What are my options if I’m asset rich and cash poor?
Rising living costs have made it tricky for many Australians to make ends meet. If you own your own home, you’ve benefitted from rising property prices – but only on paper. If you want more money to live on, we step you through five ways to boost your bank account:
- Borrow against your home (reverse mortgage)
- The Australian Government’s Home Equity Access Scheme
- Rent out a room
- Rent out your home for part of the year
- Earn an income from your spare space.
Click here to read more about the points mentioned above and how they may relate to your current or future situation.
If you need more money to live on, FPW Financial Advice is here to discuss your options with you so that you can move towards your goals with confidence.
Until next time,
Regards Rodney.
Rodney Johnstone CFP BBus, DipFP, GradDipAppFin
Authorised Representative of Count Financial Limited
Financial Adviser, FPW Financial Advice Pty Ltd
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If you would like to get in touch to have a chat about any of the services that FPW Financial Advice provides, click here