At my last post I’ve mentioned that waiting for retirement money to enjoy or do what you want is not the best option as anything can go wrong.
What must you do? What suggestions or actions are available for you? You don’t want to do nothing and add to the already over extended wealth fare and you also don’t want to sit in a old age home without any capital to enjoy.
I will explain what I’m doing, maybe it rings a bell or you like my strategy. I must warn though that it might not work for you as everyone’s circumstances are different and I cannot promise that even for myself, my option will work. Things might change totally in the world as we know it and I will have to adapt my strategy.
I’ve created a Investment Trust and will do all my long term investments in this trust. I’ve also created a Family Trust where all our debt free items will be held. Although a Trust get taxed in my country by 40% from day one, I can use the trust in a good enough way to not pay too much tax. The main aim for me is to have a vehicle that will go on the day I want to retire or worse, I died. My family can just go on, the Trust didn’t died, I did and they can go on with the business without estate duty taxes that can pull the investments to a halt.
So what type of businesses do I build. I’m using vehicles that can give me passive income. I like property, but am also busy to build a web base business. This two vehicles should carry me forward. While lots of people’s retirement funds were wiped out by the crash we just experienced on the stock market, rental income get paid every month, even if you have to lower your rent to help your tenant, you will still have a income. It is better to help a known person and take a bit less than to sit with a unknown person in your house that might default on payments. To give is so much more rewarding than to receive. Same with your website, give as much as possible, the receiving part will follow at some point.
Now is the time where people look around and see how to create a extra income or even a new way of income as they might have lost everything. I’m feeling very sorry for people that lost things because the were badly advised and not because they over extend themselves because of greed. This is the type of people I would like to help.
Well hope this bit of insight helped and see you soon
Till next time, stay well
Tags: investments, retirement
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