Blog » Have You Thought About Your Financial Future?

Most of us are content to live day to day and not be too concerned about our future financial needs. After all, we have compulsory superannuation so we are sorted - right?

Unfortunately, for many of us, by the time we retire, our superannuation will not provide the lifestyle we desire and that additional investments are necessary to build up the nest egg.

What should I do?

Investing in property is the most favoured and easiest form of investing for most Australians. The idea of owning bricks and mortar is embedded into the Australian culture and into our upbringing. Historically property values have doubled every 7-12 years since 1930 but your mortgage payments do not. If it’s an investment property, the rental income increases over time therefore producing a cashflow positive investment for you in the long term and passive income for retirement.

That’s great, how do I start?

Many people see getting started in property investing as being “hard work”. In my experience working with first-time and seasoned investors, once the first investment property is purchased, the investors have commented that “it wasn’t as hard as they thought it would be”. Most then start looking for their next investment property, so that they can quickly build their property portfolio.

The next step for you is to start talking to friends and family members who are current property investors, to find out how they invest in properties. You will also need to find out your borrowing capacity to purchase investment properties therefore you should speak to an independent mortgage broker who works with or specialises in investors. A good mortgage broker has access to a range of different loan products and depending on your financial situation will find the best product for you. You can find them on the MFAA website (www.mfaa.com.au) as they only list accreditated brokers.

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