Here is a Scenario:
I arrive in Australia 01/06/06, I am early 40’s, married with 3 kids. Two of them in their late teens.
I have a temporary residence visa, vaild for 4 years.
My gross income is $45,000
My wifes income would be $38,000
I’ll have a part time job = $18,000
My elderst son may work part time = $18,000My goal for those 4 years is:
(1) My 2 eldest kids to get a univeristy degree.
(2) Save/gain/profit sufficient money to take back home to my country with me.My question is, if you were put in such a position, what startegy or how would u go abouts it? Taking into account, that there are only 4 ppl (myself, my wife and the 2 elderst kids) in a position to work, but also I would like them to attain a univiersity degree, during their time here. Place of residence for this 4 yr period will be, lets say ACT.
Your opinions??You definitely need to talk to a financial advisor!!!
Whether or not you are in the property investment might very well depend on your potential income when you came back home after your visa will expire. Will you be able to suport it if things go wrong? May be you some other type of investing will suite your needs more.
I’m a migrant myself and about 7 years in Australia, with $50,00pa amd a part-time income. I have a coupler if IP, but when my partner had problem with visa – we were veeeeeeery concern about managing it.
I would strongly advise to consider what you life will be like in 5-10 years, and do you need and Australian property? May be yes, may be not. Talk to professional about
I can give you a contact of a really nice financial advisor I’m using. He’s been great so far for me!!!! Made me money for two IP in half a year. But it’s very much depends on you circumstances. Email me offline if you want a contact – I don’t mind to share.
Cheers,
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