Preserving a lump sum?

[edstrom76]

If you've considered BTL, have you thought about a multi let e.g. student let? A lot of landlords house four to five students; the going rate in the Midlands is roughly £400/month/head. People make very good money off it and probably maintenance in a student house is a bit more easy going than that of a traditional let. There are waiting lists that students put themselves on and typically houses are booked a year in advance.

 

[flango]

If you've considered BTL, have you thought about a multi let e.g. student let? A lot of landlords house four to five students; the going rate in the Midlands is roughly £400/month/head. People make very good money off it and probably maintenance in a student house is a bit more easy going than that of a traditional let. There are waiting lists that students put themselves on and typically houses are booked a year in advance.

I think that depends on your definition of "Midlands" My daughters Uni flat in Derby is a very modern town centre apartment, 2 bedroom, with all electrical appliances and is <£400 a month total, typical shared student house was around £150/month. So suspect it varies dramatically based on location.

 

[abecketts]

One thing they are not making any more of is land, 60 million acres in britain and we now have more people than acres so that might be worth considering if you don't need the money. A number of folks locally to us are going over to solar farms (not a pretty sight) but we looked at it an a 6 acre field we have spare would give us just under £4k per annum on a 25 year basis and we could still graze the land with sheep but it was a 25 year commitment and as they say returns can go up, down and through the floor.

Paul

 

[baxlin]

A financial advisor is someone who takes your hard earned money and then invests it and re invests it until it is all gone.

May sound like a cynical observation but that is my experience!!!.

In my 43yrs of employment I squirelled away a portion of my income until on my retirement I had a nice lump sum and had a a nice nest egg to see me through retirement. On advice I decided to put my money in a rock solid company that would ensure a steady return.

The company was Equitable Life!!!!!!!!!!.

I don't know who gave you that advice, but Equitable Life banged on that they didn't pay commission to intermediaries, so a good few people went to EL in order to "cut out the middleman".

 

[tombo5609]

I don't know who gave you that advice, but Equitable Life banged on that they didn't pay commission to intermediaries, so a good few people went to EL in order to "cut out the middleman".

Hindsight is 20/20. When i invested in EL in 1995 is was the choice of those in the know with no sign that the 200 year company with a rock solid history would go belly up.

 

[Palfrem]

AHA!

Equitable Life - the oldest mutual company in the world? That Equitable Life?

That's one of the outfits that has coloured my judgement of most things financial.

 

[renault12ts]

I don't know who gave you that advice, but Equitable Life banged on that they didn't pay commission to intermediaries, so a good few people went to EL in order to "cut out the middleman".

The advice was most probably given down the local pub, because as you say no IFA would have recommended them...and indeed some people chose to ignore the warnings from IFAs about EL. So there!!

 

[edstrom76]

I think that depends on your definition of "Midlands" My daughters Uni flat in Derby is a very modern town centre apartment, 2 bedroom, with all electrical appliances and is <£400 a month total, typical shared student house was around £150/month. So suspect it varies dramatically based on location.

I accept I probably need to narrow that statement down a bit - I've been looking at houses located within the "Golden Triangle" in Loughborough (between L'boro Uni and the town centre).

 

[Rory]

I accept I probably need to narrow that statement down a bit - I've been looking at houses located within the "Golden Triangle" in Loughborough (between L'boro Uni and the town centre).

Be careful though as a lot of universities are developing significant property portfolios of their own, often building apartment complexes in conjunction with developers. If you go for property that's specificially dependent on the student market then you're going to be stuffed if demand dries up.

 

[developer]

Student letting is a very specialised market, with it's own share of problems.

I know some that do it very successfully and others that have been bitten badly - experience play a big part, but it can be hard won.

Typically, the easiest BTL is the 3 bed semi to a family model, though the returns are less.

If it were for the longer term and capital growth was the plan, I'd be taking the easier route.

 

[Dieselman]

I accept I probably need to narrow that statement down a bit - I've been looking at houses located within the "Golden Triangle" in Loughborough (between L'boro Uni and the town centre).

Be careful though as a lot of universities are developing significant property portfolios of their own, often building apartment complexes in conjunction with developers. If you go for property that's specificially dependent on the student market then you're going to be stuffed if demand dries up.

I would agree with the above comment. Loughborough University now has a significant property estate and lets in the town are much harder to fill.

 

[baxlin]

and indeed some people chose to ignore the warnings from IFAs about EL. So there!!

Including, alledgedly, at least one well known financial journo.............

 

[stephen coy]

Might retire early next year, after sale of house/completion of 'downsized' property i'm tidying up to move into.

Never made a fortune or lost a fortune basically because I've only invested in fixed rate. Yes, not much on offer now, but 3% still available on 5 year bonds. I'll just spread my cash on 1year/2year bonds etc and leave an income pool in the bank. Not bothered about spending the lot (approx.200k plus pensions at age 65). Kids will still have downsized house and any leftover cash.

 

[Benzowner]

OK investing in whatever, but remember you cannot take it with you, enjoy life while you are fit to do so, days can drag in a nursing/residential care home, so I am told.

One thing I have learned recently, if you are intending to draw your private pension and are not desperate for its income, taking the pension paid in arrears annually increases the value considerably, it still cr@p but much better that monthly paid.

 

[Billigmeister]

i certainly think a decent and well thought out btl is a decent investment shout.

the other thing i think i would like to think about in the long distance future when i am retired is to have a small pot to "play with" on stocks and shares. Obviously this would need to be a small amount that could well disappear but i would like to try and keep up to speed with things and try and keep me on my toes a little bit. you never know you can sometimes hit the right stock and get the odd windfall bonus.

those sort of small wins would make the money taste sweeter i think!

 

[124fan]

further thanks.
i had a short chat with another IFA today and he wanted 1200 smackers to go through my history and other bits of financials… i explained that i didn't want to repeat that exercise and that i was interested in specific bond type holdings … he wasn't interested …. so i just left him to it!
we will soon be getting into the christmas spirit so i probably won't do anything too rushed before the new year….
thanks for all the reminders about life being short, yes it certainly can be, but I'm hoping to be around for many years yet and id like to keep a few dollars to rattle around while I'm tyre kicking a few nice amg's or the odd aston martin!
i hope the thread continues for a while, as many here are interested in this topic. thanks again meantime.

 

[developer]

further thanks.
i had a short chat with another IFA today and he wanted 1200 smackers to go through my history and other bits of financials…

Ho ho - jokers.

We looked at restructuring our business and had a consultation with a consultant (oddly enough).

A week later, a letter arrived saying that she would write a report about our options - just the report mind - for £3500 :fail.

Jokers.

 

[Harrythedog]

Take all your money out of the bank and put it under your mattress. Then tell the man at the DHSS, or better still get a social worker to do it for you, that you have nowt and the Govt will give you money for free

 

[m2287]

I would agree with the above comment. Loughborough University now has a significant property estate and lets in the town are much harder to fill.

I went to Loughborough uni, lived on Sharpley road for a bit... Not the nicest of areas lol!!!!

 

[Palfrem]

Ho ho - jokers.

We looked at restructuring our business and had a consultation with a consultant (oddly enough).

A week later, a letter arrived saying that she would write a report about our options - just the report mind - for £3500 :fail.

Jokers.

Got to say, some folk have an amazing view of their worth.

That's a lot of money - I wonder what she charges for her hourly rate