All Topics / Value Adding / I need an investment strategy for my situation

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  • Profile photo of jeeakz7809jeeakz7809
    Participant
    @jeeakz7809
    Join Date: 2022
    Post Count: 0

    What would other investors suggest l do with my situation (below); I’m planning on seeing a fin adviser;  (suggestions for a fin adviser?).

    Quick snapshot :
    Male, no dependants, single aged 55 (next bday), healthy, active lifestyle, working PT Sal $35K p/a zero income tax (neg gearing). Prefer early retirement .

    4 investment properties (1x MEL 2X SYD 1x GC) MV $3M
    Loans Total $1.238M
    PPOR – Syd MV $800,000
    HL $356K
    Credit cards – $5k zero interest rate
    No other loans
    Super approx $270K
    Savings $90K
    No car.Living in Sydney

    • This topic was modified 3 weeks, 4 days ago by Profile photo of jeeakz7809 jeeakz7809.
    • This topic was modified 3 weeks, 4 days ago by Profile photo of jeeakz7809 jeeakz7809.
    Benny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,416

    Hi jeeakz,

    Looks like you have put yourself in great shape to sculpt a really good future in your retirement.  Well done.  Re “what’s next”, I’ll leave that to smarter people than I, but I did want to pop in a question or two so that others might formulate a path that will really suit you.

    First, you are talking of retiring – at that time, what kind of income would you want?  At least $35k obviously, but are you aiming for more?  If so, how much more?  $50k?  $100k?   And I’m talking after Tax of course.

    Also, are you happy in your PPOR, or would you consider selling that too and (perhaps) moving elsewhere?   I say this, as your PPOR being sold will (likely) be a CGTax-free sale.  Thus you could clear $500k or so to pay off other debt (and perhaps making you positive geared?)   Of course, that means you could start paying tax, but then that is not such an imposition if your income is way up on $35k, is it?   You might also consider moving into one of your IP’s.  e.g. Would you like to move to Melbourne or the Gold Coast?

    Would you consider selling ALL Ip’s to parlay into other investments (if they prove to be more beneficial to you by doing that)?  Would you prefer to be completely mortgage free?  That is an option for you as I see it, yet still able to bring in a very nice yearly income.  All because of what you have done so far.

    Let’s see what others make of this once you come up with a few more answers.

    Benny

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