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North - South Divide Widens Again

North – South Divide Widens Again

A new study by the Office for National Statistics (ONS) has revealed that 20% of middle aged workers are property millionaires – on paper!

In the South East of England almost 30% of people in their 40s and 50s living in private residential properties can calculate their wealth to seven figures, when including savings, investments, the value of their homes and pension pots.

However, the study also revealed a sharp divide between North and South of England as well as between generations.

It claims that five times more children are growing up in households in the bottom top wealth bracket, North East, South East, wealth category as there are in the top wealth bracket.

While almost 60% of middle aged people in the South East have built up an impressive half a million pounds in savings, pension and property wealth, in the North East, 20% of the same age group have little or no assets that they can rely on.

The ONS study shows how wealth builds up through people’s working lives but begins to fall once they retire and begin using up their accumulated assets, in many cases on elderly care.

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Are You Really Too Old To Become A Landlord?

Are You Really Too Old To Become A Landlord?

There are scores of the current generation who are already facing the nightmare that is an under-funded retirement.

It may appear unfortunate, but more and more people over the age of 60 are beginning to realise that it’s not too late to do something!

It must be extremely scary to reach the end of your working life, only to discover that your pension is massively underfunded.

When it happens to retiree’s, almost the same story comes out every time, “I had a property in the 80s, if only I’d kept it, and bought another”.

Nowadays – 60 is the new 40!

People still have time to build a decent rental property portfolio, and they can guarantee their rental income from the property by utilising Rent Guarantee Insurance products, providing a regular and healthy income stream, but there isn’t time to wait.

In many cases, mainstream mortgage lenders are happy to lend on PRS Buy-To-Let properties up until an applicant’s 75th birthday.

At aged 60 you still have 20 good years left to provide for a happy retirement, especially with the leaps and bounds of medical advances.

Twenty years could see a great deal of capital growth and a substantial amount of rental income. Twenty years provides the opportunity for a whole lot of living to be done.

And if you’re under 60 and reading this: Why wait until you’re 60 to learn the lesson? Get into property investment now and get started providing for your retirement.

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