Hi,
My mum has recently retired and she is living on the pension of $315/wk. She has a mortgage of $200k and her townhouse is worth about $850k.
She has $100k in super and draws out down about $900/mth.
I have just started out in property investing and am sure there is a better way for her to retire with more money, I just don't know what.
If she purchases an investment property I believe she will lose her pension and seeing she does not earn an income she cannot get any tax breaks.
Any strategies of cant do, can do, should do to improve her financial freedom would be greatly appreciated.
Thanks
Dean
My mum has recently retired and she is living on the pension of $315/wk. She has a mortgage of $200k and her townhouse is worth about $850k.
She has $100k in super and draws out down about $900/mth.
I have just started out in property investing and am sure there is a better way for her to retire with more money, I just don't know what.
If she purchases an investment property I believe she will lose her pension and seeing she does not earn an income she cannot get any tax breaks.
Any strategies of cant do, can do, should do to improve her financial freedom would be greatly appreciated.
Thanks
Dean