Investment Advice, The Aucklander
Thursday October 29, 2009
by Tanya Kwasza
Most of you will have a grasp of your monthly budget and are managing to keep on top of it and ideally are saving 10% of your income, However many of you are completely unaware of how much you are going to need in the bank in the future to retire comfortably?
The current superannuation is $307 in the hand per week. Hence, it is prudent to save and utilize Kiwi saver and super funds etc. But is this just a drop in the ocean? Do you have a strategy in place? Are you diversified enough? How does property feature in your portfolio? As a property strategist I can assist you in building up a long term property portfolio.
Catalyst2 is giving away 50 wealth wheels to readers who contact us. By lining up the wheel to how many years you have left to retire against how much income you would like in today’s dollars it will show you how much you will need in the bank at the time of retirement. If you flip the wheel over it will show you how many properties you will need to own now in order to create these funds assuming 5% net growth. This is only an illustrative guide and if you were to look at one or two properties in the long term, you would be better off than doing nothing or relying on the government super.
My role is to match you with the right kind of property. If you are busy with family and work I would recommend a brand new property with guarantees and warranties. If you’re busy and dread dealing with tenants, I would introduce you to pensioner units for the elderly that have Housing New Zealand leases attached. No need to meet the tenant for as long as 15 years! If you have time and skills on your hand, I will source you a do up. If you are comfortable with progress payments, I will source a section for you and manage the building process ensuring equity on completion.
The very act of sitting down with someone to review your current financial situation is the first step towards financial freedom. If you wish to have a consultation at no charge (we are paid a commission on the sale of a property by the vendor) or to receive a wealth wheel call us on 0508 catalyst (0508 228 259) or request further information from our website www.catalyst2.co.nz
