INVESTING IN PROPERTY NEAR RETIREMENT AGE?
There is no one size fits all approach to setting yourself up for retirement through property investing.
The most important thing you can do to ensure the decade leading up to it is not wasted, is to talk to the experts and devise a sound strategy.
HAVING THE RIGHT TEAM IS CRUCIAL
It ‘s important to know where you stand financially before you decide to start investing in property.
A qualified financial planner can help you explore the options available to get your investing journey started.
Speaking with a finance strategist will help you figure out where you stand in terms of serviceability.
DIFFERENT SCENARIOS REQUIRE DIFFERENT STRATEGIES
We all have different financial positions leading up to retirement.
Some people find themselves with a good cash flow and a solid amount of capital.
Others have just one or the other.
In order to make the most of whatever position you have, and not screw the whole thing up entirely, it is crucial to map out a plan that is tailored to your needs.
HORSES FOR COURSES
If you are starting on a relatively small liquid capital base, but have good income, then you could put the equity in your home to good use.
Deploying equity into a chunky development project can delivery big cash profits, in a relatively short amount of time. These can then be recycled into more purchases – and more profits. Check out this recent example from our deal vault.
Alternately, if you have a good capital base but relatively low cash flow – e.g you may have negative geared in the past, then buying strong cash flow properties may be a good idea.
A property investment expert can help you figure out what type of properties to purchase and in what order.
Let’s face it, you don’t want to turn the potential of a rich retirement into a bleak future of struggling to make ends meet.
And, there is no secret to making it big through investing over the short term – the best thing you can do to set yourself up is to talk with experts you can trust and set yourself a realistic goal.
By scrutinising your financial position, and exploring the options available, the right professionals can lead you in the right direction at every step of the way.
10 years might not seem like enough time to get your financial house in order, but amazing results can still be achieved…if done correctly.
Have you started planning for retirement? Please share your experiences in the comments section below.