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Now really is the time you need to ‘think outside the box’ and plan your own retirement route. And in planning your own retirement route you need to think beyond the masses, be contrarian. There are two solutions to the now ‘old problem’ of not having enough of a pension, this is to add more money to a point which continues to be affected by both the Stock Market performance, Quantitative Easing and Annuity Rates. These two solutions are: • Renting out your driveway or a room • Working for Yourself But in your later years do you really want to be sharing your home with someone else or indeed your driveway? And working for yourself for infinitum to bring in an income to help you live makes you simply one of the 1 in 10 who are never planning to retire because they can’t afford it. Don’t you deserve better than that and choices? The idea of renting out your driveway points towards the right direction, but stops short of providing a highly valuable solution. You need to act more boldly and add a house to the equation (and it not be the one you are living in). You need to create your own asset base which can sustain the storms ahead and fill the hole which is going to get bigger and bigger year by year. Holding your own small Buy To Let Portfolio would allow you to do this, by bringing you in an income month on month, forever. Even allowing for voids and maintenance a wisely purchased property will provide you a greater return in retirement and is a solution, which doesn’t die with you. After all rents rise with inflation and supply and demand, and the value of mortgage debt is eroded with inflation. Add to this the opportunity for capital growth long term, your tenants paying your mortgage for you and being able to offset many expenses against tax and you see it really is a ‘win win solution’, if you do your due diligence. But the masses are too nervous to invest in property because of the marketing hype we see in the press, the speculation of house prices dropping again and the mistakes that people made in the boom years. But if you buy a house having done your due diligence and it puts money in your pocket each month, does it matter if the house prices drop slightly in 6 months – long term they will increase again! Those who suffered at the hands of the ‘Buy To Let’ frenzy before this financial crisis where those who fell for the marketing hype that property can get you rich quick. Let me make it clear now, there is no such thing as a ‘get rich quick scheme’ but long term property investment represents a solution which can without doubt plug your pension shortfall. The other solutions provided in this article play small, and therefore provide a limited answer. Property investment has the ability to play big and provide a true solution. So if you like me are in your 40’s – 50’s age band I would urge you to step outside your comfort zone, do your due diligence, educate yourself to property and purchase for cash flow (after all that is what you life off!). Get your tenant to pay your mortgage and inflation to erode your debt – and plan for the luxury of having the retirement you deserve. You know the one you dream of, and ensure you do not end up living a nightmare. About Alton Property Partners Gill Alton is the founder of Alton Property Partners, which provides a comprehensive and personal Property Portfolio Building Service for buy to let investment in the UK. To find out how property could be the answer to your pension worries, click here Pension Worries - The Facts and a Solution. Alton Property Partners manage the entire investment process, from sourcing property at a discounted value, co-ordinating the Mortgage, arranging the refurbishment, right through to ensuring it is ready for the rental market. Click here to out more about Gill Alton. Invest in Nottingham.
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Pension Shortfall, plug your pension shortfall,
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