So, you have made it as a landlord. Your lettings are all running smoothly and to optimum efficiency.You are living the dream. Now what?

If you don’t feel like lining some greedy bankers pocket with more cash for over priced mortgages which require massive deposits, or you think you have enough property, and now is not the right time to buy more, what do you do next?

Eggs & Baskets

After the excess of what I like to think of as ‘the property years,’ if you are one of the sensible ones who worked hard to build a portfolio that is not teetering on the edge of bankruptcy and have managed to bank some spare funds, now is the time to diversify into other arenas. Now, is also the time, to be absolutely certain you have the best advice regarding tax saving and wealth creation strategies.

The hardest part about making money is the initial lift off effort required. Once you are rolling it’s always easier to make more. However, this is when investors start to get complacent. Having all your eggs in one basket is a precarious place to be. As we have witnessed over the last few years, property markets can change very quickly. They can leave you high and dry wondering what the heck happened if you don’t plan for those eventualities in advance.

Pensions

Take pensions for example. If you are saving for a pension have you stopped to think that there may be better ways to protect it than a government scheme? Are you aware that if you die before you use any or all of your pension, that the remainder heads back to government coffers? And there are even rules around how much you can and can’t use of your own money? I mean, c’mon, how ridiculous is that?

I used to know a bloke who worked for 30 years for a company and had over £70k in pension. Unfortunately he died within 6 months of retirement. His family did not get a penny of that money, it all went back to the government. Is that fair?

What if I told you there was a 100% legal scheme which allowed you to take 85% of your pension NOW, in cash, to use as you please, AND you can pass it on to your beneficiaries tax free. Would you be interested in learning more?

Tax Saving

Lastly one more nugget. How about paying no tax again, ever. Think it’s not possible? Think again. It is, via a fully legal system which has been around for the last 20 years. One that is passed each year by HMRC. This system used to be for the super wealthy, but is now available for anyone who earns an income via any form of self employment or their own company.

So, if you are wondering what direction to go in next, how about looking at just one of the things I’ve mentioned here. After all, it’s not what you earn it’s what you have left that counts.

About The Author

Our ethos is to help people to really understand property investing without all the guff and marketing hype and bias. We are proud to be wholly independent and ethical. No nonsense advice about tax, pensions, property investment and finance via our blogs and social media channels.

Janet Trowell Discountletting.co.uk Join me on Twitter LinkedIn