u/PsychologicalFox3962

I am needing to sit down with someone to go over my finances, planning, pension etc. I also would like advice on finances relating to being a landlord. Pretty much someone who can look at all my incomes, outgoings and savings and advise what sort of position realistically I’m in.

Been putting it off for ages as scared of the answer being that I’m in a bad position. My friends all have inheritances coming and have their parents financial input for many more years than I have (both parents died in my 30s), I am now closer to 50.

Who am I looking for to help me with this? Thanks

I inherited a small house about 15 years ago and rent it out for £675 per month (2 bed terrace).

I’ve hit the 42% tax bracket from last year meaning the profit is only about 3k per year now after tax, insurance and letting agent fees.

Its going to need a new kitchen at some stage and some general tlc. It has long standing tenants just now that take good care of it but obv wear and tear happens.

Its not a house thats worth a huge amount of money, and the previous £6k profit per year was enough to offset my worries about keeping it on.

I just worry that a whole year of renting isn’t even giving me enough to be sure I can cover upgrades / big works.

Having a bit of a wobble and wondered if anyone could give me any advice - please be kind! This was my family home.