I am approaching retirement (60 yrs old ) and would like to relocate on retirement. Is it an option to sell my home now (240,000 mortgage, house worth 350,000 ) invest the profit in my super and draw on retirement to purchase a home in the relocation choice ?

Hi Greg,

Yes, that is certainly possible.

You should seek advice just to make sure you aren’t missing out on anything extra that you may be entitled too.

Regards
James

Yes you can do this, but it probably doesnt achieve much. You could just as easily park the $100k in a bank account if you are looking short term to access the funds.

and yes you need to get advice that covers everything you need to look at: super, tax etc etc

good luck

BC

Hi Greg,

Yes, this is possible but questions like this pose a lot of questions, such as 'how much will your next house cost?' 'will you have enough in your super to purchase a house outright and still provide income for retirement expenses?' 'How long until you buy your next house and retire?' etc etc.

I see you have at Banskia Beach. I am in North Lakes and have clients at Bribie Island. If you would like an initial discussion, please don't hesitate to get in contact. My email address is glenn@precisionwm.com.au or you can call on 1300 200 012.

Thanks,
Glenn