By John Sage Melbourne
When you imagine your retirement years,chances are you picture fantastic,trouble-free years where you’re totally free to do what you want. This is why it’s crucial that you prepare thoroughly so your homes replace your income. Do not leave it up to chance and do not leave it too late.I have actually seen on various celebrations when investors are sure they’ll have the ability to retire on rent made from homes without crunching the numbers. The matter of retirement is typically avoided for a long period of time,or we presume that our super will suffice. We do not 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 need to 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 money a comfy lifestyle.Still not encouraged?Ian points out that the combined mortgage of those homes 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 fantastic retirement. The reality is that it’s too challenging to grow a big enough portfolio of cash-flow positive homes to replace your income.It’s time for a better method.
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