I do not relate to the word retirement, as I cannot see myself not helping and assisting people grow their wealth through property.
But, if that is your goal, what does retirement look like?
Start with the end in mind. Holidays, restaurants, travel, hobbies etc.
How much income per annum per week do you need in retirement?
$1.5M invested at 4% gives you an income of $60,000. Is that enough?
I have read that Super saved over 12-15 years is spent in 6 years, so how would that leave you?
As you would have read before I am totally biased towards property as over the past 40 years I have seen what it can achieve for people. It always gave me pleasure in knowing that whatever property I sold someone that it would double it’s value in 7 to 10 years.
So how do you intend to get to that magical number that you have in mind for yourself?
I say, make property work for you, not you work for the property and plan ahead.
Look at where you are, think about where you want to be, and set a course that will help you reach your destination.
For example, experts say that 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.
Don’t be afraid to 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.
Hint: People LOVE to share what they know. Don’t you?
It may sound like I am going on about this stuff, but I also know that 85% of all Australians retire on less than $35,000 and I do not want that for YOU!
And if you want to read some advice from Warren Buffet click here:
Property investing can give you the financial freedom to chase after your dreams and do what you love to do.
