Dream Design Property Founder Asks: 'Will You Be Able to Retire Without the Government Pension?'

Press Release (ePRNews.com) - SYDNEY - Jul 10, 2018 - Dream Design Property Founder Zaki Ameer says, “When it comes to retirement, it should be a time to relax and do all the things that one never had time to do during a working career.” Perhaps a few rounds of golf, a trip overseas, a cruise or just relaxing in the sun, knowing that all finances are in good order.

Whether the pension is enough or not depends purely on lifestyle and expectations. Take the time to work out what the desired outcomes are during the golden years of retirement, taking into account that the current fortnightly pension is around $1300 per couple or $907 for singles.

Is that enough? If not, then now is the time to start investing for retirement preparation. Increasing what funds will be available when employment has ceased. So:

Leverage What You’ve Already Got

The savings one has don’t matter; money taken from a bank account to pay for lifestyle will limit options. It’s far more enjoyable to have investments that increase in value, provide cash flow and enable life to be lived the way you want. To do this, use existing resources to build an investment portfolio, using retirement age as a target. Take note of all the tools that can be used, including savings and equity and then benchmark this against how much money is desired for retirement.

Start Now

Investing is always something that is put off for another day. After all, what difference does a day or a week make? But a week becomes a month and a month becomes a year, and before long a decade has flown past, and that delay can prove very costly. By starting the investment journey as soon as possible, people can give themselves the best possible chance of having the retirement that is desired.

Become an Investment Professional

Build wealth consistently and sustainably using the expertise of those who specialise in respective fields, using knowledge, and genuine accountability. This means not only taking responsibility for retirement, and the legacy left for children, but also measuring success, making changes where required, and improving investment portfolios.

One way to improve an investment portfolio is through property investing. To build a robust portfolio that will continue to grow in value through numerous cycles, the focus must be placed on the properties themselves. By leveraging financials, and failing to invest as wisely as possible, many thousands of dollars can be lost, and investment journeys lengthened. Take time, look at investable capital as a resource to be allocated, and strategically purchase the property that is most likely to assist in achieving investment goals. It is recommended investing in properties under 500k that are positively geared.

Your Pension Becomes “Cream”

If a portfolio can be built that covers day-to-day expenses, then the payment from the government can be considered “cream.” This additional sum can pay for overseas trips, dinners out and flights for the grandchildren. Importantly, it also offers a buffer in the event the unexpected should happen, and emergency money is required. Many hard-working Australians have found themselves in an untenable position because they don’t have enough savings to cover costs when something terrible happens.

Whether or not the Australian pension is enough to survive on, individuals & family will only benefit from having more money available during the golden years. By putting aside a little bit of time every month, and committing to growing personal wealth, retirement could be the best time of one’s life.

Zaki Ameer | Founder | DDP Property

Source : DDP Property Dream Design Property

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CATEGORIES : Real Estate

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