What does retirement mean to you?
Does it mean, being able to spend more time with your family and loved ones, or is it traveling the world (well, majority of us are waiting to travel thanks to Covid), or does it mean being financially free to do what you want when you want without having to worry about money?
Most of us want to retire early whilst, others are ok waiting to hit retirement age to access their super and unfortunately, some will continue working well past retirement age.
We all have our own definitions or what retirement looks like to you
You may be eagerly looking forward to following in the footsteps of those from our parents and grandparents’ generations, but the uncomfortable reality is that our retirement is no longer guaranteed.
Just look around at the people you know.
How many do you know have retired? Are comfortably retired? Have a plan for retirement?
Many feel that our superannuation contributions will helps us retire comfortably in the future, but depending on when you started your super arrangement, how many years you have till retirement, and the contributions made, will define exactly how you will retire. Don’t get me wrong, super contributions are fantastic, they provide a well needed lifeline for all Australians.
Life expectancy is also on the rise, which is great news for the health of Australians. However, longer life expectancy means longer retirement which means, you need more money which is often more than our Superannuation can provide.
So, we need to start to take an active interest in our retirement plans. As Business Consultant, Marshall Sylver said, “either you make your money work for you or you will always work for your money”.
Increasing contributions is great, but what’s greater is investing your money to guarantee your retirement and the future of your family, and property is the best investments anyone can make.
Will it make you money?
Will help you create freedom on your terms?
Is it the best way to create wealth and safeguard the future of you and your family?
Yes. Ask any millionaire how they made their fortune and over 90% will say, with property.
I’m not saying you want to be a millionaire, most don’t, they just want to be smart with their money, and make it work for them so when they retire at 65 or 35, they have options thanks to their financial situation.
So how do you begin to create your retirement plan? There are 8 steps below to helping you put a spotlight on when and how you want to retire.
- Get Started on a 10-Year Plan.
- Assess Your Current Situation.
- Identify Sources of Income.
- Consider Your Retirement Goals.
- Set a Target Retirement Age.
- Confront Any Shortfall.
- Assess Your Risk Tolerance
- Consult a Financial Advisor
These are the very first steps to taking control of your financial future, the next step should be to contact us so we can show you how property can create the future you want, the way it has helped us improve the lives of over 750 people these past 10years because the retirement crisis is getting ready to hit Australia, so it’s best to be prepared.
When considering an investment property with positive cashflow, it is important to make sure it is suitable to your specific financial goals and objectives. Remember to do your due diligence and if you need advice, JR Prosperity Partners can help you decide if this is the best strategy for you. Contact us today on 1300 522 562 or email: firstname.lastname@example.org