Hi,
I am 42 yrs old with approx 50K in pension fund mostly saved in the last 10 years. I have never spent too much time looking at pensions but have invested in property and currently have 3 rental properties with approx 15 years left to clear mortgages..
I am hoping to look at ways that I can pay off the properties in 8 to 10 years as I would like to semi retire when in early 50's
I have looked at many pension calculators all indicating what you should save per year to amass a certain pension when you reach a certain age. However I am wondering if my reasoning makes sense that that my rental income can be pension for me and wife or is there a way to put property into some tax efficient vehicle for purposes of pension.
Thanks
cc
I am 42 yrs old with approx 50K in pension fund mostly saved in the last 10 years. I have never spent too much time looking at pensions but have invested in property and currently have 3 rental properties with approx 15 years left to clear mortgages..
I am hoping to look at ways that I can pay off the properties in 8 to 10 years as I would like to semi retire when in early 50's
I have looked at many pension calculators all indicating what you should save per year to amass a certain pension when you reach a certain age. However I am wondering if my reasoning makes sense that that my rental income can be pension for me and wife or is there a way to put property into some tax efficient vehicle for purposes of pension.
Thanks
cc