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Welcome to the final day of a themed video content here on Property Tribes where we have been delighted to present a week of video showcasing investment fundamentals and how to build and protect sustainable wealth.The week came about at the suggestion of investment commentator, Graham Rowan, who is concerned about the level of financial literacy in the BTL and general investment sectors.Property Tribes has been presenting a week of content explaining Graham's proven wealth creation method and sharing many valuable insights from the Elite Investor Club, which Graham chairs.This is how the week shaped up:Monday - Taking responsibility for your financial future and how to do thatTuesday - Get educated!Wednesday - Create your "income engine" and then turbo charge it!Thursday - Build your "wealth pyramid" to future-proof your wealth.Friday - Protect your assets within a "wealth fortress".No matter where you are on your property/investment journey, I guarantee there will be some great take-aways for you.In the final instalment, Graham explains how to create a "fortress" to protect your wealth:
For further education, Property Tribes recommends the RLA training courses and also John Howard's seminars. These are low cost training days that deliver great value.We hope you have enjoyed "Investment Fundamentals Week" and join us in thanking Graham Rowan for sharing such great insights into how to create and protect wealth through property and beyond!SEE ALSO - The Property Tribes Essential Book and Reading ListUP NEXT - Pensions Vs BTL and TaxationDON'T MISS - My 3 unbreakable property buying rulesNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I have been slapped down more than once on PT in regard to my views on Pensions and Tax Planning
It is gratifying to have my thoughts and views endorsed by Graham
Pensions are not as complicated to understand as some think and they are not a Con that others think either
They just need to take a little time and read up on them I read a book called Pension Magic
Forget the bad press you see about pensions most of it has no relevance to a personal SIPP
Its a fantastic way of extraction money from the Ltd Co Strategy its very good to assist with S24 if your working or self employed
Pensions give some one with a bit of cash a lot of advantages
Graham has given some very good advice here I thought long and hard when S24 was announced and I started my Wealth Fortress than although I did not have a name for it at that time
So there you are DL told you so and I was correct Im glad I have changed my way of thinking about wealth maybe you should too
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
You can be financially independant on significantly less than £2.5 to £3k per month. £1.5k a month would work for me.
Pensions can be very complex, though they do seem to have got simpler. If you have worked in one job all your life the might well be simple, I have paid into nine pensions including the state one, Two I have transferred out of. The first two have turned out to be better than I expected, thanls to GARs of 10.6%. My FS one has tunred out to be not so good in that increases once it is in payment are entirely at the discretion of the trustees and the current ones have only given two 1% rises since they took over in 2003.However it does have a GMP which is increasing and may exceed the actual pension in about ten years . That will rise with inflation, capped at 3% (and for private pensions the government is no longer making up the rest as it did before 2016. There is a small AVC pension linked to the FS one that I will be taking as part of the TFLS. Next is a hybrid pension. That is divided into core and non-core. The core has a DB pension underpin, which does apply. My IFA, and his compliance department misunderstood the quote. I don't blame him, So did I, untill I noticed a discrepancy with other letters.. Anyway I want to the underpin from the core, take a TFLS from the non-core equal to a third of the core, and transfer the rest into my SIPP.Despite having explained this before asking for the quote my IFA has had to request new forms as the ones they have sent don't cover a partial transfer. Part of the underpin is a GMP which will be increase at CPI limited to 3%, The company has said the rest will be treated according to the 1997 law and increased at CPI limited to 5%,
Much of the complexity comes from changes to the law over the last 35 years.
Pensions can certainly be worth it, and Pension Magic is a good book.
I gave up trying to read this and just skimmed to the end. It sums up my thoughts that pensions are too complicated.
I had a pension of my own doing once.After leaving it alone for 10 years (no further investment) I looked at it and noticed no real increase in value - although the charges were pretty healthy for the pension managers!So I took what I could out of it (being just the right age at the time) and started my property journey.
I understand property, it is an investment I can adjust and affect how I please but it isn't making me the sort of money DL talks about to "invest" in this wonderful pension thing and gain 40% from the tax man. I do my best to stay just under the 40% tax bracket. Once again, I have the control over it.
All this talk of storing away wealth assumes you have built it up to an amount worth storing. I use most of my income from work and property to enjoy myself now knowing I have the income from property when I stop working.
Your mileage may vary
Graham talks a lot of sense
But my reservation is control over the asset that you have purchased with the help of Graham
I have looked at a number of deals from Elite and I have never taken the plunge
Personalty I would rather invest in high yielding bog standered 3 bed council house and my pensions which I can control ??? both without risk of course but I still like Property which I own and can touch and I can control with out the help of anyone else.
There is no charge to join the Elite Investor Club and you can attend their events for a nominal fee.If you decide to invest in any of their investments, I believe they charge an intro fee.Graham recommends that people attend one of their events to get a feel of the club and then, if interested, arrange to have a chat with Graham to see if he thinks the club can assist you in moving forwards.
Yes I think it makes sense for people to come along and see for themselves. There's no charge to join the club at https://www.eliteinvestorclub.com/apply/ and we don't charge for making investments. We receive a marketing allowance from the product provider if our members invest. All investment products have to be marketed, whether in the Sunday papers, on tube trains or on television. The advantage we bring is in our ability to raise significant funds quite quickly, which means we are often given exclusive projects or better terms than are available to the general public.
Most of the investments we provide are restricted to those who meet FCA criteria as sophisticated or high net worth investors, so we cannot publicise them on the website. We do however provide a lot of content including weekly Youtube videos on our Elite Investor TV channel.
Thanks for the opportunity of sharing our approach with the Property Tribes community and I'm pleased that people seem to have got some value from it.
All the best
I've been a member of the Elite Investor Club for a while. I haven't got involved in anything they promote yet but I have read and followed Graham's advice for around a year or so. Personally I agree with a lot of what he says and I think the fundamental advice is sound. After following the content from this week I'm going to make more of an effort to attend their events.
Thank you Vanessa and team for this really great content full of no nonsense advice. It's been really helpful to me personally.
Poor form to reply to myself I know, but a book I'd recommend to anyone interested in investing and how to build sustainable, long-term wealth is "How to Own The World" by Andrew Craig. The core concept is to invest in different markets and investment vehicles and to do so across the globe so you're completely diversified.
I have no affiliation to the author. I would like to see an interview between Vanessa and him though!!
Good shout Aaron!Perhaps you could add that book to this community-generated list >>> The Property Tribes Essential Book and Reading List
Andrew Craig sounds like a great person to interview, so we will see what we can do.