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Forum Mortgage & Finance

Planning our future

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Kellwood | 21 Aug 2019, 05:33 PM Agree 0
I am 53 years old and my partner is 57. We both are working as a management team and earning around $150k per year which includes food and accom.
We are looking at purchasing a property to eventually build our retirement home.
We have an investment unit valued $300K however we owe $180K on the mortgage.
We have around $70k saved.
Our question is should we sell the investment unit and get a small loan to purchase this property or should we start a SMSF and transfer our super & savings to pay the investment unit off and then borrow the full amount to purchase our property?
Any advice would be appreciated!
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  • Income2Wealth | 22 Aug 2019, 08:37 PM Agree 0
    Hi Kellwood,

    Would you be able to either reach out to me direct or reply here with some extra information so I can better understand your circumstances.

    Regarding your Investment Property please provide the following: Location; date of purchase; Purchase Price; Weekly Rent; Annual Expenses

    Annual income is that $150K each or combined?

    Superannuation: Current Balance In Super

    I look forward to hearing from you.

    Kind regards
    Paul Wilson
    Income2Wealth
    E: [email protected]
    P: 1800 600 890
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