Financial
Roadmap
A clear, personalised path to your financial goals.
9 December, 2022
Investment property rent and retirement
First Financial Team
Property investment is a solid strategy to build wealth for your retirement, but unless you have a large investment property portfolio across multiple locations with little to no debt implications, living off investment property rent in retirement is not a solid strategy on its own.
The best idea for a retirement income stream is not one stream but several different streams.
Investment property rent can form part of this income stream portfolio, but there are other strategies necessary for a healthy and happy retirement.
Want to know more about how to fund your retirement?
Our specialist team has all the answers you need – contact us for more information.
Rental income and capital appreciation
It’s true that property investment is a legitimate strategy to build wealth for your future.
It is also true that, if you invest in property early enough, you will likely hit retirement with decent capital appreciation in your property and some rental income flowing in regularly to boot.
But relying on the rental income and capital appreciation of your investment properties, alone, to fund your retirement is a recipe for disaster.
At First Financial, it is our passion to help Australians retire when and how they choose, with confidence and certainty.
But in reality, the costs of retirement will exceed the ongoing income most will get from their investment property rent.
If you are looking for a basic analysis of the costs of retirement you can take a look at the Australian Superannuation and Retirement Funds (ASFA) Standard, which includes a number of helpful documents you can download to project your retirement costs.
For a more detailed approach, contact your financial adviser to figure out your individual outlook.
Property investment and ongoing costs
One consideration for property investors hoping to hold their property assets throughout retirement and use the rental return as an income stream is the ongoing costs of property ownership.
Land tax, body corporate fees, rates, repairs and maintenance, water levies and rental management fees are just some of the ongoing costs associated with investment property ownership.
These costs may be easy to meet while you’re working, but what sort of slice will they take out of your income when you finish work and enter retirement?
Ask your financial adviser to run some figures on the costs associated with holding your investment property portfolio throughout retirement.
In some instances, it might be better to sell the properties off, collect the capital appreciation and reinvest elsewhere.
How much do you need to retire?
It’s a commonly asked question and there is no one size fits all answer.
At First Financial, one of the roles of our advisers is to help you to secure your retirement income in the most effective way possible – which may include adding investment property rent to your retirement income stream.
Our advisers can determine how much you will need to meet your retirement goals and once we know the amount you need, we can find the appropriate method of achieving it.
Working with a financial adviser who specialises in retirement planning will mean you create a tailor-made plan that meets your needs as well as work to achieve your retirement goals.
If you want to find out more about suitable retirement income streams, contact us today.
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Jan
Life Stage:
Retired
Background:
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Newly retired
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Tim and Adam
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Background:
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Lyn
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John
Life Stage:
Retired business owner
Background:
After decades of running a successful pharmacy, John sought financial guidance to simplify decision-making and support long-term planning.
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