I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...
@@IbrahimIsabella-00 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@IbrahimIsabella-00 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
One of the most briIIiant investing advice i have ever gotten on youtube came from watching an interview with Julianne Iwersen Niemann on CNBC. Indeed, A solid investment strategy is like a well-planted tree-it can withstand storms and still grow strong
I can only speak from my experience when I advise seeking professional advice. It looks like a smart bet if you don't know where to get an experienced one, but if you don't know anything about the market.
It’s definitely heading that way; also as the Australian property market is a house of cards need to balance a good one that’s not too expensive when inflation & rates explode more again in the near future.
Great video..we r currently in a townhouse in a really good suburb in sydney . Nowbwe are really confused whether we should take a bit of a risk and really big mortgage 😅n invest in a bigger home ( probably older construction) to get good appreciation down the road or should we continue to live in this one and buy smaller investment properties .Could you please reply or do a video on a situation like this too
Great video! Thanks for sharing 😀 just wondering.. I know you've done the majority of your house's renovations to save money but for non diy people who want to add value but need professionals.. do you need to have the cash for this on top of your deposit and legal fees etc or is there another way?
You can potentially finance renovations with the bank. We've paid tradies for some key jobs like plumbing, electrical and structural work and have typically paid this out of cash.
There were a few reasons we looked interstate. Mainly diversification, price point (potentially cheaper in a large regional location than in a capital city) , land tax and value add potential on the property
Works only up to a point. You buy a 3 million dollar house you will have a problem selling it as there are only so many people who can afford to buy that house. You’re better off buying 3 x 1 million houses all in different areas.
It's actually the opposite - there is a LOT of money out there, especially with foreign investors and immigration. There would be 200 million Chinese and Indians who would come to Australia and buy a property tomorrow if they could. So demand is extremely strong and its not going to change for 10 years, at least. Also, the more expensive the property the more likely it will be sold because its more attractive and the buyer shave the money - the issue will be relative value not price. Buying multiple properties is a risk hedge.
Generally people who are in the market for buying 3 million house, money is not real consideration. If they like it, they can pay much higher than an average consumer who buys 1 million property on mortgage
I don't have any rental properties. However I do have an investment property. I have a dilapidated dog box in Sydney on a large block of land. My dog box is worth over 2 million dollars, however it would only rent for $450 a week, if rented out. It's basically a knock down house. However this is my investment property that I live in. Its an investment as it increases in value at more than twice the rate of inflation & since I live in it, it's capital gains tax free. Basically if I rented this property out, I would pay more in capital gains tax, than I would receive in rent. So basic it's best to just live in the place & mabe one day build a nice house. In the meantime it's refered to as my land bank.😮
Don’t agree at all. The growth rate can be higher if you choose a good location, regardless of price. I was a postie for a rich area, not all renters had money, ie not all high earners had money.
