I would be asking about and researching about scams associated with retirement etc to make sure you don't get caught out.

If you are going to own investment property, I suggest you buy industrial property.

A small to moderate warehouse office complex will produce a much better return than the same investment in rental housing, & if bought wisely, will be much less hassle to own & maintain.

Don't buy an investment property in retirement,

the only reasons you buy property is for tax benefits and capital appreciation, neither are any good for a retiree looking for income.

In your case you will not pay any tax after age 60, so tax deductions are no good for you, and you can't eat bricks, its all about income.

As for rent on average residential property has a 4% gross yield, Commercial property 7% and industrial 6%.

So a residential property giving you gross 4%, minus insurance, council rates, land tax, management fees and maintenance, you will have a net return of 2.5%. Inflation is running at 2.8%, so you are slowly going backwards.

You could walk into any credit union and get more than 2.5% without any hassles. (not that I would recommend putting al your eggs in one basket) a good diversified portfolio of shares, bonds, property and cash will help even out returns.

In retirement owning residential property does not add up, better returns can be found elsewhere, as I said earlier a good financial planner will help you.

Again, I couldn't fault what Kirby483 says. Everyone has different circumstances, and as I said in my first post "one size does not necessarily fit all"

janelle@highndsitewealth.com

These people are great and deal with retired police officers, they are also qld based