We all have to work hard for the majority of our adult life and while some people have a hard time dealing with retirement, your golden years should be free from financial worries and have Financially Secure Retirement, at least that is the theory. It really is all about making wise investments and the best place to start is buying your home and the sooner you can do that, the better.
The secret lies in real estate
Take a look at how property prices have been over the last 30 years and you can see why property is the best investment of all. Once your mortgage drops to an affordable level, there are prime villas for sale in Samui from a respected developer and your holiday home will pay for itself in no time and when it comes to the time to retire, you have your retirement home in a tropical paradise for Financially Secure Retirement.
Financial planning
Short of a big lottery win, you’re not going to wake up one morning and be wealthy! The best way to generate wealth is to create a financial plan with the help of a financial advisor, who can help you choose good investments. It might take quite a few years to amass enough to see you through your retirement years, but without some kind of plan, it isn’t going to happen.
Make your money work for you
Leaving your disposable income in the bank might sound like a good idea, but, to be frank, you can do an awful lot better than that! If you can afford the payments, buying a second property is a great long-term investment and let’s not forget that land is a finite commodity and with close to 9 billion people on our planet, real estate prices are sure to soar. The property rental sector is booming; find a run-down house for a bargain, renovate and rent it out to working professionals, or buy a villa in the south of Thailand and that will be your retirement home. Click here for more info on vacation property rentals.
Taxes
We all know that our government wants its share of our hard earnings and while you will have to pay, seeking out the advice of a tax specialist will keep it to a minimum. As soon as you begin to generate wealth, your tax expert will guide you through the taxation minefield and you will reap the dividends; when you balance the cost of hiring a tax-savvy professional against the money you save, it’s a no-brainer!
Foreign investments
The world has shrunk already and the World Wide Web makes it easy to invest in foreign markets and if your home economy is far from good, looking further afield for investment opportunities is the wise thing to do. Southeast Asia is a great region for property investment; you could acquire a large plot of land in Samui and contract a local builder to construct a few prime villas, or buy up a few plots from the developer and rent them out. The returns from such projects would assure that you and your partner have a secure retirement; aiming high is a positive attribute to have when looking to generate wealth.
The Thai government welcomes foreign investment, as their Board of Investment website outlines, while there are other countries in the region that are ripe for investment.
