Attaining Financial Freedom Through Property Investment
Michael Yardney writes a telling piece for the website Property Update where he starts by talking about the lack of financial freedom Australians have despite being among the richest countries in the world. Only about 180,000 Australians can be referred to as high net worth individuals.
The dream of financial freedom
There are many who, seeking financial freedom, end up leaving their jobs and looking for business options. This very same dream of freedom, says Yardney, brings many into the arena of property investment. It then makes for a noteworthy statistic that only about 1% of investors gets to buy more than six properties over their life. In fact, 92% of them never get past the two-property mark.
Tax system favours business owners
Yardney also drives home the point that the prevailing tax system in Australia favours business owners and not the employee class. Employees pay for their life’s comfort and pleasures with after-tax dollars while business owners get to pay them with their before-tax dollars.
Property market incentives
Business owners know how to make their money work hard for them, and truth be told, they get a lot of support from the financial system, too. While Yardney does not lobby for a conventional business option, he talks about entering the property market and seek that still-elusive financial freedom.
You can read the original article here.
Persevere and be diligent with property investment
It cannot be honestly said that real estate industry will embrace you warmly the moment you enter it. As with any other field, you have to open yourself up to a lot of initial hardships before you start to make your own way.
However, if you are diligent when you begin and ready to persevere, the property market can hatch a golden egg for you at any instant of a given cycle. And you never know you might just join the ranks of that 1% with six or more properties over the years.