Plan For Retirement With A Mortgage Broker
Planning for retirement is something we must all do and the sooner we start the easier we make it for ourselves - no matter how far away it seems.
It may seem obvious to turn to a mortgage broker for home loans advice, but what many don’t realise is that they can help you work out a retirement saving strategy too.
This is because property investment is one of the most reliable ways there is of generating passive income over the long-term.
If you own a home, accessing your equity can help you start investing for your retirement sooner by making it easier to buy a second property.
Using your equity will mean your current home is provided as security. As a result, lenders will often finance up to 100 per cent of the house price and you won’t have to pay a deposit from your own money.
Alternatively, you can invest for your retirement by borrowing money to buy property using a Self-Managed Superannuation Fund (SMSF).
The advantages of using an SMSF to start an investment portfolio include tax benefits and having control over where your superannuation is invested.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.