Luke on 2CC - Should I sell an investment property and put money into super?

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired live on Friday 7 June 2024. With the end of financial year just around the corner, this weeks topic looks at the issues around selling your investment property and putting it into super. There are some reasons to consider this strategy, especially if you’re approaching retirement age. Thank you for joining us live on 2CC or your favourite podcast streaming service.
Key topics covered include:

• What are the things to consider around keeping an investment property?

• What are your needs given the value of the asset?

• What is the true yield (net income) of your investment property? Don’t just look at the rent, there’s costs too, rates, insurance, strata, and so on.

• What is the cost structure of the investment property?

• What’s the best use of those funds?

• Is liquidity important to you? Do you have things you’re planning to spend money on?

• How much can you put into super? Can you claim a tax deduction to offset a capital gain if you have one?

• Think about timing to make sure you can sell your property and get it into super.

• Luke shares his top tips around selling an investment property, super and retirement planning. Seek advice if you need help.

www.envisionfinancial.com.au/...
This podcast is also available on Apple Podcasts and Spotify - ‘The Strategy Stacker - Luke Talks Money’
(open.spotify.com/show/2V0zIrO...) ( / @thestrategystacker )
Have you thought about selling an investment property before retiring?
Selling an investment property and placing the money into super might be a good retirement strategy. Seek advice before you make big decisions to help you plan your outcomes and provide income certainty. Speak to your accountant and a financial planner like Luke.
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us (www.envisionfinancial.com.au/...) form to make an appointment, for a confidential discussion about your situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week. You can catch up with ‘The Strategy Stacker - Luke Talks Money’ podcast at a time that suits you.
We look forward to your company again and Luke’s book Smart Money Strategy is out now. (www.envisionfinancial.com.au/...)
(www.envisionfinancial.com.au/...)

[@relaxfun4447]

Unfortunately my investment properties are in VIC - only got 2- and with the VIC govt just going mad I am looking at selling those properties and invest in ETFs under an industry super as I am already nearing 60 years of age.. How many years in between should it be timed to sell two investment properties? I am not certain if now is a good time to sell as a lot of invesors in VIC have been selling in droves. Which industry super allows to buy in US shares particularly AI shares? Australian Super and Vanguard do not allow it. Thanks very much. More power to your Vlog. You are helping a lot of people.

[@thestrategystacker]

the timing of your sales would be impacted by your CGT and overall income position. The choice to sell has many components as noted in the show, its not saying go and do it blindly. I don't think there is an industry fund that allows US direct investment as it may not be on the APL of those types of funds. For the same reason, a mini car will not pull a horse float.

[@relaxfun4447]

@@thestrategystacker thanks very much for your quick response and insights