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You work hard for your lifestyle, but could your super work harder for you?
It is a big chunk of your income, yet your super contributions can feel frustratingly out of reach or, worse, forgotten. It doesn’t have to be that way, and there are some outstanding opportunities to take control of your financial future, but few people outside a specialised section of the finance industry know how.
If you’ve ever wondered of you could use your super to buy an investment property and build wealth, you’re not alone. Property investment is not just for the wealthy – I help regular people to use their super to gain a foothold in the property market. Mums and dads, tradespeople, and administrators, nurses, small business owners and IT experts. Many regular people with a moderate super balance can build wealth through investing it in property. All that is needed is the right expert guidance:
Case study – Chris and Katherine
Chris, a teacher aged 37, and Katherine, a 36 year old computer programmer, earn a combined income of $110,000 a year. They have a $240,000 mortgage and their house is valued at $450,000. They regularly pay a little extra off their mortgage each month. They have read about the option of negative gearing, but do not think it is for them as they need to keep some money readily available for educating their children and supporting aging parents.
Chris had a $96,000 in his super account and Katherine had $64,000 in hers. They’re not very interested in the ins and outs of finance, but they are keen to secure their family’s future. They’d heard that superannuation regulations mean they could use super to help them buy an investment property, but they didn’t know where to start.
How they can secure an investment property
Chris and Katherine were able to set up a Self-Managed Super Fund (SMSF) based on their combined incomes and current super balances. That gave them sufficient backing to secure a loan for an investment property valued at $320,000. The property generates $330 per week in net rent. In effect, the property is owned by their SMSF. The rent and Chris and Katherine’s regular super contributions readily cover loan repayments. Chris and Katherine gained an investment property without any effect at all on their usual household cash flow.
Instead of just keeping your super ticking over, your family’s wealth could Thrive.
Contact us today to for further information (07) 3103 1450.