Retire in comfort and confidence
Financial security is the top factor that influences Australians as they choose when to retire. Investing in property is one of the best ways to secure your finances for a comfortable retirement and make the most out of life post-work. Here are five benefits to investing for retirement.
1. No more relying on your pension for retirement
The current pension payment is $2500 per month for couples. But to retire in comfort, the average couple needs at least $5000 per month. Could you afford it? 80% of Australians rely on the pension for their retirement. By investing in property and gaining returns year on year, you don’t need to be one of them. The sooner you start the better.
2. Cut down your mortgage
It might seem strange that investing in property can help you cut down on your current mortgage. As we reach retirement age, many of us consider downsizing and moving out of the area we know and love. But before going down that road, consider making small strategic changes to shorten the payback time of your current loan – without moving home. By investing, you could pay off your mortgage much sooner than you think. Each situation is unique, so consider getting free investment advice tailored to your situation.
3. Reduce your tax – by up to 20%
There are plenty of tax deductions you can make when investing in property. You can claim the interest on your investment property loans, as well as expenses like management fees, accountant fees, insurance, utilities and general running costs. Find out more about tax deductions you can claim on your investment property
4. Investment is more affordable than you think
Many people think they can’t afford to invest. But when you purchase a rental property, each month your tenants are paying off the vast majority of your investment. With deductions, the taxman is also paying a chunk. This means you can own an investment property from as little as $50 per week and see significant returns year on year. We can talk to you about ways to secure initial funding – whether that’s from savings or releasing equity from your existing assets. Talk to one of our financial planners today.
5. Use your assets wisely – reinvest your equity
Why waste time with equity tied up in your current home or savings account, when you could invest that money in a high growth suburb and benefit from the rapid increase in house prices? You’d be surprised how much you could make within just one or two years, if you choose the right suburb. Download a free suburb property report so you can compare growth and property prices in your area of interest.
Invest an hour of your time
If you want to learn more about how property investing can help secure a comfortable retirement, we can offer personal financial advice. It all starts with a chat with one of our advisors.
You’ll get a personalised investment plan for free, and you won’t be obliged to take up any of our services. Book your free investment session and secure your retirement.