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!