Some Less Than Cheery Pension Stuff:
Pension property investment is a minefield. http://www.bbc.co.uk/news/business-41200686 Around half of new build retirement homes sold during a 10-year period were later re-sold at a loss, according to exclusive research for the BBC. Age.UK have been accused of overcharging by as much as 600% for home insurance. And, for doing a sweetheart deal with E.on. It seems older people are fair game.
Equity Release
http://www.ageuk.org.uk/money-matters/income-and-tax/equity-release/equity-release-types-of-plan/
Thanks to Age.uk for the two types. But if you are going to raise money against your property, you could get a return on the lump sum. An income that far exceeds the cost of a secured loan. Example- £50,000 over 10 years at 4%, £505 a month roughly. Generating a modest and achievable 2% a month with options would repay the loan plus an income of around £500 a month. Plus you get to keep the capital. This is not advice to borrow money in order to trade. It is simply another way of looking at things,when asset rich and cash poor.
Old Means Stupid, Gullible and Fair Game for Fraudsters
Boiler room scams ( look it up!) tend to be aimed at people who already have a share portfolio. Nothing shouts ‘mug’ better than a few popular shares. A certain generation were eligible for free or cut price shares in the 80s. Many of those made money, by default often! QE then ensured the stockmarket got lucky. People have tended to confuse dumb luck with intelligent investing. Shares can be great, but you need a plan. You also need a massive dose of skepticism. Don’t hang on to them just because you like them, make your money work smarter . A new high is a buy signal to the dumb money. Smart money knows there will be a drop. Always has been. And so………
