Aussies retire rich, retire early with property
If you're a Brisbane or Gold Coast professional, and you want to retire rich, and hopefully early -- and not with just a miserly Superannuation... read on.
This week I learned all about investing in direct property (with gearing) through a SMSF (Self-managed Super Fund) - what a great idea to grow net wealth and protect family assets. I'll tell you more about this in future Hubs.
Looking to Get Started with Investing?
I know some rare people build a property portfolio after many hours of learning and planning, but you don't have that kind of time! I've got a feeling you just want someone knowledgeable (and non-sales oriented) to explain and show you the property investing options. I know just the person to help with the looking; a friendly wealth coach with 3,500 facebook friends (or so!).
Being a fairly high income earner, you may want to offset your taxable income with lots of tax deductions. If you invest in new property, you'll be able to claim depreciation on the building at 2.5% for 40 years - and then there is depreciation on fixtures and fittings.
Getting Over Fears of Investing
Sometimes it takes a big leap to get started - in a previous hub I talked about emotions in investing. I also mention in my book (Sack Your Financial Planner) that "fear and greed are the enemies of sound investing". These two emotions rule the markets, causing Booms (greed) and Busts (fear).
So why do people not want to buy property at the most opportune time, when no-one else is, (like now)? It all comes down to using others actions as a guide for our own (social influence). This is a very powerful psychological force to go against.
Another fear factor is previous poor results. I've read lots of bad property investment stories and most times it came down to people trusting 'investment advisors' (or occasionally rotten apple real estate agents) and attending 'free' investing in property seminars. These seminars are often the front end of a slick sales system that sells over-priced new developments.
New Developments - Buyer Beware
Every new property development does need sales, just as Brisbane CBD apartments do, but you must know the market rates and check your unhelpful 'advisors' do not receive 20% commission on purchase!
In this case (see link), buying property through a wealth coach is no more expensive for you than buying straight from the property's real estate agent. You also get the bonus of a wealth catalyst's questions to aid your decision-making. You are open to use whatever broker/lender you choose, and your regular accountant, etc.
Plus, there is no slick sales pitch to persuade you to just one track -- it's all based on what YOU want from an investment, i.e. capital growth and maximum tax deductions, or easy cash-flow with high yield property in the hottest town in Queensland.
If you enjoy company while you learn about creating wealth, optional $30 MoneyFlow workshops are also available (where you get to play a really fun cash flow game!).
- Brisbane Property Investment
Investing in property in Brisbane or Gladstone has never been so easy, and we discuss the ideal time to buy, tax benefits, growth vs cashflow/yield, and more.