Would you like to retire when you want to or when the government says you can?

Proposed changes recently announced by the Federal Treasurer will see anyone under the age of 49 this year not able to retire until they are 70.  And the reality is that over the next twenty years or so the goal posts could be moved out even further.

I don’t know about you but I don’t plan on ever fully retiring as long as I am enjoying what I do. But I do want to have the choice to retire or partially retire much earlier than 70 if I’d like to. 

So if you want to take control of your own future then you need to make the decision that you will choose when you retire and then take action to make this happen.  For starters this means getting a financial plan in place as soon as possible, then implementing it.   My approach is a balanced one with a combination of various assets inside and outside of super. 

As part of your ‘retire when you want to’ strategy I recommend building an investment property portfolio of around three to six quality properties which can be done over a five to 20 year plan depending on the base you’re starting from. Of course the sooner you start the better however for most people you need to start at least a decade before you want to retire.  

Another reason it’s important to build an asset base in addition to compulsory super is because the research shows most people won’t have accrued enough superannuation to keep them in the lifestyle they are accustomed to when they want to retire.  So given that and the fact that you can’t get your hands on your super till the government says you can it’s important you start investing as early as you can.

If you would like some advice on how to create an effective ‘retire when you want to’ plan then get in touch with me by clicking here and sending me an email.