B
BrianDwyer
Guest
I'm considering retiring in the next year, if I can afford it. I'll be consulting an accountant in the next few weeks to crunch the numbers, but could I ask any interested "askaboutmoney experts" if they have any ideas or suggestions?
Here's the deal:
62 Years old.
Property investments in Ireland and the UK.
House mortgage paid off.
No pension. (I know, I know . . .)
Me and the Mrs both healthy so far Deo gratias.
Currently the property just about "washes its own face", as the saying goes - i.e. the rental income equals the mortgage repayments.
If I sold it all off, it would raise a little over 600k.
Our house is also too big for us now, and we could trade down, freeing up about another 100k for use.
I'm wondering if I should:
* Sell off some of the property to make the rent from the rest more than the repayment, hence providing an income.
OR
* Sell them all off and buy some kind of financial instrument which will provide an income.
OR
* something else maybe you can think of.
Any suggestions much appreciated.
Brian
Here's the deal:
62 Years old.
Property investments in Ireland and the UK.
House mortgage paid off.
No pension. (I know, I know . . .)
Me and the Mrs both healthy so far Deo gratias.
Currently the property just about "washes its own face", as the saying goes - i.e. the rental income equals the mortgage repayments.
If I sold it all off, it would raise a little over 600k.
Our house is also too big for us now, and we could trade down, freeing up about another 100k for use.
I'm wondering if I should:
* Sell off some of the property to make the rent from the rest more than the repayment, hence providing an income.
OR
* Sell them all off and buy some kind of financial instrument which will provide an income.
OR
* something else maybe you can think of.
Any suggestions much appreciated.
Brian