When it comes to preparing for retirement, there are many paths you can take to build your financial independence. You can invest in stocks, perhaps engage a wealth manager, or also look into buying a rental in Adelaide. By purchasing real estate and engaging a property manager to look after the tenants, you can sit back and relax, hopefully observing significant capital gains over time that will benefit you in your older years.
The importance of preparing such an investment is highlighted in a new release from the Association for Superannuation Funds in Australia (ASFA), whose latest release shines a light on the cost of retirement.
If you are a single retiree who wishes to live modestly, then the rolling cost of retirement is $23,489 per annum, according to this September quarter Retirement Standard. At the other end of the scale, a couple seeking a comfortable retirement would require $58,326 per year. Both of these values have increased since the same period last year, which indicates the need for people to continue preparing for rising costs in their retirement.
This is reinforced by the CEO of ASFA Pauline Vamos, who noted in the November 21 release that people should save as much as they can while working to live comfortably when they leave the workforce.
"It's also important that people think about creating or buying an income stream that will spread your superannuation savings across your retirement years and that can be adjusted to accommodate rising prices," Ms Vamos added.
Such an income stream could be an investment in property in Burnside or one of the other fine suburbs of Adelaide. With CoreLogic RP Data monthly indices showing a 4.31 per cent year-on-year rise in Adelaide home values, there are clear capital gains to be found by buying in the City of Churches.
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