How to secure a comfortable retirement

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Can you afford your retirement?

80% of Australians rely on the pension for their retirement, with the current pension payment sitting at $2500 per month for couples. But to retire in comfort, the average couple needs at least $5000 per month.

By investing in property and gaining returns year on year, you can ensure that you get the retirement you deserve – and the sooner you start the better.

 

Invest in property

Investing in property is one of the best ways to secure your finances for a comfortable retirement. By investing in property, you will invest in an asset that accumulates value year-on-year – as long as you have sought expert advice and purchased in a high growth area. Unlike traditional savings accounts, property can provide you with significant profits in a relatively short period of time, so whether you are in your thirties and planning early, or your retirement is just around the corner, there are options for you.

 

Maximise your superannuation

You’ve likely been paying into your superannuation fund for years – but how much do you really know about how well its working for you? There are steps you can take to maximise your superannuation pot. You could shop around for the best rates and investment options that suit your goal (for example, some will be higher risk but higher reward, which may work for some but others may not be comfortable with). There is also the option to make extra superannuation contributions, or even to consider a self-managed superannuation fund, which gives you more freedom to choose your investment options.

 

Maximise your income

Making small strategic changes to your financial circumstances can have a big impact. This means doing an audit of your finances and scouring for potential savings – perhaps you have debts that you could consolidate, or you could shop around for a new home loan deal to lower your mortgage repayments or term, or you could create a budget to generate extra savings each month to contribute to your financial goals.

 

Ensure you’re not paying too much tax

When it comes to property investment, there is a huge array of tax claims you can make that will reduce your overall bill and giving you more to save in your retirement. When you invest in property, you can use the deductions to not only save on the income you generate from rent, but also on your salary and other income. Reventon’s property investment and accounting services can help you make the most of your money and may reduce your income tax – in some cases, up to 20% of your total tax bill.

 

Get support from Reventon

Financial security is the top factor that influences Australians as they choose when to retire. In most of the cases above, it will be hugely beneficial to get expert advice. The team at Reventon can shop around for superannuation or home loan deals, give you the latest insights and advice for investing in property, and organise your taxes so you’re maximising your income. To get started, book your free consultation with a Reventon expert today.

 


 

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