Hi new to forum,
have posted in another area by mistake, but this is my issue, have been asked by Real Estate agent, very good long time friend to invest in an apartment in Northcote,about $500,000, he thinks in the long run I would be better off than the return on my miserable super.
My only issue is, I'm sixty this year and my wife is fifty five,what time frame would I need to get some profit from this venture?
I have a very small business, things are always tight in any business but at my age I'm a little worried, I've invested in the share market years ago and that was a whole lot of trouble.This has been copied for your convenience.
IP Freely posted this reply to the incorrect "have posted in another area by mistake" that you did
I would suggest that you seek an independent financial advisor to assist you in your situation. You sound as if you are a conservative investor and may need a specialist to review your entire situation rather than isolated information from a group with vested interests. The advisor will consider such options as the value of your business and selling this (or a succession plan) realising a tax free capital gain, restructuring of your current super/other investments and determine an investment strategy which meets your risk profile, the amount of income you will be able to live off and for how long. Financial advisors are obliged to disclose any commissions that they may recieve from the products that they recommend. Independent advisors may offer a wider range of investment products.
I.P. Freely – 'cause I can!
Thank you so much for your reply, yes at my age I am a conservative investor.
Did have a financial adviser,all he ever said was advertise more, employ staff to do your job and reap the rewards!!!!!!
What rewards and with what money,he charged me $$$$$$$$ for useless information.
Not once did he advise IP.
Is there an adviser you could recommend in the Melbourne area???
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