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Author pension - property
AK
Member

Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
1st Sep 06 at 13:35   View User's Profile U2U Member Reply With Quote
Seeing as i have just moved jobs, and started a new pension i have some decions to make.

1: Keep orig pension, dont pay into it, just keep it working away
2: Keep orig pension and make small monthly contributions (ontop of new pension)
3: Move pension fund to new pension scheme
4: Withdraw the cashola and use it as a deposit on some property


huh?

[Edited on 01-09-2006 by AK]
Kerry
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Registered: 5th Oct 01
Location: Norwich
User status: Offline
1st Sep 06 at 13:36   View User's Profile U2U Member Reply With Quote
invest in a BTL and start a new pension
3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
1st Sep 06 at 13:36   View User's Profile U2U Member Reply With Quote
buy the R33 GTR
AK
Member

Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
1st Sep 06 at 13:38   View User's Profile U2U Member Reply With Quote
dont want a 33GTR, blergh.

Kerry - whats a BTL?
AK
Member

Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
1st Sep 06 at 13:39   View User's Profile U2U Member Reply With Quote
buy to let?
Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
1st Sep 06 at 13:40   View User's Profile U2U Member Reply With Quote
Seek advice from people who actually can give you a balanced answer?
Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
1st Sep 06 at 13:42   View User's Profile U2U Member Reply With Quote
buy to let

I'm hoping to win £10k next week so I can go in with you
(I'm being serious)
AK
Member

Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
1st Sep 06 at 13:42   View User's Profile U2U Member Reply With Quote
balanced? balanced on what?

Property makes more money than a bank/shares whatever just now. I know that.

But i'd have to take 'more' risks with the money.
AK
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Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
1st Sep 06 at 13:44   View User's Profile U2U Member Reply With Quote
what you winning 10k on?

i can lend you 10k if you promise to pay me back with ongoing interest
Edd
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Registered: 8th Nov 04
Location: Glasgow
User status: Offline
1st Sep 06 at 13:44   View User's Profile U2U Member Reply With Quote
take cash and invest in a high interest savings account which you would contribute to monthly


then start the new pension scheme

(this covers you incase your old pension scheme goes tits up)

[Edited on 01-09-2006 by Edd]
Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
1st Sep 06 at 13:45   View User's Profile U2U Member Reply With Quote
There's different thoughts around pension schemes around exactly how secure they are aswell. I would consider property personally, suppose it's all risky.
sigibbons
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Registered: 10th Feb 04
User status: Offline
1st Sep 06 at 13:47   View User's Profile U2U Member Reply With Quote
I would start an Index tracker in an ISA wrapper. Tax free for once.
Kerry
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Registered: 5th Oct 01
Location: Norwich
User status: Offline
1st Sep 06 at 13:57   View User's Profile U2U Member Reply With Quote
Buy to let then you have rental income plus a lump sum when you retire along with your pension too
3CorsaMeal
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Registered: 11th Apr 02
User status: Offline
1st Sep 06 at 14:04   View User's Profile U2U Member Reply With Quote
darn i meant R32
WATSON
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Registered: 16th Jun 05
Location: Fife, Scotland
User status: Offline
1st Sep 06 at 15:01   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by AK
4: Withdraw the cashola and use it as a deposit on some property[Edited on 01-09-2006 by AK]


JadeM
Premium Member

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Registered: 9th Feb 06
User status: Offline
1st Sep 06 at 16:53   View Garage View User's Profile U2U Member Reply With Quote
Property will earn you more money than a pension & quicker wont it??

Dont you get a final salary pension type deal with your current company Adam???

If I was in the position of having a few quid to invest into rental property esspecially in the Edinburgh area I would go for it.
ed
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Registered: 10th Sep 03
User status: Offline
1st Sep 06 at 17:51   View User's Profile U2U Member Reply With Quote
Buy the biggest most expensive house you can afford, then spend even more money on it to make it bigger then sell it then do it again, then sell it, then do it again, then sell it then do it again. My parents did that and they should have around £3million for thier pension.
Robbo
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Registered: 6th Aug 02
Location: London
User status: Offline
1st Sep 06 at 19:23   View User's Profile U2U Member Reply With Quote
Keep the pension, change the strategy to a slightly more aggressive (ie risky one) and let it grow

I had £3k in an old SW pension and it has grown thrice-fold with no input all becausde I made it aggressive

 
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