|
December 09, 2013, 10:34:40 PM Last edit: December 09, 2013, 11:11:41 PM by elendorsuma |
|
you are 15 years old, you have your whole life ahead of you! one thing i wouldnt worry too much about tax ,tax has to be paid speak to a really good accountant ,u havnt even worked for it imagine the people who clean streets , paint houses , or anyone els normal who works hard for a living and pays £5,000 out of a £25,000 salary thats tax but cashing out over 1 million pounds worth for capitol gains tax isnt a problem ,what will you keep £700,000?
this is what i would do i live in mitcham south london buy a 3 bedroom house here with a garage and a drive and a garden free hold in cash £250,000 rent it out for £1500.00+ thats £18,000 a year buy another house in mitcham in cash £250,000 rent out 2 of the rooms for £9000,00 a year if you want a more popular area look at flats in tooting about the same rent but more expensive
put £150k away in savings when you are ready to do some risk/reward investments put £50k in your current account and enjoy it you have a big income from the rent anyway.
you still have £200k left and owning 2 houses in london at 16 is well kinda amazing... you will be earning £27,000 a year and you wont need to get out of bed taxable income but so what everyone pays tax and you will pay it for pretty much doing nothing but managing 2 houses i personally wouldnt think twice about cashing out and getting something real like 2x houses money in the bank its far better then some electronic coin that is pie in the sky.. no one really knows whats gona happen.
so yes i would go down the 100% safe route low risk set your self up first then if you must play around with the £150k lm into property myself so i know a few things, but ofc its not rocket science . let me know what you think
|