How to Retire on a Property Portfolio
"The best thing about creating wealth for retirement isn’t retirement itself, it’s having the choices it gives you."
The one thing that my husband Jack and I learned a while back is we don’t actually want to retire. What we want is to have the choice to do whatever it is we want to do. Jack and I have the absolute ideal life now because we're at that point. Do we want to actually retire? No, where’s the fun in that. So retirement isn't actually a goal but the choice to do whatever we want to do is actually the goal.
The right time to plan is now!
Most people actually leave planning for their retirement far too late and so many people come into my office on the wrong side of 50 and they're starting to seriously think about retirement and that’s normal. They’re thinking how am I going to do this, how am I going to retire? And it's often not until that part of their life that they actually start thinking about it.
No matter when you start, you're going to be better off than if you didn't start. Every single person that sits down has different wants and needs and they have different incomes, are different ages, they have different timelines. Yet when we come down to it everyone wants a comfortable retirement, a stress free life, they want to help their kids, they want to be able to relax and do whatever it is that they want to. They want to have choices.
Using Property to create Wealth!
Retiring on a property portfolio means navigating the 3 stages of wealth creation. Accumulation – when you begin to use your equity and income to buy property. Acceleration – when you’re using the investment property income and equity to buy more property. And Maturity – when you get to sit back, kick back and wait because once you’ve held the property long term, the values going up, the rents going up and eventually you’re actually going to be living from the retirement side. Until you retire it’s accumulating money and paying off debt without any effort from you.
So how do you actually retire on a property portfolio? You start buying property. That's the most important part. The sooner you get the property portfolio the sooner it will start to mature. It can be quite simple and it helps if you have the right plan and system to start with. Why not call and make a time to chat about a plan that would help you retire comfortably.