Recently, research has shown that 4 out of 10 Singaporeans would like to retire at the age of 55. Obviously, this is not something that’s easily achieved. The most common age for retirement in Singapore is considered to be 65 – therefore 55 is 10 years earlier than normal! As the average age of life is 85, that is 30 years of more living to do.
What to do in this scenario? Could you simply slog your way through life in a 9 to 5 job for 30-40 years for a salary to achieve your required retirement funds? We don’t think so. If one is to become rich, one must take some risks. In this case, one must set aside money for investment. Like a seed planted in the ground, you must take the sum you set aside and make it grow into a tree that will support you in the old age.
In the world of investing, you cannot put all your eggs into one basket. That’s because investing is, at the end of the day, a risk. There is no sure bet, anything has the possibility to fail and not provide a return on your investment. That is why wise investors spread their money throughout many assets at once so as to prevent themselves from sinking from a bad decision.
Like tools in a box, property investment is simply one of the tools that you can use to accomplish your goals. The advantage of investing in property is simple: it is one of the safest investments to be made in Singapore. Even if the property market goes through a rough patch, you can be certain that while you may sell at a loss, you will be completely deprived of the money you spent on it. Compare to investing in a company – if it goes bankrupt, there goes all your money! Since there is no natural disaster in Singapore or unstable social environment, your property investment is safe and secure.
To properly integrate property development into your plans, you must first think about your goals. Do you plan to simply “flip” the property and sell it at the first sign of rising value, even if might cost you future bigger gains, or are you in it for the long-term, preferring the steady income from renting out your property? The choice is up to you! Make wise choices and you too can become rich in the future and retire comfortably pursuing your own plans.
We hope this has been helpful insight into your future plans of property investment. If you’re looking to take advantage of this opportunity, at Condo New Launches we have a wide variety of information on new properties for you to pursue.
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