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.