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Hannah McQueen of enableMe is holding a series of seminars on ‘How to Get Mortgage-Free and Retirement Ready in 10 years or less’, sharing her insights on how to get rid of your mortgage, while taking the necessary steps to grow your wealth so you can be retirement ready sooner. McQueen advises taking action sooner than later, saying, “Of all the methods to address your retirement - the riskiest strategy of all is to do nothing! The key is to take action, and take action soon, so we can assess your options, put in place a strategy to close that yawning gap in your savings and put you on track to enjoy your golden years”.
It used to be that arriving at those retirement years with sufficient funds in the bank went like this. Leave school, get a job, work hard, buy a house, pay it off over 30 years, save for a bit and then settle back to enjoy retirement. Unfortunately, due partly to the changes in the housing market, times have changed. Up until the late 1980s, buying an average house in New Zealand cost two to three times the average household income. Fast forward to 2019 and that same average house will cost 6.5 times the average income and if you live in Auckland, make that 9 times!
Add to that, the fact that longer life expectancies can also mean the total bill for a comfortable retirement for the duration of your life is a large one, so getting mortgage free is more important than ever. However, the problem is, the usual plan of downsizing the family home in order to free up some capital, can prove to be problematic -and stressful if it releases less capital than you’d hoped.
The point of McQueen’s series of seminars is to encourage people to start having those conversations they have possibly been avoiding, on what they will need in their retirement, and whether they’re on track to have it. Hannah McQueen is a chartered accountant fellow, author, Authorised Financial Advisor, and founder of enableMe – Financial Personal Trainers. Find tickets to her seminar ‘How to Get Mortgage-Free and Retirement Ready in 10 years or less’, and for more information on financial advisors Auckland, financial planning and retirement planning please go to http://enableme.co.nz .