尋夢園
氣候宜人，多晴天，偶有薄雲轉雨，無雪。
正文
江城遊子個人認為能在55歲以前退休的應該算成功人士，60歲退休的應該算正常退休，而65歲才退休的應該算比較失敗的人士。
為了維持較高的生活水準和生活質量，滿足提前退休所需的所有生活開銷，光靠工資和養老金的積累是完全不夠的，而是需要投資理財。也就是說要一手賺錢，更重要的是要一手生錢。因為工資收入是有限的，而理論上投資理財所帶來的財富是可以無限的。
下麵探討一下依靠投資房提前退休的三種方法:
1，Refinance in retirement
這是三種方法中最大膽的高風險，高回報的做法。收刮的投資房一個都不賣，而是將物業增值的部分反貸一部分作為生活開銷，增加了總的貸款額度，等待所有投資房今後的capital gain。以澳洲，特別是Brisbane的良性房市這種方法是可以期待的。
Example
An investor has accumulated a property portfolio worth $6 million with $3.5 million in borrowings associated with it. The investor's LVR (loan to value ratio) is therefore 58%. The investor refinances to 60% and pulls out $100,000 in tax free funds to live off for the year. The $100,000 is added to the $3.5 million debt, taking total borrowings to $3.62 million.
2， Retire on rents
這是三種方法中比較中庸的中等風險，中等回報的做法。盡量多收刮投資房，在臨近退休時按計劃逐步買掉一部分投資房，留下一部分投資房。賣房所得的盈利付掉剩下所有物業的房貸。然後靠收租金維係日常生活開銷。
Example
An investor calculates that she needs five unencumbered properties to retire.She acquires ten properties over a period of years, lets them appreciate to a value of $8 million financed by $3 million in borrowings, then sells 5 properties, leaving five unencumbered properties. The rent from these five properties provides the funds to pay the investor's living expenses in retirement.
3， Sell up and park the proceeds
這是三種方法中風險最低，不求回報的做法。盡量多收刮投資房，在臨近退休時按計劃逐步買掉所有投資房，然後將所有賣房所得放到風險比較低的基金，最後靠基金利息或分紅來維係日常生活開銷。
Example
An investor builds a high capital growth portfolio of five properties worth $3.5 million financed by loans of $1。5 million. He sells all five properties and, after extinguishing the loans and paying capital gain tax on the sale plus sale expenses, is left with net proceeds of $1.5 million. This amount is invested in a managed fund which pay an average 7% ( or $105,000 ) distribution per year, providing the passive income that pays the investor's living costs in retirement.
為了維持較高的生活水準和生活質量，滿足提前退休所需的所有生活開銷，光靠工資和養老金的積累是完全不夠的，而是需要投資理財。也就是說要一手賺錢，更重要的是要一手生錢。因為工資收入是有限的，而理論上投資理財所帶來的財富是可以無限的。
下麵探討一下依靠投資房提前退休的三種方法:
1，Refinance in retirement
這是三種方法中最大膽的高風險，高回報的做法。收刮的投資房一個都不賣，而是將物業增值的部分反貸一部分作為生活開銷，增加了總的貸款額度，等待所有投資房今後的capital gain。以澳洲，特別是Brisbane的良性房市這種方法是可以期待的。
Example
An investor has accumulated a property portfolio worth $6 million with $3.5 million in borrowings associated with it. The investor's LVR (loan to value ratio) is therefore 58%. The investor refinances to 60% and pulls out $100,000 in tax free funds to live off for the year. The $100,000 is added to the $3.5 million debt, taking total borrowings to $3.62 million.
2， Retire on rents
這是三種方法中比較中庸的中等風險，中等回報的做法。盡量多收刮投資房，在臨近退休時按計劃逐步買掉一部分投資房，留下一部分投資房。賣房所得的盈利付掉剩下所有物業的房貸。然後靠收租金維係日常生活開銷。
Example
An investor calculates that she needs five unencumbered properties to retire.She acquires ten properties over a period of years, lets them appreciate to a value of $8 million financed by $3 million in borrowings, then sells 5 properties, leaving five unencumbered properties. The rent from these five properties provides the funds to pay the investor's living expenses in retirement.
3， Sell up and park the proceeds
這是三種方法中風險最低，不求回報的做法。盡量多收刮投資房，在臨近退休時按計劃逐步買掉所有投資房，然後將所有賣房所得放到風險比較低的基金，最後靠基金利息或分紅來維係日常生活開銷。
Example
An investor builds a high capital growth portfolio of five properties worth $3.5 million financed by loans of $1。5 million. He sells all five properties and, after extinguishing the loans and paying capital gain tax on the sale plus sale expenses, is left with net proceeds of $1.5 million. This amount is invested in a managed fund which pay an average 7% ( or $105,000 ) distribution per year, providing the passive income that pays the investor's living costs in retirement.
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