In the context of a fast-growing and wealthy economy, a red-hot market for houses is a double-edged sword. Investment properties in Australia are currently a hot commodity, and a smart purchase for the investor. The prohibitive cost of your first house, which typically locks the buyer in to a long-term mortgage at a pivotal moment in their personal life and career, is a big step for those emerging from the shorter-term mindset of youth, and acts as a milestone for many young families.
In our previous blog we went through some of the factors seniors should consider when determining how they will obtain sufficient retirement income. As the choice can seem complex, we will discuss a few more considerations in this installment.
As the debate and discussion surrounding Australia’s aging population and the need for sufficient retirement income continues, many seniors are left wondering what their options are.