Thursday, April 27, 2023

Interest Rates Will Rise, Property Prices Will Fall And Opportunities Wi...


Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up

The Bank of England (BoE) and Federal Reserve have hinted that further rate rises are on the cards in order to tame rising inflation.

Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH

Today’s Podcast Summary

·        Wholesale market rates point to a rate rise.

·        Inflation in the UK is currently 10.1%.

·        The BoE inflation target rate is 2%!

·        What do you think the BoE are going to do?

·        This will officially put the economy into recession, cause property prices to fall and more homeowners lose their houses through repossession.

·        Do they care?

·        RICS report predicts a fall in property prices of around 5%.

·        Opportunities for first time buyers and property investors as prices fall.

·        Blackstone have just raised $30 billion to buy property.

What is your biggest money worry?

Watch video version https://youtu.be/ziTf2jOagB8

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live money management training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone #bankofengland #fed #rich #money


Monday, April 24, 2023

7 Ways To Retire Financially Free - 90% UK Workers Underfunding Pension,...

7 Ways To Retire Financially Free, As IFS Report Claims 90% UK Workers Are Underfunding Their Retirement Pensions, IFS Reports

The Institute for Fiscal Studies (IFS) is planning a comprehensive pensions review, in partnership with the Abrdn Financial Fairness Trust, following research which highlighted concerns about the "substantial risks" facing future generations of pensioners.

Recent research from the IFS revealed that 60 per cent of middle-earning private sector employees who are contributing to a pension are saving less than 8 per cent of their earnings, and nearly 90 per cent are saving less than the 15 per cent of earnings previously recommended by Lord Turner’s Pensions Commission.

Additionally, the IFS said almost all of this saving is coming in the form of “defined contribution” (DC) pensions, which leave individuals, rather than their employers, exposed to market and other risks that may be difficult to manage.

The IFS warned that those retiring with DC pots face considerable difficulty and risk in managing their finances through retirement, with risks around running out of private resources or savers being so cautious that they have a needlessly austere retirement.

The report also noted that an increasing number of those approaching retirement live in more expensive, insecure, private rented accommodation, warning that this could lead to a combination of a disappointingly low standard of living in retirement and/or greater reliance on housing benefit.

Summary

·        The Institute for Fiscal Studies (IFS) has announced plans for a comprehensive pensions review.

·        The multi-year review will examine the effects of changing economic conditions and public policies on the future of financial security in retirement, including how these effects differ by gender, ethnicity and across the UK.

·        The review will also consider the impact of changing demographics and longevity trends, as well as the impact on self-employed workers.

·        Reports will be shared over the next two years, with concrete recommendations and options for reform to be presented in Summer 2025.

·        IFS research revealed that 60% of middle-earning private sector employees who are contributing to a pension are saving less than 8% of their earnings. Additionally, nearly 90% are saving less than the 15% of earnings previously recommended by Lord Turner’s Pensions Commission.

·        The review will also consider the risk facing future generations of pensioners and the risk that too many are saving too little for retirement.

·        The Pensions Regulator welcomed the plans for the review and will support the development of industry-led solutions to help ensure people have financial security in retirement.

Here are seven ways to retire financially free:

1.      Start Saving Early: The earlier you start saving for retirement, the more time your money has to grow. You can use tax-advantaged retirement accounts/plans to maximize your savings potential.

2.      Live Below Your Means: Live a modest lifestyle and avoid overspending on unnecessary items. Create a budget and stick to it, and consider downsizing or relocating to a lower cost of living area.

3.      Invest Wisely: Invest your money wisely in a diversified portfolio of stocks, bonds, and other assets. Consider consulting with a financial advisor to help you create an investment strategy that aligns with your risk tolerance and goals.

4.      Maximize Your Income: Consider ways to increase your income, such as taking on a side job or starting a small business. Maximize your earning potential by developing new skills, pursuing advanced education, or seeking a higher-paying job.

