Over 100% of GDP. £3 TRILLION of debt. Your Plan B

The Property Nomads Podcast

Rob discusses the current economic challenges facing the UK, particularly the alarming national debt that has surpassed £3 trillion, exceeding the country's national income. He examines the implications of this financial situation, including the potential for inflation and the importance of being proactive in managing personal finances, and offers practical advice on safeguarding assets, such as acquiring physical gold and silver as inflation hedges

KEY TAKEAWAYS

• The UK's national debt is projected to exceed £3 trillion, surpassing 100% of national income, which poses significant economic challenges and could lead to inflation and devaluation of the currency.
• Inflation increases the price of goods and services, effectively reducing the purchasing power of currency. It's crucial to recognise how inflation can impact financial stability.
• Acquiring physical gold and silver is recommended as a hedge against inflation and economic instability. These metals maintain purchasing power over time and carry no counterparty risk.
• Having a knowledgeable team, including tax accountants and financial advisors, is essential for navigating property investments and maximising tax efficiency, especially in a challenging economic environment.
• Considering temporary or permanent residency in other countries can provide a safety net and potential tax benefits. It's advisable to have a plan B in case of worsening conditions in the UK.

BEST MOMENTS

"Britain's got a bit of an issue at the moment and that's in terms of its debt... the debt of Great Britain is likely to exceed £3 trillion."

"Inflation is the stealthiest tax of them all... it means that the cost of that good or service has gone up by 5%."

"If you own the physical gold yourself... there's no counterparty risk. A government cannot print physical gold."

"If you think there's a lot of economic stupidity coming down the line... then looking at gold might be a very good idea for you."

"If you don't have a temporary residency in a different country... then do look at obtaining that and be quick about that if you can."

VALUABLE RESOURCES

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BOOKS

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Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast