Fact: 92% of investors own one or two properties
Fact: Only 8% of investors own three or more properties
I want to draw your attention to the awful truth about the retirement future for many Australians …..
Here’s what they tell us will happen if we took a sample of 100 people today, aged 25, and projected forward to their 65th Birthday…
Of those 100 people:
- 13% will have passed away
- 79% will be broke
- 4% will be just surviving financially
- 3% will be Working to survive
- 1% will be financially independent
So, just 1 in 100 will get the retirement that I bet all 100 of them are dreaming of!
Okay, so now reading the above I’m sure you are determined to be different!
You will need to adopt the essential philosophy!
Spend less than you earn and then invest the balance, while asking:
- Where’s the opportunity?
- What’s the reward?
- What’s the risk?
- What’s the aggravation?
A sales phrase I’d like to apply here is “the further you are from the problem, the further you are from the profit”. That is, buying a property where there is no problem to solve means you can only make money if the whole market goes up.
On the other hand, buying a property where you can use your investing skills to solve a problem (i.e. a quick renovation, repaint etc.) means you can manufacture an income and/or a capital appreciation return and fast-track your wealth creation.
Right, so firstly we need to set your annual income goal!
Next, you need to convert your annual income goal into an equivalent lump sum capital base at a given rate of return.
Annual Income / Desired ROI % = Required Capital
Okay, now that we have established our required capital, you will need to set a realistic goal on when this can be achieved! Please don’t hesitate to reach out to me for 5 minutes and I can help you with this!
To Your Success,