There’s no secret that when it comes to investing, your money will grow better in an asset like property instead of a “high interest” savings account with your bank.
And new research by Canstar has revealed that if you bought a home in Sydney in March at the median house price of $1,112.671 with a 20% deposit ($222,534), you would experience a property value rise of 16.3 per cent, or $181,365 by September!
If we put that same 20 per cent into a six-month term deposit high-interest savings account at the same time (which was 0.99 per cent interest), you would have earned just $2203 in comparison.
That’s a huge difference of $179,162!
Now sure, you may be looking at this and thinking “but I don’t have that kind of deposit or borrowing capacity”, and you’re right. There are not many who are in the position, but it does highlight an important lesson.
And that is, that investors know how to utilise and grow their money in order to put them in a better financial situation.
Sure, there are many investors who have the bank of “mum and dad” to thank but the majority of investors and our clients are just like you. Regular Australians in regular jobs who want to create their future on their terms.
So if you feel stuck and want to know how you can improve your financial situation with a realistic and practical strategy specific to your current situation and needs, get in contact with us today.