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Hi, new to forum,
am so confused as to what to do.Real Estate friend of mine wants us to invest in an apartment in Northcote Vic,main road trams running into CBD trendy shopping center all that.
My issue is the price, $500,000. I've never invested in property before,my super has gone down quite a bit and he suggests this is the way to go, so to at least have a comfortable retirement. But can this really be a gower I'm sixty this year my wife is fifty five, I run my own business not to good at the moment hope it things improve!!!!
This friend says hold for awhile it will surely make me extra few hundred thousand,better than my super.
Need help what are my options?jedka wrote:Hi, new to forum,
am so confused as to what to do.Real Estate friend of mine wants us to invest in an apartment in Northcote Vic,main road trams running into CBD trendy shopping center all that.
My issue is the price, $500,000. I've never invested in property before,my super has gone down quite a bit and he suggests this is the way to go, so to at least have a comfortable retirement. But can this really be a gower I'm sixty this year my wife is fifty five, I run my own business not to good at the moment hope it things improve!!!!
This friend says hold for awhile it will surely make me extra few hundred thousand,better than my super.
Need help what are my options?I would suggest that you seek an independent financial advisor to assist you in your situation. You sound as if you are a conservative investor and may need a specialist to review your entire situation rather than isolated information from a group with vested interests. The advisor will consider such options as the value of your business and selling this (or a succession plan) realising a tax free capital gain, restructuring of your current super/other investments and determine an investment strategy which meets your risk profile, the amount of income you will be able to live off and for how long. Financial advisors are obliged to disclose any commissions that they may recieve from the products that they recommend. Independent advisors may offer a wider range of investment products.
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