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Increasing super

Noel Whittaker | May 26 2008 | The Sydney Morning Herald & The Age (subscribe)

Invest in a property instead of super?

Q.

I am 54 years old, working, with a retired older husband. We own our home which is probably worth over $660,000. I am very concerned that my super is not going to be enough and am thinking of buying an investment property. I have spoken to someone who would like me to invest in a house and land package in a growth corridor, and then proceed to gear this property. He estimates the package will be worth $380,000. What do you think?



A.

From the information supplied it would appear the "adviser" is a person who is trying to sell you property. I believe a better option may be to speak to a member of the Financial Planning Association and look at all your options. These would include aggressive salary sacrifice to super and possibly borrowing for share based investments.

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