What is the biggest home loan risk facing most Australians today?
We can all accept that we will likely retire later than we once thought. Although maintaining purpose and income for longer is not all bad. Especially if you have taken the time now to invest in your own future retirement.
30-year home loans – by universal policy – are aimed to end at age 70.
Falling across the finish with your home paid off and maybe half a million in super will not give you a comfortable future.
I think it’s possible that the cost of living “crisis” is being a bit overplayed these days. Yes, everything costs more – insurance, electricity, education, food…
But as a nation we are missing the one crucial ingredient that would make the word crisis more apt. We have full employment. We have jobs – we have income. If you have income, you are not in crisis.
No matter how much life forces us to focus on the next step in front of us – we simply must keep an eye to the future as well. Where do you see yourself in your retirement?
Many of my clients have loans well under $500k these days, many under $250k – but the only asset behind that is their home.
We are focused only on paying that debt back and completely ignoring the future.
We have become “Too Comfortable Too Soon”.
I hope this email prompts you to look forwards and realize that your home and modest super and the aged pension is not the life you want to aim for.
I hope you wish for a future full of financial choice.
We need to embrace doing two things at once, living life in the here and now and making our assets work as hard as we are.
Equity in your home can help make an investment property appear in your life with ZERO cash down.
If you are buying your first home – do whatever it takes to get into the market – ask me how.
If you own your home and are paying it off – I want you to look forwards – let me help you invest for your and your families future.
I want you to imagine standing looking in the mirror at age 70, and if your future does not look like the one you wanted then I want you to be able to say to the person in the mirror – “well it didn’t turn out as I hope – but I tried”.
Or would you prefer saying to the person in the mirror – “well it hasn’t turn out as I hoped – I wish I had used the last 20 years better…”.
Because I really believe that if you start now – that person in the mirror conversation will turn out just fine – I really do.
Ask me how we can start.
Don’t be “Too Comfortable Too Soon”.
If you’d like advice tailored to your own personal circumstances, please call or email me anytime… It’s what I’m here for.
Alan Heath