ฝัง
- เผยแพร่เมื่อ 26 ส.ค. 2024
- Alright lads. So all this talk about rates, price work and being efficient etc and no one has mentioned investing, retirement, or a rainy day fund! Construction brings a wealth of opportunities to us trades people but first thing to understand is swapping time for money is a sure fire way to retire poor. Hard decisions now, easy life later, easy decisions now, hard life later! Go get them investments!
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Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $287k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@williamDonaldson432 How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
@@foreverlaura-fq4eu Firms can be unscrupulous as they prioritise their own commission over your profitability. On the other hand, I prefer working with individual investors like Annette Marie Holt, who only take a share from your profits, not your initial capital. I must say, my experience with her has been exceptional thus far.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Natalie Strayer.
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I'm new at this, please how can I reach her?
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery
Glory to God shalom.
Perfect advice. I work behind a desk and have been trying to tell everyone this. If you’re in the trades you already have a huge advantage. Please do make the most of it.
💯
Getting myself into and out of debt was, with hindsight, one of the best things to happen to me. Got out of debt in 2012 and the first thing Santander did was offer me a loan. Taught me the value of money and more importantly, ownership. Besides that, I've always suspected there's an underlying reluctance among tradesmen to invest and get themselves in debt because their parents didn't own the home they were brought up in so there was an absence of insight on how to manage the finances necessary to maintain a private roof over their head(s). That should be taught in school.
They will never teach this is in schools. The system is working just fine, go to school, get a job, pay your taxes, retire on barely enough money to live. Once people understand the difference between good and bad debt they realise that this is what the banks do with our money anyway! So might aswell play them at their own game
Me and me wife got property down in chisledon we move down there in 4months icome and see you about a start on day work
Good luck mate with your plans ,like the old phrase “ as safe as houses ” live your best life now as no one can predict the future ,time is precious ✌🏻🤩
To true
Good points, plenty in the trades earn well,and live well but dont save well.
Ideally selling up and moving far North once you're retired.
I see plenty doing this, become debt free cash in the bank and even doing smaller jobs in the North for pocket money.
I see it a lot in this generation, cars on tick, lovely watches and clothes yet no pension or exit plan. People complain about construction and lack of holiday, pension, medical cover etc but they earn twice as much as say a post man who has all those benefits and yet they have no plan to cover retirement
@@Tone_Team it's all for show. Was at the local McDonalds earlier today, it was one 80k Jeep after another going through the drive through. Yet the same people would argue over how a bill is split on a night out.
Really good informative video that one to all the younger ones who follow you I’m winding down now me and the wife have just bought another property to rent out. Where retiring to cyprus gona sell our house to fund that move but the rental one is gona be our base in the uk incase we come back
Sounds like you have used your money wisely 👍🏻 enjoy Cyprus and enjoy your retirement 😎
A house is also liability as it cost money to own. From an accounting perspective it's only an asset if it is producing income. you'll find that house price rises over the last 20 years have only slightly outstripped inflation.
Did you pay attention to the video?
Torn between doing this when i move next year. Wife wants to keep an rent but i want to buy renovate an move a couple more times yet befote i look at buying to rent. You've almost convinced me to keep it an rent it out though nice 1 👍🏻
As long as you are building some kind of equity or portfolio mate do what works for both of you. Just don't rely on our government to look after you 👍🏻
Totally agree with you. I’ve just set a Ltd company and going different route. I will be flipping property which means I won’t have to deal with difficult customers. Like youself I have Buiding company with a few employees. Did look into rentals. But can’t be arse dealing with people lol.
👍🏻 get a good agent if you don’t want to deal with agents and let them take the hassle out of it 👍🏻
Excellent advice I'm in the plastering game you really have to work smarter I'm lacking big time on retirement I'm 37 no debt just a mortgage I need an investment property
Dosent have to be property, could be crypto, watches etc. Something that goes up in value 👍🏻
@@Tone_Teamcrypto has no upkeep ,or stupid tenants wrecking your house
Hi mate hope it all works out for you. Stamp duty on a second home is something to consider if your only earning a few hundred per month on the rent it could take you well over a year to earn back the stamp duty alone. Then the repair costs to the house. You need to be making a decent amount per month after you factor all this in and then try earn a decent profit to make it all worth it. Imagine if you had no mortgage payments now and you could put that £900 per month into a savings account would build up to a nice big pot quickly!
