I read an article recently about a family in London who say they are ‘struggling to make ends meet’ on 200,000 pounds a year.
That’s the equivalent of about $390,000 Aussie dollars.
The family, who have just one daughter say this:
“In theory, with our household income, we are in the top 5 per cent of the UK population and yet it does not feel that way,”
“If you’re earning millions of pounds, then you’re OK — and at the other end of the spectrum you get everything paid for. We are caught in the middle where we are paying for everything.”
I know what you’re thinking.
How can I donate to this poor family?
Where is World Aid in all this?
What’s Bono doing?
But here’s the thing. It’s not just high earners in London feel squeezed.
Many average Australian families are finding it tough too.
That’s because as the cost of living goes up, up and up….wages are not necessarily following.
Sadly, it’s going to be even tougher for folks forced to retire on a low income like the Pension – you’ve got to scrimp and save just to get by.
And, even the small amount you get in the Pension is increasingly under attack due to the Australia’s govt’s income/expenses issue.
However, it will be much smoother sailing for those who retire on a healthy property income. That’s because you can raise your rents to keep in line with the cost of living.
That’s why now’s the time to take action to keep on track with building a healthy retirement income through property.