5.      Pay Off Debt: Avoid carrying high-interest debt, such as credit card debt, into retirement. Pay off your debts as soon as possible to reduce your financial obligations and free up money for savings.

6.      Plan for Healthcare Costs: Healthcare costs can be a significant expense in retirement. Consider purchasing long-term care insurance or a supplemental health insurance policy to help cover these costs.

7.      Have a Retirement Plan: Develop a retirement plan that takes into account your goals, income, and savings. Monitor your plan regularly and make adjustments as needed to ensure that you stay on track to meet your retirement goals.

 

 

 

Millions of people have lost faith in the complex and muddled pensions system, preferring to do their own thing by investing in things like buy-to-let property, business or trading directly on the stock market.

Whilst this can work for some, ignoring the many benefits of pension investing, such as tax relief, carries risk.

Need help with your money?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live money management training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #buytolet #rentalproperty #pensions #IFSpensionreview #maxwell #definedcontributionpension


Tuesday, April 18, 2023

London Rents Jump By 20% As Mayor Khan Calls For Rent Controls

London Rents Jump By 20% As Mayor Khan Calls For Rent Controls

 

Residential rents in the capital soar by almost 20% as workers return to the city. 

 

London Mayor Khan wants the government to give him powers to impose a cap on rents, but is that the answer or will more regulation exacerbate the shortage of available rental properties?

 

Tens of thousands of landlords are quitting the market and estate agents Knight Frank estimated that 144,000 landlords have retired in the last year.

 

See 85,000 UK Landlords have quit the rental market - https://youtu.be/NME3nEu8dAQ

Furthermore, higher interest rates and mortgage restrictions have rendered many buy-to-let property deals unviable.

 

Buy-to-let landlords have had to contend with higher taxes, and more red tape in the last few years, prompting many to look for alternative business opportunities.

 

Watch video - https://youtu.be/rxqPIXYaLAc

 

There are signs that the government may be getting the message.

 

According to as yet unsubstantiated rumours, the government may be pushing back its planned introduction of tighter EPC requirements.

 

However, the abolition of Sec 21 no fault evictions looks like it is going ahead, despite the fact that there is no workable replacement. 

 

With a pending recession and higher interest rates, house prices have slumped by more than 4% from that peak, according to March's figures from the Nationwide Building Society.

Prices have fallen for five consecutive months as the Bank of England struggles to control inflation.

Does this mean there will be a 2008-style crash? Much depends on government moves to balance the economy, as no Prime Minister wants to face a general election during a property crash.

If you would like to know more about property, money, management and wealth building tips, I’m running a free webinar this week on Wednesday evening at 8 pm.

 

Need help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live money management training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #EPC #buytolet #rentalproperty #Section21


Saturday, April 15, 2023

Airbnb Holiday Serviced Accommodation Rentals To Be Regulated In UK Seas...

Airbnb Holiday Serviced Accommodation Rentals To Be Regulated In UK Seaside Resorts, Gove Warns

Michael Gove, the UK's Secretary of State for Environment, Food and Rural Affairs, has proposed new regulations for short-term rentals in holiday resorts, including those listed on Airbnb.

Join me online on my free live money management training Wednesday 8.00PM https://bit.ly/3QPp8IH

These regulations aim to address concerns over the impact of such rentals on the availability and affordability of housing in these areas. House prices have surged in popular coastal beauty spots in parts of Devon, Cornwall and Norfolk as investors swoop up property for holiday lets as higher rents.

Under the proposed rules, local councils would have the power to require property owners to obtain planning permission before renting out their homes for short periods. This would allow councils to regulate the number of short-term rentals in an area, and to ensure that they do not have a negative impact on the availability of long-term housing.

Watch video version - https://youtu.be/QvkdXPYjRMw

The regulations would also require Airbnb hosts to register their properties with their local council, and to comply with safety and hygiene standards.

Although these regulations have not yet been implemented, and it remains to be seen how they will be received by the public and by Airbnb hosts, the news will nevertheless be yet another worry to weary landlords.

