The Meeting Place

Investment House - To Sell Or Not

I have been retired for 7 years. My wife retires at the end of this month. Our children have all left home.

We own our own home. I own a 50% share in another house (worth between $900,000 and $950,000). We have approximately $300,000 in superannuation but virtually no bank funds.

Financial advice has suggested we sell the 2nd house to generate disposable funds and supplement income received as interest on the superannuation funds. I can see the merit of such strategy. The downside is that we will lose an investment which will almost certainly increase in value.

Alternatively, we can continue as we are. Drawing from superannuation, a small pension (currently $180 pf single) and rent from the property (currently $200 pw gross 1/2 share), would give us a reasonable living.

Is it possible to have your opinion on the matter, please?

Thank you.

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BruserSnr

If I may please pick your brains. I just bought a motorbike, actually a moped to be exact. Do I have to get planning permission to put an extension on my garage?

Would appreciate a reply, best regards.

Hi,

This is Allan (AKA BruserSnr).

Please let me explain my position. My given name is 'Allan'. I entered the conversation as 'BruserSnr' because I thought it was the accepted thing to do (a posting name, if you like). 

The post was entered in good faith. I do have an Investment Advisor which I intend to call on to discuss my affairs in general (including the investment (inherited) property). I have a little investment knowledge through life experience. I posted my question to obtain peoples' 'opinions' and not necessarily 'advice'.

I had no idea when posting, I would cause such nastiness in reply comments. I sincerely apologise for that. Had I expected that, I obviously would not have bothered.

Many thanks to those who offered constructive comments.

Can I please request this to be the end of the matter.

Thank you.

 

Hi Allan

Im sorry for the abuse that some people on here have hurled at you. 

My advise was to sell the house and place the proceeds in super - I stand by that view

Talk to your advisor on how best to split it between your wifes and your super to maximize your pensions

Allan/BruserSnr,

I didn't offer any advice. I too have had investment properties but divested them in favour of other investments. So sorry about about your experiences on this forum and all the best for your future.

BruserSnr,  whatever you choose to do I wish you the very best with it.

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