{"id":18779,"date":"2022-08-08T06:00:42","date_gmt":"2022-08-07T20:00:42","guid":{"rendered":"https:\/\/trc-gorod.ru\/?p=18779"},"modified":"2022-10-04T14:55:38","modified_gmt":"2022-10-04T03:55:38","slug":"retirement-planning-tips-for-property-investors","status":"publish","type":"post","link":"https:\/\/trc-gorod.ru\/retirement-planning-tips-for-property-investors\/","title":{"rendered":"Retirement Planning Tips For Property Investors"},"content":{"rendered":"
[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|desktop” admin_label=”Section_2_Text Left:” _builder_version=”4.16″ background_color=”#FFFFFF” custom_padding_tablet=”50px|0|50px|0″ custom_padding_phone=”” transparent_background=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” global_colors_info=”{}”][et_pb_row column_structure=”1_3,2_3″ custom_padding_last_edited=”on|phone” _builder_version=”4.9.4″ _module_preset=”default” background_color=”#FFFFFF” custom_padding=”50px|50px|50px|50px|false|false” custom_padding_tablet=”” custom_padding_phone=”30px|10px|30px|10px|false|false” global_module=”16717″ saved_tabs=”all” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@” disabled_on=”off|off|off” _builder_version=”4.16″ _dynamic_attributes=”src” _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_post_title date=”off” comments=”off” featured_image=”off” _builder_version=”4.16″ _module_preset=”default” title_font_size_tablet=”” title_font_size_phone=”26px” title_font_size_last_edited=”on|phone” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding_last_edited=”on|phone” _builder_version=”4.16″ _module_preset=”default” background_color=”#FFFFFF” custom_padding=”0px|50px|50px|50px|false|false” custom_padding_tablet=”” custom_padding_phone=”10px|10px|10px|10px|false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Text_B:” _builder_version=”4.17.4″ header_3_font_size=”21px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}”]<\/p>\n
It\u2019s the Australian dream \u2013 the clock ticks 65 (or earlier) and off you sail into the sunset of retirement to live out the rest of your years stress-free. Sadly, for some, this will remain nothing more than a dream with the drastic cost of living rising and no plan to cover the shortfall \u2013 that is, unless you take onboard these retirement planning tips which could change the way you prepare for the future. Our property investment groups<\/a> is a great place to keep informed about the ever changing landscape of real estate investing.<\/p>\n The truth is, unless you can live off $500 a week then you\u2019ll need to start planning ahead now. That\u2019s because a mere few hundred dollars is all you\u2019ll get if you have $523,000 in your super by age 65 (estimating that you\u2019ll live to 85).<\/p>\n This is the approximate amount that\u00a0<\/span>Australian Super Funds of Australia<\/a>\u00a0<\/span>(ASFA) says you\u2019ll need to live a comfortable retirement, based on the assumption that you\u2019ll also receive the\u00a0<\/span>pension\u00a0<\/span><\/a>which is $36,000 per couple or $24,000 if you\u2019re single. It doesn\u2019t sound like a lot does it?!<\/p>\n Assuming you want more than to just scrape by after all those hard years of work, then these retirement planning tips are what you need to be across in order to retire stress free.<\/p>\n What is your financial situation right now? Before we look at where you\u2019re headed, we first need to understand where you are today. Do you live paycheck to paycheck? How much do you have in your super? What about your emergency fund? These are all extremely important questions that most Australians overlook when wading through life.<\/p>\n The thing about financial security is that when you have it, everything else in your life changes for the better. That\u2019s why the sooner you start creating wealth, the safer you\u2019ll feel and the more you can live the way you want without having overarching guilt or feeling stuck in your current position.<\/p>\n There are\u00a0<\/span>three basic principles\u00a0<\/span><\/a>when it comes to creating wealth. So, put aside one hour, grab a pen and paper and let\u2019s get a better understanding of your current financial situation.<\/p>\n Principle 1: Money buckets<\/p>\n Money is an energy exchange, the better you understand it, the more you\u2019ll attract. As we grow up, money is often a taboo subject, and because it\u2019s not talked about, we enter adulthood knowing nothing about money.<\/p>\n So here\u2019s your first lesson; money buckets. They\u2019re basically how you grow and accumulate wealth. Most Australians only have one thing in their bucket e.g. their wages. We know this isn\u2019t going to create wealth for a stress free retirement.<\/p>\n You need to diversify and put your eggs into other buckets. These come in the form of other assets or strategies that work alongside your wages to help build that wealth, whether that\u2019s shares, side hustles, or our favourite – real estate.<\/p>\n Principle 2: Knowing your number<\/p>\n This is asking the hard question,\u00a0<\/span>how much money do you need to die?<\/a>\u00a0<\/span>Most people pluck a number out of thin air with no strategy behind it. Actually no, most people never even answer this question!<\/p>\n To create an informed investment strategy that will allow you to retire stress free, you need to work out what you need every month to live the life you want. Whether you\u2019re after a comfortable or lavish lifestyle, you need to do the maths. If you don\u2019t know how,\u00a0<\/span>this method will take you through the process.