Thousands of landlords have switched their business model to the more lucrative holiday, or serviced accommodation (SA) rentals, as an alternative standard buy-to-let.

As many as 85,000 UK Landlords have quit the rental market in the last few years due to higher taxes and government red tape. Rents have increased as demand outstrips supply - https://youtu.be/NME3nEu8dAQ

Buy-to-let property owners face further problems ahead with the planned abolition of sec 21 no fault evictions and higher EPC energy rating standards.

Could there be a property crash?

Property prices surged by about 25% across the UK from the start of 2020 until Autumn 2022.

With a pending recession and higher interest rates, house prices have slumped by more than 4% from that peak, according to March's figures from the Nationwide Building Society.

Prices have fallen for five consecutive months as the Bank of England struggles to control inflation.

Does this mean there will be a 2008-style crash? Much depends on government moves to balance the economy, as no Prime Minister wants to face a general election during a property crash.

Need help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live money management training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #EPC #AIRBNB #holidaylet #holidayrentals


Saturday, April 8, 2023

Spiritual Wealth, how to be rich and spiritual

Spiritual Wealth, how to be rich and spiritual

In a world that often seems to value material possessions over inner peace, it can be easy to lose sight of what is truly important in life. While money can certainly provide a sense of security and comfort, it is spiritual wealth that ultimately leads to lasting happiness and fulfilment. In this blog post, we will explore the concept of spiritual wealth and offer some tips on how to cultivate it in your own life.

Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH

Wealth can be defined as an abundance of valuable possessions or resources. It is commonly associated with financial resources such as money, investments, and property, but it can also refer to non-material resources such as health and wellbeing, security, peace, knowledge, skills, relationships, and time. In broader terms, wealth can be seen as the capacity to meet one's needs and desires and to live a comfortable, secure, and fulfilling life.

Investopedia defines wealth as: “the value of all the assets of worth owned by a person, community, company or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts. Essentially, wealth is the accumulation of resources. Specific people, organizations and nations are said to be wealthy when they are able to accumulate many valuable resources or goods.”   

We need both to be happy and comfortable or secure in the world.

What is Spiritual Wealth?

Spiritual wealth refers to the abundance of inner resources that enable us to live a meaningful and purposeful life. It is the wealth that is not dependent on material possessions or external circumstances, but rather on our own inner state of being. Some of the key components of spiritual wealth include:

·        A strong sense of purpose and meaning in life

·        A deep connection with oneself and others

·        A sense of inner peace and contentment

·        A capacity for compassion and empathy

·        A commitment to personal growth and development

While these qualities may not be tangible, they are nonetheless essential to living a happy and fulfilling life.

How to Cultivate Spiritual Wealth

So how can we cultivate spiritual wealth in our own lives? Here are some tips to get you started:

1.      Practice mindfulness and self-awareness

One of the first steps towards cultivating spiritual wealth is to become more self-aware. This means paying attention to your thoughts, feelings, and behaviours, and understanding how they impact your overall well-being. Mindfulness practices such as meditation, yoga, or simply taking a few moments to breathe deeply can be helpful in developing this awareness.

2.      Connect with others

Another key component of spiritual wealth is the ability to connect with others on a deep level. This can involve cultivating close relationships with family and friends, participating in community activities, or volunteering your time to help others. By connecting with others in meaningful ways, you can experience a sense of belonging and purpose that contributes to your overall sense of well-being.

3.      Cultivate gratitude

Gratitude is an essential aspect of spiritual wealth. By focusing on what you have rather than what you lack, you can cultivate a sense of contentment and inner peace. One way to cultivate gratitude is to keep a gratitude journal, where you write down three things you are grateful for each day.

4.      Practice forgiveness

Holding onto anger, resentment, or bitterness can be a significant barrier to spiritual wealth. By practicing forgiveness, you can release negative emotions and free yourself from the past. Forgiveness does not mean condoning or excusing harmful behaviour, but rather choosing to let go of the negative emotions associated with it.

