Does age really matter when investing in property? I say NO – it’s never too late to invest.
My youngest client is 21 and my oldest client is 63 – I’ll be honest I am 64 years old almost to be 65 and I still invest in property.
So let’s talk about age, a 25 year old investing in property may have a little more time on their side & time is a part of the magic that is property investing but when you think about a 55 year old investing they may have what we call discretionary money.
Their kids might be in the later years of school, their house may have a large portion paid off or in its entirety paid, no car payments or school fees to worry about which means they don’t have all the expenses they once did giving them extra money for: discretionary spending.
What’s a 55 year old going to do with this extra money? Invest in property, and can do so more aggressively using equity in their home & larger deposit power.
So although a 25 year old may have time on their side, they also have to enter the market a little slower as they may have more expenses or renting etc, at 55 you may have a little less time but utilising the leverage in your home through deposit & equity means you can enter the market quicker.
So does age matter? It depends on you and what you want to achieve. If your 21 and want to invest in property I can assure you that you can & if your 55+ and thinking you’ve left it to late & missed the boat I can assure you, you have NOT!
You have ample time to achieve your financial goals when investing in property.
Let’s have a chat, young, old and everything in between so we can discuss your possibilities. Contact us here or give me a call on 1300 736 754.