\u00a0<\/a><\/p>\n Principle 3: Learning what grows your wealth vehicle<\/p>\n Let\u2019s be clear, property doesn\u2019t need to be your vehicle of choice for creating wealth for a stress free retirement. But, if you want an investment strategy that\u2019s safe, steady and guaranteed to look after you in the future, then you need to consider it as an option.<\/p>\n This is because real estate has always had incredibly reliable returns, and being a physical asset, it will always be around in society. The key to creating passive income from property long-term is understanding what drives growth.<\/p>\n There are six market drivers that grow real estate value:<\/p>\n This is explored further in tip number five!<\/p>\n Once you are across the money principals above, the next step on the retirement planning tips list is to set some goals! Take note of the words \u2018specific\u2019 and \u2018actionable\u2019 – we\u2019re building an informed strategy here. There is no substance to saying \u201cI want to have five investment properties in 10 years\u201d with no action steps to go along with it.<\/p>\n With any investment comes risk, and when we talk about risk in real estate, we\u2019re essentially gauging how willing you are to expose yourself to loss and how you adapt when things go wrong.<\/p>\n As property investors, risk is all part of the buying game, so understanding your\u00a0<\/span>risk profile<\/a>\u00a0<\/span>is crucial to your overall success. Once you know where you sit on the risk scale, this will help better inform what kind of specific and actionable goals you should be setting for your retirement plan.<\/p>\n Once you\u2019ve got your goals set in stone, you need to create an action plan that you can live by each day. A budget need not be complicated, the simpler it is, the easier it will be for you to follow. A good way to start is to track every dollar you spend for at least two weeks – if you can do one to three months, even better.<\/p>\n You can do this on a rough piece of paper, or if you\u2019re the king or queen of organisation then you\u2019ll find joy in knowing there are heaps of\u00a0<\/span>budget templates<\/a>\u00a0<\/span>out there to set you up. Once you know where your money is going, you\u2019ll be able to spot patterns. Where are you wasting money? What areas can you cut back on to increase your expendable income?<\/p>\n Make budgeting fun! Yes, it\u2019s important to plan for your retirement but do it in a way where you can still indulge in those things that mean most to you. The key to budgeting is identifying and cutting back on your frivolous spending that doesn\u2019t help your financial situation at all.<\/p>\n To ensure a stress free retirement you need to eliminate all of your debt \u2013 both the good and the bad \u2013 before you put in your notice.<\/p>\n For example, if you have a home mortgage and\/or consumer debts (aka bad debt), focus your efforts on paying these obligations off as a first priority.<\/p>\n Bad debt<\/a>\u00a0<\/span>is one of the top factors that holds back real estate investors. A lot of people are living on borrowed money without creating a financial outcome from what they are borrowing.<\/p>\n Potentially one of the most important retirement planning tips is to eliminate bad debt. It is the cleanest way to fix your credit profile and surge ahead as a property investor. Rip up the credit card and get rid of the car loans and those pesky Afterpays.<\/p>\n This will free up the funds you need to supplement your super, add to your emergency cash and perhaps buy your first (or next) investment property.<\/p>\n As previously alluded to, property investment is the go-to investment vehicle for creating wealth when it comes to retirement planning because as we say, real estate is a marathon not a sprint. When it comes to retirement, you want a vehicle that delivers consistent results over the long term.<\/p>\n Residential real estate has provided quality returns over the past 20 years, matching Australian Shares and outpacing inflation. In fact,\u00a0<\/span>a report<\/a>\u00a0<\/span>from the ASX and Russell Investments released in June 2018 examined the returns of long term investments.<\/p>\n It found from the 20 years to December 2017, residential investment property saw better gross returns than the share market.<\/p>\n Investing in property for the first time can be exciting and thrilling. It can also be very, VERY confusing, and not to mention scary. This is your future, there\u2019s a lot of money at stake and understandably, you don\u2019t want to stuff it up.<\/p>\n As a\u00a0<\/span>beginner to property investing<\/a>\u00a0<\/span>there are some important things to remember and steps to take if we want to get off to the best start.<\/p>\n If this is all new to you then exercise some patience and do some really great, diligent research. The right property for you to buy may not be in your street or even in your state.<\/p>\n Take some time to research real estate markets around the country. Remember the six market drivers we discussed in tip one that grow real estate value? Those are called\u00a0<\/span>macro drivers<\/a>\u00a0<\/span>and they will help you determine what city or state to buy in. For example, cities with infrastructure developments will likely attract people to the area and lead to population growth.