ThirstyLizard
Registered User
- Messages
- 30
Should we take the profits out of the company additional salary, or leave them in the company,
Is that 130k profit forecast a net figure? Fantastic, just clear off your mortgage over the next 2 years or so. No one complains about being debt free and you will be very wealthy in 10 years if you keep going the way you are.
Build up other medium term investments
With projected projected profits of €130k, do you reckon this is sustainable and something you can enjoy every year?
You should be looking at lifelong cashflows to ensure that you make good use of the money so you have access to capital when you need it and can carry on enjoying life.
Thirsty, you have received some fine views for your next moves. All I might add is weigh up your options, yourself. Be careful not to get thrashed by any Financial sales men and only take an opinion from an accredited company that have reputable sales persons. Take nothing for granted and get everything in writing in case of future dispute.
I agree with this. We all want 'free' good advice and then complain that someone is trying to sell us something at the end of it. There is no such thing as a free lunch as we all know.Or get someone who will give you good advice rather than try to flog you something!!
allowing some profits to build up in the company
allowing some profits to build up in the company with one eye on possible retirement relief claims
I am really surprised that anyone still recommends this. The guy is 30. How many years has he got to go to retirement? Is it likely that Retirement Relief will still be available? Is it likely that he will still be in this business?
Don't expect any earth shattering advice from independent advisors.
I am really surprised that anyone still recommends this.
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