By John Sage Melbourne
When you imagine your retirement years,chances are you envision fantastic,hassle-free years where you’re totally free to do what you want. This is why it’s important that you prepare thoroughly so your residential or commercial properties change your income. Don’t leave it up to possibility and don’t leave it too late.I have actually seen on many occasions when investors are sure they’ll be able to retire on rent earned from residential or commercial properties without crunching the numbers. The matter of retirement is frequently prevented for a long period of time,or we assume that our very will suffice. We don’t keep an eye on the numbers,put it into the too-hard basket,and after that when retirement approaches,we understand too late that we must have been preparing rather.
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According to Ian Hosking Richards from Your Investment Property Mag,even a property portfolio of over $6 million would not suffice to fund a comfortable lifestyle.Still not encouraged?Ian explains that the combined mortgage of those residential or commercial properties would be $4 million,and while rent would be considerable,once the outgoings are paid there in fact would not be that much left for a terrific retirement. The truth is that it’s too difficult to grow a big enough portfolio of cash-flow positive residential or commercial properties to change your income.It’s time for a better method.
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