Hi mate, the cash flow is a bonus, it’s the capital appreciation that mounts up. Money is decreasing in value and the worse place to hold it is in the bank. Bank of England report inflation is a 2%, no way on this planet. Money in the bank is eroding faster than ever
Spoke alot of sense there mate 👍
All I know is that you have to try and beat the system or it will beat you 👍🏻 just end up working 40 years to retire on 40% of what you earn now, that’s if your lucky
@@Tone_Team 💯👍🏻 well put
@@Tone_Team Bang on mate. Actually quite sad how people flog their guts out year in year out and theres absolutely no reward at the end of it unless you are savvy enough to put things in place for retirement but unfortunately not everyone is in a position to do so.
Nice one Tony
👑 👍🏻
great idea i did the same thing 20 years ago also got gold best thing i ever did
Wise man 👍🏻
property,precious metals and bitcoin,the latter being the best investment imo
True but that may well depend on when and at what value you bought Bitcoin or other Crypto.
@@richardmcdougall233 absolutely right,but if you believe bitcoin will hit 100k,500k,1mil,then you are never too late to the party
Bitcoin is, in my opinion, a very good investment 👍🏻
@@Tone_Team it is looking that way,I got into crypto in early 2017,bitcoin was around 3k,7rs later its performed better than most,but I'm just a bricky,what do I know lol
I am currently trying to get Companies House to set me up with a fake company based in London at a well used empty address. No response so far. I might have to use a false name and title if I do not hear back soon. Then I can get on the UK Corp gravy train.
Good luck
Great video 👌🏻
Glad you enjoyed it
Good video tone
Thanks mate 👍🏻
Do you not pay tax on rental and CGT on sale as it’s no longer main home? Not saying it’s not a good idea - just interested
You pay tax on rental if held in personal name but not if held in Ltd company, which is easy and straight forward to setup. Yes you pay CGT on sale which is why I said retain property and refinance every 4-6 years and then there is no tax
@@Tone_Team appreciate that - you now have me thinking 💡thank you and keep up the good work
@@dominic8218 you can also add value to properties when buying, offer below market value, do them up etc and it will off set any outlay over time. On average houses prices in England double every 10 years or so 👍🏻
@@Tone_Team magic and thank you again 👍🏻
How's things tony great last few videos very interesting. I have a house worth about 420000 I have a mortgage left of 150000 any ideas 💡 build sell buy thanks
Hi mate, hard for me to comment on peoples individual circumstances but I always think equity in a house is better off working for you than sitting around doing nothing. It is exactly what the banks do, they take our money and use it to make more money
My age 72yr old I worked long hours for 50yr years on low pay on building sites as a joiner retired now because I worked for so long I get less of a government pension than someone who couldn't be bothered to get off their arse and get a job they get the rest made up on benefits
The system isn’t fair. You work all those years to retire with little. Wishing you all the best 🙏🏻
Paying interest only whattttttttttt
It’s extremely common with buy to let, residential or commercial. Capital appreciation is the aim along with positive cash flowing assets
Right in how the game is played now but the house of cards is about to collapse with a massive repricing on all assets so be careful
It’s time in the market, not timing the market 👍🏻 houses prices have double on average every ten years
@@Tone_Team house prices can’t keep doubling every ten years if wages don’t follow. It’s unsustainable. Mark my words the housing market is going to collapse. The banks don’t have money.
@@matthewroberts157 they have done for past 100 years, why don’t think it will stop now? And remember that is average, it depends where you are in the cycle. The housing market may well collapse but they will rebound higher than previous eventually
Take each day as it comes me never think about this sort of stuff
Nothing wrong with living in the moment, in fact it’s very important but it’s also important to plan for the future. I use something called the 6 jar method, once the system is setup you can forget about your finances and let the jar do its work 👍🏻
What’s the 6 jar method
@@jsaunders9804 Google 5 Jar Method by Harv Eker 👍🏻
Housing market crashes 50% you'll have dry mouth
I’m not selling so why would it impact me? Rent is still the same
I read a thing on the Irish revenue website about Muslims not having to pay interest on mortgages…i might convert if that’s the case
No you didn't read that.
I'm converting 🤣
Islamic financing
The term Islamic financing means any financing arrangements which are compliant with the principles of Shari’a law. This law forbids the making or receiving of interest payments.
Islamic finance arrangements will have a similar objective to other financial transactions, but are often structured in an alternative way (regarding debt). Transactions which are Shari'a compliant may or may not be treated in the same way as mainstream financial transactions which are similar in substance