We all want a comfortable retirement. Has that been put out of reach? Newspapers were focused on the ‘positives’ in the latest CPI. Yay, CPI was only 6.8%, only 6.8%!
If we are fortunate enough to afford those little luxuries, they are a lot more expensive. ‘Holiday travel and accommodation’ was up 14.9% in the year to March though it has moderated from a high of 29% at Christmas.
‘Recreation and culture’, has increased by 6.4%. That means a trip to a show or movie will set you back more, forget about getting the choc top.
For those wanting to meet up with friends, ‘Restaurant meals’ increased 6.5% in Sydney. It’s even worse in Melbourne(7.6%) and in Brisbane(7.4%). Forget about that bottle of wine with dinner.
These price increases really do hurt. For anyone on a fixed income in retirement these increases result in difficult choices. Can I afford to visit my family at Christmas?
Our Leg Up can help. Most retirees that own their own property can make that property generate some extra cash. When prices rise, the value of your property and the cash it can generate is likely to rise long with it. This will allow you to continue to generate a modest passive income stream throughout your retirement.
Visit Our Leg Up to see if you can generate a cash flow from your home to make you more comfortable in these difficult times.