Research from the Association of Superannuation Funds of Australia shows a retired couple currently needs $500,000 to live a modest lifestyle, while $860,000 is needed to have a comfortable lifestyle that includes holidays and eating out.
Looking to the future, consultancy firm Deloitte estimates that today’s 30-year old male worker will need $1.58m at retirement to live a comfortable lifestyle. A 30-year old female worker will need $1.76m due to their longer life expectancy.
Many Australians consider property investment as one way to build retirement funds so what might one investment property do for you? Residex, an independent provider of data on the property market, reported recently that unit prices in Melbourne experienced 7.81% pa growth over the past 20 years.
If the same growth is experienced again for a median priced Melbourne unit of $433,500 it would grow to $1,800,000 in 20 years! Of course we can’t guarantee this will happen, but the moral of the story is that just one investment property can make a huge difference.
For a FREE copy of our Investor Guide - Everything you need to know about successful property investing, give our office a call on 03 9858 4755 or email me at email@example.com