The fact is that we will live longer and healthier and consequently need to think carefully about how we will sustain ourselves in our retirement. In fact, you are never too young or old to think about this. In fact the sooner you start the better.
So, ask yourself this question; ‘What does my retirement look like’ and work backward from there. Start with the end in mind. How much income would you need in retirement? What sort of lifestyle would you want for yourself? These are important questions to ask yourself.
I read somewhere recently that; Superannuation saved over 12-15 years is spent in 6 years. So how much would you need to retire on and how will you get there?
I might be biased, but property has always been my focus. In Victoria it has always been ‘steady as she goes,’ with property doubling in value every 7 to 10 years. So why would you consider anything else?
Plan ahead
A savvy way to look to the future is to “hope for the best and prepare for the worst.” Look at where you are; think about where you want to be, and set a course that will help you reach your destination.
In this economy it takes about six investment properties to achieve financial freedom. If you purchase wisely, across a number of marketplaces, with generous buffers and quality insurance in place you’ll not only take advantage of the great wealth creation that property investing is, you’ll hedge against falling values by keeping your portfolio diversified.
Ask for help. You “don’t know what you don’t know.” That’s why it’s important to ask for help from people who are where you want to be, such as active and experienced property investors.
People LOVE to share what they know. Don’t you?
Do what you love ?It’s been said… and it’s so true… that if you do what you love you’ll never work a day in your life!
Property investing can give you the financial freedom to chase after your dreams and do what you love to do.
Make property work for you, not you work for the property.