We all want to be financially secure, and it takes more than simply earning money. It starts with handling your finances wisely. The first steps involve budgeting by looking at your income and expenditure, then clearing unhealthy debts and setting up a plan for savings.
Once you have a savings plan and funds for a rainy day, then it’s time to think about investing. Leaving your money in a bank is not likely going to help you grow financially, if you want to achieve financial freedom and have a steady income after you retire, you need to start investing as soon as you’re able to.
The old cliché – there is no better time to invest than NOW – is so well heard of for a reason. That’s because waiting is not going to make anything happen. The best time to invest, is indeed now! However, it’s important to learn how to invest in order to minimise risks and pitfalls which may result in losing your hard-earned money.
Previously we talked about the types of investments, they were:
- Interest bearing investments
- Managed funds
- Property Investments
Property Investments have become increasingly popular in Australia, as the growth of the property market is evident. This is especially the case in non metropolitan cities. But remember, there is a ‘smart way’ to invest, so what does that involve?
- Market Conditions – you might think buying a property and renting it out is pretty straight forward, however, buying in the wrong location can cost you more than you expect. You need to examine the market and decide the potential for long term growth and yield of the property.
- Property Assessment – often we look for a dream home that we’ll love to live in, but with an investment, you need to decide objectively. Finding the right property to invest takes more than just a feeling or emotion. You need to view yourself as an ‘investor’ and not a ‘home owner’.
- Contradictory Advice – talk about property investment and everyone suddenly has an opinion or story to tell you. It is not surprising that you will receive conflicting information as to how to invest. Researching the most up to date and accurate information is key to a successful investment journey.
Invest Hibbards are experts in providing smart investments that will offer you freedom sooner than you think, and well into your retirement, so you can become finally secure and independent. Our team of professionals have the skills and experience to bridge the knowledge gap for investors and provide a solution proven to maximise growth. We research the market, give you detailed property options, and show you where to invest.
To find out more, we invite you to check out our 14-Day Insights Program – a great opportunity for you to understand where you are financially today, where you want to be, and to have a plan to get there.
Or call us on: 1300 958 410 to speak with our team today!