Planning For Retirement?

Will you have enough money for a contented lifestyle?

1. Have YOU started thinking about retirement? It is NEVER too early to start planning for retirement – however it can certainly be too late. Don’t get into that situation. Every small step counts.

- Did you know 80% of Australians over 65 receive an aged pension? Soon this increases to 95% for who the pension is their main source of income.

2. When do you start your planning? Now! Your main aim is the need to focus on the lifestyle you want in your retirement, then how you plan on getting there.

3. What is a contented lifestyle for YOU? This could mean being able to pay bills without financial stress, enjoying holidays where and when you like, maintaining your house and car along with an occasional pampering.

- Did you know previously it was assumed the first ten years of retirement would be the most active for you and obviously the most costly? However with longer life spans and increase of health and mobility issues this could change.

It’s now very possible that you will live longer in retirement than the years that you worked. Let’s ensure you don’t run out of money.

4. What should your plan include? Dare to dream. Our Property Millionaires have formed a Club and their motto is “Living the Dream”. They are now doing things that they never thought was possible. So don’t live longer than your dreams. Let your imagination go.

What lifestyle do you want? Jot down things on an average day, an average week, an average month, average year that you like to do and things that you would like to achieve. Like setting out on a car journey you are working out how much petrol that you are going to need to arrive at your destination. Using Property Club's guidance, you need to think carefully about the lifestyle you want because we want you to achieve it and we are going to help you achieve it.

5. What if your plan changes? Remember a strategy doesn’t need to be ‘set in concrete’. You can make your goal adjustments along the way. What you imagine now may look different ten years down the track as you are approaching your 50s.

6. Will your Superannuation fund your contented lifestyle? Definitely Not! The intergenerational report shows that in 2050 after a lifetime of paying into super, then retirees will still run out of super after 5 years. The sad fact is that super serves only the finance industry and not you. The 9.5% is simply inflationary, costing you money while you are working and supporting you for only 5 years in retirement. “If it is going to be, it’s up to me” has never been truer. This is a wake up call! If you want a wealthy lifestyle and don’t want to live on $325 per week pension then you have to take action. There are loads of so called gurus out there providing what my 50 years of experience knows as false information. Most will outlive their superannuation savings.

7. What is your solution for your retirement? Property has long been considered a proven road to personal wealth and financial security with only 20% of Australians investing outside of the family home.

- Did you know that you can use the equity in your family home to start on your journey towards a contented lifestyle and financial security? Once you start on this journey over the years you can access the equity out of your investment properties. While you are working you have 3 people assisting you with your financial security – they are the ATO with your taxable deductions, the tenant who pays the rent and yourself. You can never create your wealth without contributing yourself.

The earlier you start planning for retirement, the greater your chance of having the choices you desire and living a contented lifestyle.

Happy Investing, Kevin Young | Club Founder