This week’s budget announcement was yet another wake up call for those drifting through life hoping that Super will look after them in retirement. Those are people destined to be among the 95% of Australian retirees living a very poor lifestyle.
We know the Government is gradually pushing the retirement age up. Soon it will be 70 and then 75. This is logical because it used to be age 65 with the average person living just a further 3 years. Now the average age of a male is up to 85 years.
There is now a further attack on the 326,000 current pensioners deemed to have too many assets. They will lose their part pension and associated benefits.
So be warned – take action now because Super won’t cut it. It will probably run out after 5 years and you will end up on the poverty pension.
So what’s the solution?
Well located, brand new property with few sudden cash flow shocks. Property that’s located in areas of high demand, pushing rents up, yet in areas that’s very hard to oversupply so that steady capital growth is maintained. Then in retirement, after values have increased, simply borrow against these growing assets – tax free!
OK, there is a rumour out there that when you retire you can’t get loans. This was true temporarily thanks to Luci Ellis at the Reserve Bank. A shaft of light is coming through now with funders opening up loans to asset rich retirees. Property Club has had numerous proposals to the federal government that funders should be encouraged to make asset loans to retirees. Forcing them to progressively sell their assets to live on is akin to cutting down a tree to get an apple. What happens when you want more apples? They’re gone!
So the budget was a wakeup call. Are you listening? My suggestion is that you contact your Property Mentor (and if you are not a Club member yet – join us – membership is free). Your first step is to get a financial analysis done to assess your situation. Are you paying too much to your bank and can we help you to reduce it?
The next step is to use our software program to see how you can buy an investment property without using any of your hard earned cash. This will then show you, fairly accurately, the small amount of cash you will have to put in each week to maintain the property while rents grow until it becomes cashflow positive.
Your Property Mentor will then use another software program – and all of this is free – to work out how many properties you need, and where, that could give you the wealthy retirement you deserve.
So the ball is in your court.
Will you be retiring with just one property, as most property investors will do?
Will you be cursing that you bought the wrong property that handcuffed you with a steady stream of cash demands, preventing the expansion of your property portfolio? Make that call today and change your life!
As a Club member your safeguard is that we’ve helped thousands of members build million dollar property portfolios. Property Club members represent just 0.6% of Australian property investors and yet a massive 11% of those are successful property investors with four or more properties. Join the winners!
I discovered the secret of accumulating wealth in 1971 and retired in 1974. Property Club has hundreds of Property Mentors standing by to tell you how you can learn these secrets.