A Sydney-based property investor with a penchant for spending money has advocated working with a team of financial advisers to ensure his family is “as close to self-funded” at retirement as possible.
Jetlee Ganado told The Smart Property Investment Show that while he considered himself a “lazy” investor who wasn’t very good with numbers, the trick to his success was in surrounding himself with the right people to assist him on his investment journey.
“I know next to nothing about my numbers, [but] I guess my point is that I feel comfortable not knowing the numbers because I have such good people around me,” he said.
Mr Ganado told the podcast that one of the reasons he and his wife used the services of a financial adviser was to assist in better positioning themselves for the future.
He added that while he had accrued “a little bit more in super than the average 35 year-old” after his time with the military, his plan was to become as self-funded as possible upon retirement.
“My wife and I have gone through a period of where we feel like we've got heaps, [but] we've kind of lost our way a bit in terms of saving and putting that away for the future,” he said.
“Based on the way I see my professional life going, I'm never going to get rich working for someone else … so for me, I need to make sure my money is working for me somewhere else, and I think it's important that we as Australians do whatever we can so that we're as close to self-funded retirees as possible.
“I just want to be comfortable, but I kind of want that sense of satisfaction when I get older that I've done it under my own steam and I haven't needed too much help from the general public,” he explained.
The investor also noted that what he liked the most about working with financial professionals was their ability to “make your processes more streamlined so you can see how much you’ve got” for properties, purchases and holidays.
“They provide more services than just advice around shares and that kind of thing – a lot of these guys can coach you around how to manage your internal funds,” he said.
“For people like my wife and I who just love to spend and spend whenever we feel like it, then tools like that are really helping us have the fun but then invest in the future at the same time.”
Mr Ganado concluded by saying that despite the initial cost, the relationship he had with his adviser was informative and opened his eyes to “what opportunities are out there” in the investment space.
“I think, yeah it might cost a few grand now for that service, but that's going to pay itself off in a few years and you won't even think about what you've spent there,” he said.
Tune in to Jetlee’s episode of The Smart Property Investment Show, which was released on Monday, 20 March.
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