Invest early in property real-estate good advice by retirees - wisdom of elders

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New research has shown that Australian retirees are more active than their global counterparts when it comes to investment advice for the younger generations.

72% of retired Australians believe a long-term approach to retirement saving is needed, compared with only 55% globally

The surprising thing was the degree to which retirees would advise the younger generations as to what to do to accumulate wealth.

The retirees were very outspoken as to what they would do differently and made it clear to the younger generation to pull their socks up, use their brains, and invest early to insure a comfortable retirement is in place.

Australia has created a community with an engaged investor base and a generation of retirees who have been more involved in their wealth accumulation strategy, and given Australia has had superannuation guarantee for a number of decades this helps immensely.

The older generation’s advice to the younger is to start investing early, pay down debt, and utilise professional advice which is readily available to them.  
 
The survey included 17,600 respondents, 1,000 of them Australian.

Key findings included:

When asked to rank their top concerns about their financial future, the state of the Australian economy was number one, followed closely by job security and having to spend more    than they earned, priorities differed with income

Investment property ownership in Australia sits at 15% of those surveyed, whereas European and North American averages are at 10%. for more affluent Australians the rate of ownership increased to 35%

We can all learn lessons by listening to the more experienced members of our community and in particular the wisdom of our elders.

Why learn by your own mistakes when you can save yourself trouble, pain, and ultimately financial loss by learning from other people’s mistakes.

Personally I have learned far more from my wiser, older, and more experienced clients than I have learned from any book, course, or seminar on property investment strategies, because these clients have been putting their money where their mouth is for a long time and have learned key moves to success.