Being A Millionaire

it's more than having a million

Pensions can be interesting…really! August 20, 2009

Filed under: Uncategorized — beingamillionaire @ 10:36 am
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Ok…this is just getting plain spooky now!

You remember the Prosperity Game that we have been doing every day (Thanks to Esther and Jerry Hicks and the Teachings of Abraham ‘Ask and it is given’)…well….one of the things we keep ‘buying’ each day is property, mainly holiday home/ rental property.

We’ve had great fun finding holiday homes both here in the UK and abroad, however the reality is that our cashflow wouldn’t allow us to buy one right now.

So…where is this going….Ok I’ll tell you!

A couple of weeks ago, O.H had a letter regarding his pension and had a brain wave about cashing it in to use as a deposit on a property…oh…except you can’t do that until you retire at 65! 25 years from now…’But I need the money now!’ I heard him telling his Financial Advisor to no avail.

So there was only one thing he could do in a situation like that…search the Internet for some information.

After a bit of ‘googling’ he came up with SIPPS…I won’t bore you with what a SIPP is (Self Invested Personal Pension) partly because I don’t quite understand, but you can read about it at Money Saving Expert.

I’m going to cut a very long story short now.

After doing some sums we realised we had £27,000 in pensions between us which we could then invest in some overseas property.

To cut the story even shorter we met up with a friend of my O.H and in less that an hour and a half we had put our pension into a property in Cape Verde and not a penny down!!

Not only that, but the rental we will earn each year, will be put straight back into the pension, giving us a far better return on our money and, if our calculations are correct, the chance to retire at 55!

How exciting!!! And what had we been asking the Universe over and over for…an overseas property and now we have one with the least amount of effort ever!

What a brilliant day!