How the over 60s can still build a thriving property portfolio

You're never too old to build a portfolio

I've had a heap of questions about getting a mortgage as you get older, it seems that we have a whole generation of baby boomers who are waking up to the nightmare that is an underfunded retirement. It's unfortunate but I've been saying it for years and now more people over 60 are signing up every week.

I remember helping my parents build on their existing portfolio about 10 years ago, it was the best thing they did, they are now almost 60 and because they have the investment property portfolio they are in a really good position. Being self-employed business owners, the property portfolio did what their business of 25 years hadn't: provided a retirement fund.

It's a scary reality coming to what should be the end of your working life and realising that you are massively underfunded. I see the disappointment in their eyes, the almost annoyed (with themselves) smile at not doing something sooner. The same story comes out every time, I had a property in the 80s, if only I'd kept it, and bought another.

I tell them all the same thing…

60s is the new 40s… so you have heaps of time to build your investment property portfolio, what you don't have is time to wait.

Secondly, lenders in many cases are fine to lend until your 75th birthday, so the term may be shortened and the repayments may be higher but that doesn't mean that you should stop. In fact, all the more reason to keep building on your investment.

Finally, its not so much a matter of your age, its a matter of your income. If you can show a passive income through property and other investments then your age is not the worry.

The truth is that Gladfish and the team can do a lot for our over 60s investors, the strategies will be more conservative (but that's how you would want it).

One final point, at 60 you still have 20 good years left especially with medical advances. Twenty years is a whole lot of capital growth. Twenty years is a whole lot of rental income. Twenty years is a whole lot of living to be done.

My question to you if you're under 60 and reading this is – why wait until you're 60 to learn the lesson? Get in now and get started.

If you're sick of waiting and just want to get going or perhaps if you just want more detail, give the team a call on +44 (0)207 923 6100 today.

Live with passion,
Brett Alegre-Wood

Brett Alegre-Wood
May 25, 2012

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