Get set for life


Australians are increasingly realising they may not be able to rely on the government to fund their retirement. Property gives people the option to continue their current lifestyle well into their old age – but can the average Australian build a retirement-ready portfolio? Smart Property Investment crunches the numbers and looks at what’s involved in generating a passive income through property



With recent speculation that the pension age is going to keep rising and constant reminders from finance experts that Australians are approaching retirement woefully underprepared, many people are wondering how they can take control of their financial future.

Australians are increasingly realising they are unlikely to be able to rely on the government for financial assistance in their old age. Indeed, director of wHeregroup Todd Hunter says it’s time for a wake-up call.

“For people our age, there won’t be a pension,” he says. “It’s a mathematical impossibility for there to be a pension on a growing, expanding and ageing population, with only a limited income coming in. It just won’t be there. You will have to support your own retirement.”

Many people recognise this inevitability but don’t know what to do about it. In fact, Mr Hunter says a vast number of people in the workforce at the moment are relying on death to fund their retirement life.

“There is a tonne of people out there who are expecting an inheritance and they think that will be their retirement,” he says. “There is also a lot of ignorance out there that will catch up with people later in life. People turn a blind eye and assume it will all be okay, but it doesn’t work that way.”

Ben Kingsley, director of Empower Wealth and chair of the Property Investment Professionals of Australia (PIPA), says most people don’t realise they have a problem until it’s too late. In addition, projections about the future value of money, changing economies and inflation can confuse and frustrate people, he says.

Despite the confusion, Mr Kingsley says investors who want to live a stress-free retirement need to take control now. So the experts (and the figures) are telling us we need to do more. We need to take control. We need to build wealth. We need to be prepared. But where do you start?

READ the full article in the latest issue of Smart Property Investment – ON SALE IN NEWSAGENTS NOW.

Click here to subscribe to Smart Property Investment.
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
Get set for life
SPI logo