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Do You Have A Plan B - And Why Would You Need One?

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By : Julie Vale    99 or more times read
Hi, this is Julie Vale from OwnYourLifeClub.

Our economy in Australia was booming, house prices were increasing, the share market was achieving new highs, retirement funds were skyrocketing! Everything was going great guns. And then … a few months ago we started hearing about something called a ‘sub-prime mortgage crisis’ in the US, where house prices tumbled, thousands lost their homes, banks were in trouble. But it was their problem, it could never happen here in Australia! Could it?

Fast forward to today and there’s a lot of doom and gloom in the air here too. Interest rates have risen, house prices have stabilised in most areas, the share market has taken a tumble, our retirement funds have dwindled, petrol is sold at prices we could never have imagined, job losses are expected to increase.

You might think your job is safe - and it may be for now. But how would you and your family be affected if you lost your job? What’s your Plan B if your Plan A hits a brick wall? Most people leave it too late to consider their Plan B - when they’ve lost their job, or their retirement funds are suddenly not enough to retire on, or interest rates have risen to the point where they’re in mortgage stress and may lose their family home.

NOW is the time to think about your Plan B. Don’t leave it so late that you can’t afford to invest in the very thing that will make a difference to your lifestyle in retirement.

But, where do you start? A lot of people start with real estate because owning an investment property doesn’t need to take a lot of your time after the initial education phase. I believe that property can be a great way to build wealth as it leverages your time, it leverages your money, it’s passive and it’s solid bricks and mortar!

If you want to learn how to become rich, take a look at what the rich people do. Every year the BRW Rich List shows approximately 70%–80% of people on the list have made their money through property or they hold their money in property.

Even though there is a lot of fear in the real estate market at the moment due to the current US housing crisis, it could be a good time to start looking around as there are plenty of bargains to be had. No-one knows when the current situation will improve but if you have time on your side, if you have equity and some money for investing, as well as the right advice, do your homework and start looking for an investment property.

I hope you enjoyed my article and if you think you might be interested in reading more, please visit my website soon.

Julie Vale from OwnYourLifeClub
I am passionate about helping people achieve success in their personal and financial lives. Please visit my website - - and enjoy all the wonderful resources available to you there.
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