It's my first question on here so please go easy on me.
I am just starting with the forum and building up my wealth so apologies if the question has too many treats.
I am 34, single, no commitments, no debts, no properties, and a chunk of money sitting on my business bank account doing nothing. (I am a director of a Ltd company)
I've read few books related to financing and investing so far (A Random Walk Down Wall Street, The Little Book of Common Sense Investing, The Total Money Makeover, The Intelligent Investor, The Richest Man in Babilon, and two Kyiosaky books)
Knowing the Brexit is coming (not sure what the output will be but I am fairly confident I'm able to (and want) to work in the UK for the next 3-4 years)
Having said that, what would be the best for me to do with my savings?
- Withdraw all at once, get taxed 32.5% on it and put all into 25% deposit for buy-to-let property in London (this would burn all my money)
- Move half of it to a pension plan (index funds) and get 20% corporation tax relief on it, and withdrawal the other half.
- From the pension plan, I can withdrawal the funds when I am 55 (as a newbie I am not sure if I am comfortable with that)
- The other half would be taxed 32.5% but because I am getting the relief on the corporation tax, it balances the cost of it.
- I would invest the withdrawn (in the above subpoint 2) funds into index funds.
- Repeat subpoints 1-3 until I have enough for the 25% property deposit and at that point invest in buy-to-let property in London.
- Another variant would be to withdrawal the money (either using method 1 or 2) and buy 2 properties in my home country (Eastern Europe) all paid at once (no mortgages) and rent them. The downside is that the population in the country is dropping thus the properties prices are falling a bit too, so not sure if it is a good idea.
- Any other valuable suggestions?
I have not invested in anything yet in my life, I have some extra funds on my personal savings account and I have already chosen index funds I want to invest in (or keep it as an emergency fund eventually).
Thank you very much for reading the question, and hope I'll be contributing to the money.stackexchange on a regular basis :)
Any help greatly appreciated.