5.      Commit to personal growth

Finally, cultivating spiritual wealth requires a commitment to personal growth and development. This can involve pursuing education or training, engaging in self-reflection, or seeking out new experiences that challenge you to grow and evolve as a person.

In conclusion, while material wealth may provide a temporary sense of satisfaction, it is spiritual wealth that leads to lasting happiness and fulfilment. By cultivating mindfulness, connecting with others, practicing gratitude and forgiveness, and committing to personal growth, you can develop the inner resources necessary to live a meaningful and purposeful life.

Can you be spiritual and wealthy?

Yes, it is possible to be both spiritual and wealthy. Spiritual beliefs and practices do not necessarily have to conflict with financial success or material wealth.

There are many examples of wealthy individuals who also lead a spiritually fulfilling life, such as philanthropists who use their wealth to make positive changes in the world or those who incorporate spiritual practices into their daily routines, such as meditation or prayer.

It's important to note that wealth should not be the sole focus of one's life, as material possessions and money cannot provide lasting happiness or fulfilment. However, being wealthy does provide opportunities to do good in the world and live a comfortable life, while also practicing spiritual principles such as gratitude, compassion, and generosity.

Need help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live money management training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #spiritualwealth #rich


Monday, April 3, 2023

A Lifetime ISA Is Ideal For First Time Property Buyers To Earn £1,000 Ta...

A Lifetime ISA Is Ideal For First Time Property Buyers To Earn £1,000 Tax Free Bonus

Use or lose your £1,000 tax free bonus before 5 April...

First-time property buyers can use a Lifetime ISA (Individual Savings Account) to buy their first home or save for retirement.

You should be 18 or over but under 40 to open a Lifetime ISA.

Watch video version - https://youtu.be/T4N8Drjy9ng

You can invest up to £4,000 each year, until you’re 50, but you must make your first payment into your ISA before you’re 40.

The UK government will add a 25% bonus to your savings, up to a maximum of £1,000 per year.

See full details on government website.

Need more help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

 

#property #mortgages #financialfreedom #firsttimebuyer #homebuyers #LifetimeISA #firsttimebuyer #firsttimehomebuyer #isa


Sunday, April 2, 2023

Home Values Plunge: Nationwide Building Society Reveals Worst Annual Dro...

Home Values Plunge: Nationwide Building Society Reveals Worst Annual Drop Since 2009

The housing market continues to decline and the latest figures from Nationwide Building Society show that house prices have fallen by the highest amount since 2009. According to the lender’s own data, prices were down 3.1% compared with a year earlier, the largest annual decline since July 2009.

Join me online on my free live training Wednesday at 8.00PM. Places are limited, so register now below https://bit.ly/3QPp8IH.

A contributing factor is the recent rise in interest rates, which has made mortgages more expensive and pushed the economy towards recession. This has made it more difficult for people to get onto the property ladder and has also led to some homeowners struggling to keep up with their mortgage payments.

Last month the Office of Budget Responsibility – the body that advises the government on the the economy - predicted that house prices will drop by 10% between their peak last year and the middle of next year.

The Nationwide said that prices were already 4.6% below their peak, taking into account seasonal factors.

Despite the challenges facing the housing market, there are some reasons to be optimistic. For one, interest rates are still relatively low compared to historical norms, which means that mortgages are still relatively affordable for those who are able to secure them. Additionally, there is still a shortage of homes in the UK.

If you are thinking about buying or selling a home in the current climate, it is important to do your research and work with a reputable estate agent who can provide you with expert guidance and support. While there are certainly challenges to be faced, there are also opportunities for those who are willing to be patient and take a long-term view.

In conclusion, the latest figures from Nationwide Building Society show that house prices have fallen by the highest amount since 2009. While there are certainly challenges facing the housing market, there are also reasons to be optimistic, and those who are willing to take a long-term view could find opportunities in the current climate.

 


Need more help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar. 

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

Join me online on my free live training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement