Start pension at age 43?

LS400 said:
Apologies, that should have been €180k
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Ok but that still equates to an annual return of nearly 6% on your money. After all investment costs and taxes.

It is highly unlikely that your 2-bed rental will achieve anything like that kind of return. You really need to properly account for costs and taxes if you want to make an apples-to-apples comparison.
 
LS400 said:
Apologies, that should have been €180k, (Was a long day) enough for a 2 bed North Dublin. which i expect to let at approx €1000 going straight to the pension fund.
No, Odyssey, absolutely no to the 100% mortgage, I have worked bloody hard, and not afraid to get up on Saturday and some times Sunday too.

I did say I sacrificed a lot, and some of that was family life,

I also said I was lucky in this field, I have heard the horror stories, and have family who got cought. In 2011, i took risks, there were no guarantees, it could all go wrong for me tomorrow, Maybe it wouldn't work to my extent today, but being very aware of the past in this field, I have no fear in purchasing another now.

I hope I have given people out there another option to consider and to look close at what the realistic gain will be, remember, I was never anti Pension, I just know now that what I thought was a good premium to be paying hasn't quite performed as I was led to believe, and the crux of the thread started by Foodie was the 43 year old, not the taking out of a pension.
This has been dragged in to a Private / Public sector

So, I have to put on my blue collar and go fund my wonderful pension, so its over and out on this topic for me,

I will have to check other threads over the next week or so and contribute my perils of wisdom. Normally the mods would have chastised me by now due to my relentless
defense. Another thing I proud of, no sin bin :)

You can breath easier guys.

Its been nice swimming with the sharks.

Merry Christmas to all

LS
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LS400, I applaud your relentless defense. And a merry Christmas to you too.
 
Sarenco said:
Well, lots of folks discovered in the very recent past that they couldn't actually exit their BTL investments when things went south.

.
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I'm taking issue with this. You are referring to reluctant landlords who bought high, intending to flip, and the investment never made sense from the get go.

If the rent doesn't mostly cover the mortgage and you don't stress test you are correct.

Also those still in NE ( I am on one ) it doesn't matter, not if the rents are basically covering everything. But the government has really made it difficult in the last few years.

You should think long term and not put yourself in a forced sale at the wrong time position.

As regards the OP. Unlike the 57 year old thread, I'd be for a pension. I don't think 43 is too old. But I'd want a worked example of the figures before I'd make a decision. And other investments, such as property, are not for everybody.

My own experience is my OH. But he has a defined benefit pension that was based on employer contributions mostly, on a high salary, and was about 20 years of contributions and will give him a decent pension at 65. He also has a small pension of 30k that will pay out 3k at 65 from Ireland, from before we left. The 30k is if we cashed it in.

Two cases scare me though. In relation to pension funds. Enron and the Waterford workers. And that reminds me. The lovely Green on his mega Yacht and the BHS workers left with little.
 
No, I wasn't referring to reluctant landlords particularly.

I was referring to the many thousands of people that bought BTLs prior to the crash and couldn't exit the market when rents plummeted because they found themselves in NE.
 
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