I am looking for those that are self-employed and do this sort of thing as their main job. What are you doing for a pension beyond the State pensions? That won't kick in for me until I an 67 anyway so I need to seriously get on the ball with some sort of pension or the like but with being self-employed I have really very little clue of what path to take.
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get some land, a few animals and start gardening
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Pah, have you seen the price of animal feed in the UK? Let alone land! lolComment
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Depends what form your business takes. If it's limited like mine, you can setup your own pension and pay a certain amount into it with each wage. It goes down as an company expense of course and it's taxed far less than a standard wage - but you can get your hands on it after just a few years. My memory might not be 100% on that but I'm pretty sure that's the deal!Comment
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I didnt realize self employed got a pension.Comment
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Though, if he meant State pension..you do if you have paid in which I amComment
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Yes Laura Lee you are confused. But hell your a blonde so all is forgiven..
Sorry had to say that.
Sarah. On this one think outside the BOX ( Country ). Right now is NOT the best time to be investing, but there are companies that you can open accounts with that will do it for you. What you may want to do though is for the time being, just sit on the money in a CD at the bank for the next 6 months to a year. Then once things start to improve check with a company like MetLife.. they have programs that you can get into, I think as low as about 2k then you keep adding to them monthly or so, and they invest the money. They usually return 5 to 7% or more depending on the portfolio I think you can gauge the aggressiveness of them. At least you USED to be able to do these accounts.
Anyway that can create a nice nest egg if you out as much in as you can. These accounts as with all are risky. but for the most part because the money is sooooo widly spread you will usually break even at the worst times.. Locally through prudential they have funds still returning 7%.
Just be really careful.PornGuy skype me pornguy_epic
AmateurDough The Hottes Shemales online!
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I'm in the process of setting mine up. I just never got round to it before. Its not huge or anything but by the time I reach 50 (or 60 - haven't decided yet) I get a nice lump sum and a decent amount monthly.
I also am buying a second house here and renting it out to family. If thats successful I'll buy up a couple of small flats as well since the prices in my neighbourhood are pretty damn good right now. You can rent them out for double what the mortgage on them is.Comment
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What would I need a pension for ?
I'll still be working when I'm 100, just like baddog
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I will disagree right there. When it comes to investing, especially long term for retirement as it is time that you want on your side. Even with marginal returns over time you will see big results. Then there is the point that recently and somewhat still (pending another crash) few will ever see the chance to make such gains with assorted funds and companies than ever before.Comment
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A pension in the UK is just a tax wrapper, you can hold any combination of cash or securities within it. So having money within the pension wrapper is no more risky than having it in the bank / Cd etc.
It's a good time to start a monthly contribution savings plan invested into equities, even if the markets tank again in 2009 you will have lost very little as you are so early on in your plan, 30 years or so is a long time.
As well as the pension wrapper though, try to use ISA's they are only marginally less tax efficient and a whole lot more flexible.Comment
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