a standard of living or pay care fees.


PS - I do have a pension as does my wife, but we of course recognise they are merely icing on the cake and no replacement for the independance of ones own assets

No - the pension is the cake (or the bread even) - the other assets are the icing

It really is a gamble either way - having both is the ideal (and I admit to having both) - but given the choice I'd have the pension first and the others if I could afford them on top.

dzug

Fen1 wrote: »

OK, this question is probably completely unanswerable and tenuously linked to this threat. An earlier writer said something about your beneficiaries getting your pension when you die before you retire. My grandfather died 2 weeks before he retired (he was a state teacher), but my grandmother was left penniless. This was back in the 1970's. WHen did the rules change?

He would presumably have been in the Teachers Superannuation Scheme which has been revamped several times over the years.

In the early years there was no provision for a widows pension. When it came in it was optional for existing staff as to whether they wanted to contribute or not - so it is possible your grandfather opted out, and stayed opted out. Thus no benefits.

Sorry not much idea on dates - late 1940s for the introduction of the widows scheme I would guess.

ds1980

ways and means is not fraud, there are hundreds of people who use inept laws to get off things etc, example: do you know the infamous solicitor who gets celebs off speeding fines, did they break the law of course they did! did they get off of course they did! People whom use an efficient accountant to stop them from paying tax!!! Are they committing fraud??? If your stupid enough not to play the game then your even more stupid than me. I have never done anything illegal in my life...........honest!

trickytrolleys

its was me that said i dont intend to take my PP, just to clarify i will take it if im still alive at 74 but other than that I dont intend to.

Maybe the rules will change AGAIN but at the mo its a nice little pot :beer: