3 Simple Retirement Questions People Often Fail To Consider

by | Apr 10, 2017

You didn’t buy your first investment property without a plan, so why should your retirement plans be any different?

Retirement planning – in terms of financial concerns – should definitely be a part of building your investment property portfolio, but it takes much more than money to enjoy a successful retirement.

Narrow down potential issues before you take the plunge, by asking yourself the following questions as you plan your retirement:

1. If you’ve announced plans to retire, what do others think about it?

You might be surprised what people will imagine when they don’t know the whole truth.

For example, your adult children might assume that since you’re not going to be working any more you’re rich enough to fund their lifestyle as well as your own.

Or maybe work friends decide that you won’t want to have anything to do with them once you’ve retired so they cut you out of the loop when making lunch or after hours plans.

Granted, it’s your life and you can choose how you want to live it, but it’s smart to keep your stress levels down by communicating what others can expect from your new lifestyle.

2. So…what are you going to do all day?

There will be days you may want to stay home…all day.

And that’s fine…if that’s what you want to do…do it!

Not every day in retirement will be filled with exotic locales and afternoons spent snorkeling the barrier reef.

It’s important to realise that retirement is a lifestyle change and unless you’ve asked yourself how you’re going to fill your time, you’ll find yourself at a loss, wondering why retirement doesn’t feel quite right.

retiree

3. Is anyone else in your social circle retiring with you?

This question is connected to question number two.

Imagine, for a moment, that you’ve retired. You haven’t seen your work mates since leaving the job and all of your other friends are still doing the daily grind.

You could – and probably should – spend time with your partner, but what if they’ve not yet retired or have other plans?

Know yourself.

If you’re the kind of individual who doesn’t need a social circle to enjoy life, then you’ll have an easier time adjusting to retirement than someone who depends on the connections they’ve forged through their workplace and with individuals who are still in the wealth building phase of their lives.

Once everyone is on the same page in terms of what they can expect from this new phase of your life and you’ve worked out exactly what your day to day retired life is going to look like, you’ll be ready to face any challenges you might encounter in your retirement life.

 

If you want to meet with like-minded people sharing the same interest for property investment,  you should register to attend our next Property Investor Night.
At these FREE events held all across the country we discuss where the growth markets are right now, and share ways you can navigate your way to financial freedom through investing in property.

Seats fill up fast, so book yours now!

6 Ways To Speed-Up Your Next Property Purchase 

6 Ways To Speed-Up Your Next Property Purchase 

  Get There Faster If you are already a property investor with one or even two properties, first of all, congratulations. You’ve taken some seriously great steps in creating your future wealth and a pathway to a work-less, play-more retirement with passive...

Property investing: Five ways to create cashflow boom!

Property investing: Five ways to create cashflow boom!

When it comes to property investment there are some things you can never have enough of.

When it comes to property investment there are some things you can never have enough of. Good tenants, reliable builders, a great relationship with your bank.

But more than anything what you need is good cash flow. 

Having a steady income of cash means never having to dip into your own pocket to top up repayments, complete repairs or make another purchase.

Here are the top five ways you can ensure the cash keeps flowing, so you can keep your investment portfolio growing. 

Lock it in! How to protect your equity

Don’t be caught without it.
As a property investor who is building a portfolio, it’s vital that you have access to your equity whenever you need it. 
There’s nothing more frustrating than finding that perfect new property to purchase, only for it to be held up – or worse still, lost completely – because your finances weren’t in good shape.
Having an interest-only loan structure with a healthy off-set account is a great way to ensure you have equity at your fingertips whenever you need it, but that’s not the only way…