Nigel Satterley talks about Property Investing
Owning your home is your best form of superannuation.
Nigel Satterley has been espousing this philosophy for many years and he should know. He bought into property when he was aged only 19. “With your own land and home you can throw the title in the top drawer and watch the value grow,” Nigel says. “Historically, land and homes will double in value every few years. “The price of shares has been eratic and while the low interest rate is wonderful for buying it’s not good for those people sweating on bank interest to get their profit for the year. “Property is the way to go.”
The Australian Financial Review notes that global equity markets have wiped more than 3.5 percentage points off annual superannuation fund returns. Although the Financial Review story does point to some optimism it quotes REST, one of the country’s biggest super funds as saying: “Only people who have been contributing 12 per cent of their salary over heir full working life may approach adequate retirement savings.” Says Nigel: “Remember your land and home are YOUR land and home and history proves they will at least double in value.”
