Podcast Summary
Investing in Property with Pensions: Listeners learned about using pensions for property investment and were inspired by a success story. Rob B shared effective interview techniques.
The property podcast, hosted by Rob Benz and Rob Dicks, offers valuable insights, news, and motivation for property investors every Thursday. This week, they discussed the possibility of using pensions to invest in property and shared a story about someone who did so successfully. Rob B also shared interview techniques he's learned over the years as a thank you to younger listeners. The episode received positive reviews, with listeners praising the podcast for being helpful, inspiring, and easy to understand. One listener even called it "truly life changing." Another commended the presenters for making understanding property investment fun and interesting. Overall, the Property Podcast provides a wealth of knowledge and practical advice for those looking to invest in property.
Successful webinar with quick sell-out of Property Hub Plus: The Property Hub team's successful webinar led to the quick sell-out of Property Hub Plus and plans for a launch party. Attendees shared positive feedback, triggering new thought patterns.
The Property Hub team had a successful webinar with great feedback and interaction from attendees, leading to the quick sell-out of the Property Hub Plus. They also announced plans for a launch party and meetup in early January, encouraging listeners to stay updated for more information. The team received positive feedback from attendees, with some sharing that the discussion triggered new thought patterns. The webinar covered both the hub and larger topics, resulting in a productive and enjoyable experience for all involved. If you missed the webinar or want to attend the launch party, be sure to sign up for updates on the Property Hub website.
Using Pensions for Unconventional Investments: Creatively using pensions for unconventional investments like property can offer unexpected opportunities for retirement savings, but it's crucial to consider the pension crisis context and seek expert advice.
While pensions may seem restrictive, they offer unexpected investment opportunities with creativity and careful planning. For instance, Tom Fowler, a property developer, bought a stake in an airport using his pension, demonstrating the potential for unconventional investments. However, the context around this topic is the pension crisis, where poor returns, high inflation, and greedy pension companies have left many individuals disillusioned with their retirement savings. As a result, they are turning to property investment as a viable alternative. In this episode, we will discuss the specifics of using your pension to invest in property, a topic we have not covered before. Rob, who has extensively spoken about the pension crisis, emphasizes the urgency of addressing this issue and taking action to secure a better retirement future.
Pension shortfall for many nearing retirement: With decreasing pension returns and increasing life expectancies, a pension of £100 a week might not be enough for basic living expenses. Consider alternative retirement plans for financial security.
The current pension system, especially for those nearing retirement, may not provide sufficient funds for a comfortable retirement due to increasing life expectancies and decreasing pension returns. With the average pension pot being around £30,000 and the expectation of living longer, a pension of £100 a week might not be enough for even basic living expenses. The situation is expected to worsen as pension returns continue to decrease and life expectancies continue to increase. Those closer to retirement age may be fortunate, but those under 45 may need to seriously consider alternative retirement plans, such as investing in property or other assets, to secure their financial future. Don't bury your head in the sand, take action now.
Convert pension to SIP for property investment: Seek professional advice before converting pension to SIP for property investment, as it involves numerous decisions and responsibilities.
While it's possible to use a pension to invest in property, there are restrictions and it's important to seek professional advice first. To do this, converting your pension into a Self Invested Personal Pension (SIP) is the first step, as it allows you to manage your investments and choose from a wide range of permitted investments. However, with the freedom of a SIP comes responsibility and numerous decisions to make, so consulting an Independent Financial Advisor (IFA) is crucial before proceeding. Remember, Rob and I are property experts, not financial advisors, so always seek professional advice for pension-related matters.
Investing in various assets through a SIP: A SIP allows individuals to invest in diverse assets like commercial property, hotels, and care homes with potential use of leverage, but rules restrict holding residential property and conversion to residential use. Consult an IFA for suitability.
A Self-Invested Personal Pension (SIP) can be a valuable tool for individuals looking to invest in various asset classes, including commercial property, hotels, student accommodation, care homes, and even prisons, with the potential to use leverage. However, there are restrictions, such as the inability to hold residential property within a SIP. The pension must sell the property before it becomes habitable if the property was previously commercial and later converted to residential. While the government has proposed changes to allow SIPs to hold onto property after conversion, these rules have yet to take effect. Additionally, land with or without planning permission for residential development can be held within a SIP. Consulting with an Independent Financial Advisor (IFA) is crucial to determine if a SIP is suitable for your specific goals and situation.
