I have 52 years old and single. I have my student apartment and have $ 400,000 in super plus $ 40,000 in savings. I hope to do about $ 120,000 this financial year, even I would like to work a little less. I can save, although my income is a small variable as they are casual. Should I buy an investment property or buy a larger unit for me? I want to move in some stage, but I am happy where I am for now.
Congratulations to get in a solid financial position. As for the two investment options you consider you, I think you could put the cart before the horse there.
While it’s never too late to start investing, there are a few crucial considerations to keep in mind before buying an investment properties.CREDIT: Simon letch
Begin to take some time to determine your goals. You have to get here that you could work less then maybe one of your goals is to cut your hours off. Is there a particular age you want to have the retirement option?
Perhaps there are other things you would like to do, as a trip, study, or take a new hobby.
Once you are claring around your goals, you can train investing strategy using your savings ability. Such a strategy can actually turn to transform, but can also take part to your super, or build a portfolio in theft, oingtor. Embarking a strategy that does not need to loan could be desired given the variability of your income.
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Transactions waved waved properties – the stamp ibication, and then sell costs at a certain point in the future. So you want to try and avoid some short or unnecessary property.
Date you are very happy in the unit you are currently, I would suggest you are putting it. Maybe I assess you at the point of pension, when you can have more flexibility as per location.
I have just inherited my parents’ house, that I have always lived, a $ 50,000 car and $ 400,000 cash. Currently receiving a piece of part but wait to lose once the summer is installed. I am 72 in June, unique, and have 650 $ in super without debts. To my age, can I put the $ 400,000 in Super and then generate income to replace my lost age pension?