<\/p>\n Then there are also\u00a0<\/span>micro drivers, which tend to be seen more likely in suburbs or towns.<\/p>\n The micro drivers are:<\/p>\n For example, when looking at suburbs or towns, you want to be looking for the \u201cworst\u201d house on the best street, (owners established benchmark) this allows for an opportunity to add value to reach the market-rate of nearby properties.<\/p>\n Another great way to see if a micro market will grow is to determine\u00a0<\/span>average income versus average house price,\u00a0<\/span><\/em>in other words, if wages are high and house prices affordable, the property market can rise in value.<\/p>\n Now you know the benefits of property and what it takes to retire stress free by calculating your magic number based on your retirement living goals \u2013 great! But how do you go about building a property portfolio that reflects that?<\/p>\n Two things \u2013 you need the right team and the right strategy.<\/p>\n The key to seeking advice is to get it from someone that is doing what you want to do. As much as you love your friends and family, unless they\u2019re very savvy property experts who have spent years staying up to date with market behaviours and patterns then, it is likely that<\/p>\n their concerns and strategies will not make sense from an investor\u2019s perspective today. Their advice may actually be the opposite of what an educated, experienced property investor would suggest.<\/p>\n In order to successfully use property as a wealth creation vehicle you need to assemble a six-star team to manage your portfolio. This team is comprised of:<\/p>\n Most people end up as the statistic of\u00a0<\/span>99% of investors who fail in property<\/a>\u00a0<\/span>because they don\u2019t ask experts for help. Our team of expert coaches and mentors can help you on your way to becoming one of the one per cent. The one percent of Aussies who are successful property investors.<\/p>\n SET UP YOUR RETIREMENT PLAN TODAY<\/strong><\/p>\n Before you even buy your first investment property, you should have a plan in place that includes these retirement planning tips. You know, as the saying goes, if you fail to plan you\u2019re planning to fail.<\/p>\n If you\u2019re ready to get started in your real estate journey so that you can retire stress free, then sign up for our next\u00a0<\/span>free property investing masterclass<\/strong>.<\/a>\u00a0<\/span>These high value events are packed full of information about where the markets sit right now, how to invest both wisely and smartly, and it\u2019ll connect you with the\u00a0<\/span>TRC-Gorod team<\/a>\u00a0<\/span>who have been dominating the property investing industry for over 20 years.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.14.5″ _module_preset=”default” global_module=”17326″ saved_tabs=”all” global_colors_info=”{}”][et_pb_row column_structure=”1_3,1_3,1_3″ disabled_on=”off|off|off” _builder_version=”4.16″ z_index_tablet=”500″ global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/trc-gorod.ru\/wp-content\/uploads\/2019\/07\/Thumbnail-come-to-a-live-event.png” url=”https:\/\/trc-gorod.ru\/blog-pin-register” align_tablet=”center” align_phone=”” align_last_edited=”on|desktop” admin_label=”Image: Come to a PIN” _builder_version=”4.16″ z_index_tablet=”500″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/trc-gorod.ru\/wp-content\/uploads\/2019\/07\/Thumbnail-subscribe-newsletter.png” url=”https:\/\/trc-gorod.ru\/web\/subscribe-to-our-newsletter\/” align_tablet=”center” align_phone=”” align_last_edited=”on|desktop” admin_label=”Image: Subscribe to the Newsletter” _builder_version=”4.16″ z_index_tablet=”500″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/trc-gorod.ru\/wp-content\/uploads\/2019\/07\/Thumbnail-join-tribe-of-investors.png” url=”https:\/\/www.facebook.com\/groups\/passionatepropertyinvestors\/” align_tablet=”center” align_phone=”” align_last_edited=”on|desktop” admin_label=”Image: Join our Tribe” _builder_version=”4.16″ z_index_tablet=”500″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row padding_mobile=”off” column_padding_mobile=”on” admin_label=”Row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”40px|||” make_fullwidth=”off” use_custom_width=”on” width_unit=”on” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.16″ _module_preset=”default” header_4_font_size=”42px” custom_margin=”||0px||false|false” custom_padding=”||15px||false|false” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_blog fullwidth=”off” include_categories=”1,65″ excerpt_length=”100″ show_date=”off” admin_label=”Blog Feed” _builder_version=”4.16″ header_text_color=”#00afff” body_text_color=”#95989a” body_font_size=”13″ meta_text_color=”#95989a” meta_font_size=”13″ border_width_all=”1px” border_color_all=”#ffffff” border_style_all=”solid” border_width_all_fullwidth=”1px” border_color_all_fullwidth=”#ffffff” border_style_all_fullwidth=”solid” use_border_color=”on” border_color=”#ffffff” border_style=”solid” use_dropshadow=”off” global_colors_info=”{}”][\/et_pb_blog][et_pb_code _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]TIP 1 – CRITICALLY EVALUATE YOUR SITUATION\u00a0<\/h2>\n
\n
TIP 2 – SET SPECIFIC AND ACTIONABLE GOALS\u00a0<\/h2>\n
TIP 3 – SET AND FOLLOW A LIVEABLE BUDGET<\/h2>\n
TIP 4 – PAY OFF DEBT<\/h2>\n
TIP 5 \u2013 COMMIT TO BUYING INVESTMENT PROPERTY(IES)<\/h2>\n
TIP 6 \u2013 LEARN TO IDENTIFY THE BEST MARKETS<\/h2>\n
\n
TIP 7 \u2013 BUILD A PROPERTY PORTFOLIO\u00a0<\/h2>\n
TIP 8 – ENROL A TEAM OF EXPERTS<\/h2>\n
\n
Recent Articles<\/h4>\n