[neil 47]

As a lot mabye aware I only do carpet cleaning p/t.

I am a bit warey about giving up a f/t job(local govt) with a pension.

What provision have you all got in place for when you finish.
As I have seen a good few on these board having to give up cc due to ill health
 

  Neil

[John Kelly]

Neil
Don't worry about a pension, you just keep cleaning till you drop.
We are currently developing a Zimmer Frame Wand.
Seriously you do need to think about this as most one man band businesses are worth very little over and above the vehicle, equipment and list of customers.
If done correctly, carpet cleaning can offer you rewards which far outstrip what you can earn in paid employment (professions excluded) You then have to decide how to invest this surplus income to provide you with a resonable living when you do decide to give up. The government has recently allowed you to buy property as part of a pension plan. Not sure of the full rules but I believe you get tax relief on the mortgage payments and no capital gains when you sell. A nice little holiday cottage somewhere, subsidised purchase by the tax payer, regular rental income...sounds good to me.

[jasonl]

Its called a SIPP ...... SELF INVESTED PENSION PLAN , just signed up for one, and transferred previous fund in to it, it means I choose where to invest my fund, they have been around for years, but the rules are about to change meaning that you can invest in residential property as well as commercial- which you have been able to do for years. The rule change is great as there is a lower start price for residential property... unless you are down south...... this means I can through my pension fund buy crappy houses , put doleites in them and get tax relief against the money i use to buy the houses, also the earnings build up my pot furthur.

[ollie]

I use a virgin money pension. You can set up a direct debit for a set amount each month or phone and pay as little or as much whenever you want to using a credit/ debit card.  http://uk.virginmoney.com/