TAKING YOUR MORTGAGE INTO RETIREMENT
YOU KNOW AFTER ALL IS SAID AND DONE, MORE IS SAID THAN DONE.
I don’t think it’s just me, but in recent years we all seem to be far too busy. The term is time-poor. The problem with this is the important things or plans get pushed aside or forgotten. Then one day, to your shock horror, you realise that you have missed the boat, it’s too late. One of the largest issues is owning your home. Most just struggle on and think maybe I’ll own it one day, or do we think about it at all. Well if we do think about it, what have you done about it. Remember it’s the action that’s going to help, not the thinking.
Leaving your largest debt in the hands of the Banks is a sure way to ending up in a disappointing, frustrating, position when coming up to retirement years. Not what you wanted. Most have dreams but don’t follow through and the end result could be disappointing for you. Whoops… “what have we done? Time went so fast.”
There are more and more families taking their mortgage into retirement. The latest figures tell us that this has now become serious for Australians, and it must be addressed.
In 1990 14% took their mortgage into retirement.
In 2019 50% took their mortgage into retirement.
These figures are alarming. This has never before been addressed and now is the time. The Bank has possibly shown a profit of six houses out of your mortgage payment over 30 years or more, while you work and work and get one. Looking at the big picture, that’s a very high interest you’ve paid.
There are ways to stop the route though. Using what is the most secure and productive investment vehicle in Australia you can be out of debt as quickly as you possibly could. With property, it is possible to get out of debt to that mortgage in a few years and also secure the remaining years. Now the Banks get one property and you get to keep six properties for your trouble. That’s a big leg up into retirement.
The property offers 3 bedroom investment properties, 4 bedroom properties and then there are the brilliant dual key properties. Either will serve the purpose of having you out of debt much earlier than what the Bank’s business plan will ever do. You could be successful in eliminating that mortgage in 3 to 8 years. Would that change our lives? The 3 and 4 bedrooms properties will help you immediately. If you earn enough equity you could get two properties and if they’re structured properly, that could get you out of debt even quicker. Wherewith the dual key boasting two incomes and with massive depreciation benefits the dual Key could pay its own mortgage and your mortgage payment as well. The Smart Design, which is designed for this will work even harder. Exciting.
But please remember to maximise the results this has to be structured correctly and that’s why it’s a job for a professional, so please give us a call for further information.
When I was in my mid 30’s I was semi-retired. I’d go and see the guys with all the responsible jobs and tell them I only work six weeks a year and travel the rest or do what I wanted and they were amazed. “Where do you get a good job like that,” they would ask.
If you’re looking for a lifestyle for the future, then I know where you can find it.
Don’t settle for a time-poor life or the results of being time-poor,