So sorry guys, it seems there is a problem with my video. The final points were: 1. When building up portfolio and passive income, time needs to be invested initially (sometimes years in business), but then you should be able to become more hands off. In business, the goal is to set up systems and hire staff to help you 2. Earned income is not bad, because it provides stability and peace of mind. However its important to know that there are other income types, which also help to reduce your dependence on employment. Thanks so much for watching! My next video will be full length! 😅
I know! I'm so sorry, it seems there is a problem with my video. The final points were: 1. When building up portfolio and passive income, time needs to be invested initially (sometimes years in business), but then you should be able to become more hands off. In business, the goal is to set up systems and hire staff to help you 2. Earned income is not bad, because it provides stability and peace of mind. However its important to know that there are other income types, which also help to reduce your dependence on employment. Thanks so much for watching!
Also for your knowledge or anyone reading, when investing in property through ltd company, you can withdraw cash tax free by lending the company funds for the property deposit in the form of a dirrector loan so your not paying income tax after incurring corporation tax
Hello 👋👋 I am from Pakistan I agree 👍 excellent video. I have an Active income Job, which I manage monthly expenses+: My saving emergency funds. I have profolio Income ( I am precious metals Gold Bars stacker) I have 2 Passive incomes Agricultural Land Rent+ My house on Rent downstairs portion
Thank you Kiran, i see you have kind of addressed my query from your previous videos on here in the tax implications section. So for a higher rate tax payer who has property in their name lets say recieves 10,000 income (10,000*40%) is 4k tax. In ltd company it would be 10,000*19 which is 1900 and another 33.75% dividend tax which is 9000 x 33.75 after dividend personal allowance which totals another £3375. If you leave it in ltd company with no dividend withdrawal tax will be £1900. Not that you will read my lengthy comment but correct me if im wrong. Ltd company is only better if you dont withdraw cash and use profits to invest in more properties even if you have a £75000 job. Withdrawing from ltd is expensive
