Investment options at 47?
Question from Sian updated on 21st March 2014:
I have recently sold my house and have $180,000 to reinvest. At 47 I am considering investing in a couple of rental properties and renting myself. I am not bothered about owning my own home at this stage in my life but just want to know if this is a good option? I work full time and have a half share in rental properties in the United Kingdom, which we will sell in 2015 to also invest here. Thanks!
Our expert Kris Pedersen responded:
Hi Sian, It depends on what you are after and what your end goal is. Do you want to hang onto the properties long-term to provide some residual income at retirement? Are you more looking for capital gain or cashflow at this stage of your life? What is your appetite for risk and do you want something that you can be completely hands off with or are you fine being directly involved? The answer to your question involves a full risk and needs analysis of what you are wanting. I'd recommend contacting an authorised financial advisor who can potentially create a plan with you while explaining to you everything you need to take into consideration before you invest your funds. Thanks, Kris Pedersen
Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies. www.krispedersen.co.nz