The new pension changes have enabled more freedom in taking out the pension, influencing the older generation to set up a business and become entrepreneurial, as well as investing their money in other things such as properties. As cheesy as this may sound, these lenient pension funds mean that dreams can come true for the older folks and The House Crowd are seeing more people over 50 involve themselves with property investment across Manchester, through crowdfunding, which we are thrilled about.
According to The Global Entrepreneurship Monitor, the over 50s are becoming more entrepreneurial due to the new pension pot freedom rules, enabling them to have the opportunity to achieve their goals. They can dip into their pot when they want and have the option to either take out a large lump sum of money, or in multiple amounts and have the first 25% tax free. We always believe that no one is too old to dream or get what they want, which is just another reason why property crowdfunding is perfect.
Unfortunately, the financial crisis had a damaging effect on the 50+ group due to job losses, employers employing younger members of staff, cheaper staff and assuming the older folk have less experience, which isn’t necessarily the case.
The House Crowd welcomes investors of all ages to join the revolutionary crowdfunding family. So whether you want to dip into your pension pot or you want to start early on setting up a safety net for the future, start your property investment in Manchester with The House Crowd.