You’ve probably heard me mention SSAS (Small Self-Administered Scheme) on more than a few occasions, but you are probably one of the many people who have never heard of it! 🙉📢
No great shocker really even though SSAS has been fully supported by the UK Government for over 40 years. Only a small proportion of people use a SSAS to create outstanding levels of compounding wealth and even fewer outside the world of property! 🤩
Everyone should at least know what a SSAS is. In very simple terms it is a “pension pot”; but one with more than a few benefits.
✅ Set up for the benefit of owner directors of private and family run limited companies.
✅ Members are Trustees – so have control and flexibility over assets and investment choices
✅ Tax Efficient
✅ NO income tax and NO capital gains tax
✅ Can “lend” money to your sponsoring company – “Loan Back”.
✅ Purchase commercial property
Pensions are not the most attractive of subjects, and a fair few people often don’t discuss their retirement plans until it is too late. Our SSAS is our largest “bank account”, something I had overlooked until discussing it with my solicitor. ✍️
It is true, we increased our assets by over 600k with just one decision and that could be you too. We set up our SSAS and transferred all our smaller scattered pension funds into it, no mean feat given the bureaucracy and hoops we needed to jump through. 🙏
If you are somewhere in the realms of 50 years old, and like us had been putting off thinking about your retirement now is not the time to delay. At least assess what your life is going to look like at retirement and ACT now. 👍
A SSAS might not be right for you; but working out how to CREATE – PRESERVE and MULTIPLY WEALTH surely has to be high on your list! 💯
Check out our updates on Project D – just one way we are using our SSAS through collaboration to generate wealth. To find out more just reach out to book a call. ☎️
