Best way to invest £190k to generate a monthly income
Discussion
JulianPH said:
Okay Sid, I can see where this is going. Just to address your points;
ftfy- You are laughing at facts, not claims. That never ends well.
- I am not a financial adviser.
- "Open Market Options" were exclusively for sale of annuities, the very product I stated had a captive (legally locked in) marketplace.
- I sign legally binding NDA's very often as part of my job (which, again, is not a financial adviser).
- It would be far simpler for you to prove your point by telling me (and everyone else reading this) which companies you were referring to. It does look very weak when you raise something yourself but ask someone else to back up their opposing position.
Edited by JulianPH on Sunday 16th December 16:45
Solvency II is also a reason some annuity providers have pulled out of the market. They are incredibly capital intensive, and a big part of that is due to the Risk Margin. With the amount of longevity risk capital required for annuities and being long term in nature results in a large Risk Margin.
If annuity providers underestimate longevity for their annuitants they need to get the money from somewhere to continue to pay them, hence the reason for the capital being held. However, if they get it right they can release the capital but that capital comes with a significant opportunity cost for them which also contributed to some exited.
What do you mean by a 20% profit margin? On what sort of measure is that? Is it on an EEV basis. If so, that's significantly higher than I ever saw when I priced annuities, but it was a few years ago.
If annuity providers underestimate longevity for their annuitants they need to get the money from somewhere to continue to pay them, hence the reason for the capital being held. However, if they get it right they can release the capital but that capital comes with a significant opportunity cost for them which also contributed to some exited.
What do you mean by a 20% profit margin? On what sort of measure is that? Is it on an EEV basis. If so, that's significantly higher than I ever saw when I priced annuities, but it was a few years ago.
selmahoose said:
lol@ the "letting agent" who thinks "The key to successful BTL is increased capital value".
And nope, the remaining £10k (£15k as it turned out) after paying the first instalment of a £260k debt was available to get the balance of £200 paid off over 12 months.
Today is a rare and well deserved day off from the so-far successful efforts to do just that.
But you've just reminded me..... DESOLATE!!...where are you?? I have 1500 motors waiting to earn us some commission for insuring!!! And a bigshot calling me a bulls
tter for failing to come up with his promised improved plan! (only kidding - he never believed it was possible from the start).
Accuracy m'boy. Accuracy. And I've reverted to the username I began with on PH. Don't you remember it? You'd have just been starting out on your "letting agent" adventure around then.....
Did they ever catch those guys who ran you over?And nope, the remaining £10k (£15k as it turned out) after paying the first instalment of a £260k debt was available to get the balance of £200 paid off over 12 months.
Today is a rare and well deserved day off from the so-far successful efforts to do just that.
But you've just reminded me..... DESOLATE!!...where are you?? I have 1500 motors waiting to earn us some commission for insuring!!! And a bigshot calling me a bulls
tter for failing to come up with his promised improved plan! (only kidding - he never believed it was possible from the start).Accuracy m'boy. Accuracy. And I've reverted to the username I began with on PH. Don't you remember it? You'd have just been starting out on your "letting agent" adventure around then.....
johnwilliams77 said:
Did they ever catch those guys who ran you over?
Well what happened was I'd just tossed my case with a weeks takings into the boot of my 520d and closed it when a car in skid hit me at about 30mph and I got crushed between the bumpers. Cops dealt with it as an attempt murder for a couple of months and then as a bungled robbery for another couple of months and thereafter as a mystery. Mainly because the how where and when make what actually happened virtually impossible to have been pre- planned.
It's a strange one alright. Without going into it the cops made serious efforts but got nowhere. And non-cop investigations led to nothing either. Not a word from the street and not a word from the jail. etc etc. And that alone makes it strange.
However, subsequent stuff arose fairly recently and I think this week a local serious crime unit cop is going to be contacting me for a meet and an update. Still no confirmed evidence but a lot of circumstantial stuff that might well lead in one particular direction. And that's it really.
JulianPH said:
As has been highlighted above, an annuity is not a return on capital, it is in exchange of the capital.
If the capital is not the important factor (i.e. the income is the important factor) then this could be a viable option though.
True - but from the OP it seemed question was about income- no need to leave any inheritance If the capital is not the important factor (i.e. the income is the important factor) then this could be a viable option though.
Given the age factor I still think drawing down and topping up existing 'income' is a worthwhile consideration and enjoy it.
I've just had a similar discussion with the father-in-law having problems with his electric roller door on his garage. Refuses to get it fixed or replaced saying if it breaks the car's going
"Ok so you're sat on 6-figures accessible and over 80 so would rather let the LA call on it if you end up in a carehome than buy a new door for the years you've got left?" I've not convinced him!
I've just had a similar discussion with the father-in-law having problems with his electric roller door on his garage. Refuses to get it fixed or replaced saying if it breaks the car's going
"Ok so you're sat on 6-figures accessible and over 80 so would rather let the LA call on it if you end up in a carehome than buy a new door for the years you've got left?" I've not convinced him!Gassing Station | Finance | Top of Page | What's New | My Stuff