What to Do If You Have No Pension

istockphoto_6648978_savings_webThere is an active Property Investing sector, which is likely to increase significantly over the next 10 years as those approaching retirement age seek to ensure they have one by investing in the buy to let market.

Rising living costs and the continued increase in those costs means there is a huge shortfall between the projected income of households after retirement and the costs they are likely to meet.

Relying on the state benefits, welfare and healthcare systems is a recipe for disaster. These Systems are already under enormous strain dealing with current levels of demand and rarely does a week go by without another highly publicised mishap as a result of these shortcomings come to light. Without a lot of investment and trial and error testing these shortcomings will not be resolved anytime soon. So for now you may as well except that if you want a retirement you need to look closer to home for the solution.

Many homeowners and business people are doing just that recognising the importance of building an asset base that will look after them and their loved ones in their retirement.

For a number of compelling reasons property represents one of the most popular asset classes for building a retirement fund:

· It offers the opportunity for significant leverage – typical buy to let mortgages are available at 75% LTV

· Done right it can create a good and inflation proof income

· Long term growth trend seems likely driven by some strong market fundamentals – a finite amount of space with a growing population and a house building sector that can’t keep up with demand

· It’s relatively easy to get educated about the industry

However if it’s not done properly newbie investors could be on a collision course, heading straight for the future they are trying so hard to avoid. There are so many ways to get fleeced or lose money in property that it’s often very dangerous to simply have the cash and the will, education is key.

Getting it wrong can be disastrous and end up robbing the budding property investor of everything. Often the biggest challenge for those seeking to get into property investing is the investor themselves. They mistakenly believe that because they’ve made some money on their home they’ll be able to grow a profitable portfolio. For this reason Property Investing seems deceptively easy. Nevertheless fail to follow some surprisingly simple steps Investors can very easily jeopardise every penny they have.

With a bit of training almost anyone can become a successful property investor and grow a profitable portfolio for a healthy and wealthy retirement.


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