Deciding on Residential Use and Direct vs Fund Investment for SIP Property: When investing a pension in property through a SIP, ensure you apply for planning permission for residential use before selling land. Consider both direct investment for control and lower costs, or funds for access to larger projects and expertise, but research credibility.
When investing a pension in property through a Self-Invested Personal Pension (SIP), if the land within the SIP is to be used for residential purposes, the pension cannot continue to own it. This means that planning permission for residential use must be applied for before the land is sold. Another key decision is whether to invest directly or through a fund. Direct investment offers control and potentially lower costs, but may limit opportunities due to fund size and expertise. Conversely, investing through a fund allows access to larger projects and expertise, but comes with higher costs and the need to research the fund's credibility. Overall, careful consideration is required when deciding how to invest a pension in property through a SIP.
Thoroughly research alternative investments for retirement savings: When considering alternative investments for retirement savings, research both the people and opportunities carefully to protect your pension savings.
When considering alternative investments for your retirement savings, such as property or funds, it's crucial to thoroughly research both the people involved and the investment opportunities. Past success is an indicator, but it's not enough. Your pension savings are valuable, and losing them can mean starting from scratch. Property investments may allow you to still own the property even if the investment turns bad, but with funds, you could lose everything. Therefore, researching the fund, the people behind it, and the project they're planning is essential. It's also important to remember that property is not a pension and doesn't offer the same tax advantages. The pension crisis is a pressing issue, and ignoring it could lead to serious consequences. A property investment portfolio might be an alternative, but it requires a solid plan. Lastly, remember that not all financial advisors (IFAs) are equal, so it's vital to find a trusted and knowledgeable one. Don't let complacency or misinformation jeopardize your retirement savings.
Questioning Expertise of Potential Advisors: Do your research on potential advisors, prepare for interviews, and aim to stand out with unique answers to common questions.
While qualifications are important, it's crucial to do your own research and question the expertise of potential advisors. Don't assume they know it all. When it comes to choosing an IFS (Independent Financial Advisor), consider listening to Pete Matthew's podcast episode for guidance. This week's resource is about interview tips to help you stand out from other applicants. Preparation is key, so dig deep into the company and its services. Prepare thoughtful answers to common interview questions and aim to capture the interviewer's attention with something unique. Remember, the competition for good jobs can be fierce, so every detail counts.
Stand out in interviews by sharing unique experiences and asking insightful questions: Prepare unique stories and thoughtful questions to differentiate yourself during job interviews, showcasing dedication and individuality
During job interviews, it's essential to make yourself stand out by sharing unique commitments and experiences outside of work. This not only demonstrates your dedication but also your individuality. Furthermore, asking thoughtful, insightful questions can leave a lasting impression on interviewers. Preparing a question that showcases your forward-thinking mindset and ambition can set you apart from other applicants. Remember, interviewers often hear the same responses day after day, so being unique and authentic can make a significant difference. Additionally, ensure your CV's personal statement is distinct from others by highlighting unique experiences and accomplishments. By following these tips, you'll increase your chances of making a lasting impression on potential employers.
Standing Out: Essential in Professional and Social Situations: Making a lasting impression requires uniqueness in CVs, conversations, and everyday interactions. Tune in next week for a comparison of investing in the north vs south on The Prophecy Podcast.
Making yourself stand out is crucial in both professional and social situations. Whether it's through a unique CV or engaging conversation, capturing someone's interest is essential for making a lasting impression. This principle can be applied to various aspects of life, including networking and social interactions. Next week on The Prophecy Podcast, Rob and I will be going head-to-head in a rematch discussion, this time comparing the merits of investing in different parts of the country - north versus south. Make sure to tune in to find out which side we'll be taking and who will come out on top. Remember, standing out is key, whether it's through a memorable podcast episode or everyday interactions. Don't miss out on next week's exciting episode!
