Last month we looked at how to borrow and invest in property through your SMSF.Is it possible? Is It worthwhile? What are the challenges…and the benefits? This month we’ll be digging a little deeper and working through some calculations to help you understand how it could work to help build your retirement nest egg.
Ask anyone over the age of fifty what their best ever investment was, and inevitably they will answer, buying their own home. Their biggest regret? Not buying the house next door at the same time.
So where better to invest your precious retirement savings than in property?
His words might have been recorded over 200 years ago, but Benjamin Franklin’s famous uttering “in this world nothing can be said to be certain, except death and taxes” remains as true today as it was in 1789. The one thing that has constantly changed is tax law, and although death is impossible to avoid, with the many options available to us, taxation doesn’t need to inflict too much pain.
It is no secret that Australians love investing in property. And while it can be an exciting prospect, it is essential to consider the finer details before jumping in, especially any ongoing costs and expenses you’ll have to pay.