I’m a 40 year old self-employed professional with a good income and no student loan debt but very little in the way of retirement savings. My 38 year old husband is still studying and will start working with a moderate income in 12 months. He has no retirement savings. We have a large mortgage but it’s not too much of a stretch for us on just my income and I expect our house to appreciate nicely over the next 20-25 years. In terms of growing net worth for the future I was thinking about purchasing a series of investment properties over time. I’ve put down a 5% deposit for my first one and even on a 95% mortgage the rent will almost entirely pay for the expenses with about a few thousand out of pocket per year. Over 25 years for a small initial deposit we’ll end up owning this property outright. If we do this every few years we’ll have a nice little bunch of rental properties with some rental income and the value of the property less capital gains tax. Should I diversify? Would we be better putting more into the mortgage and then selling our house and downsizing when we retire? We live in a growing city with low rental vacancies. I know nothing about investing in things like the stock market. I’m risk averse but we need to do something to catch up our retirement savings.
Submitted June 24, 2018 at 07:17AM by Wrestlergrrl https://ift.tt/2MksqBu
