Property provides money for life.
When calculating income necessary for retirement, experts provide a dollar figure excluding rent and mortgage repayments. That s right! They assume that most Australians will have paid off their family home by the time they stop working. This is no longer the case. Home ownership rates are declining and, alarmingly, the rate of homelessness is on the rise. At greatest risk is the older woman, defined as 55 years and older, the fastest-growing demographic of homeless people in Australia.
Money for Life is a book that encourages home ownership as the foundation of a secure financial plan. Money expert Helen Baker explains the five financial foundations that we all need to have in place to build financial security. She then explores:
The power of leverage
Home-ownership vs investing
Your home as a source of additional income
Financing your property purchase
Buying alone or in partnership
Surviving financially after relationship breakdown
And much, much more.
A home provides much more than feel-good security, it is a powerful and essential wealth creation tool that can save and make you money for life.
