iscover
iscover 
As leading investment advisers, we’ve worked with plenty of Aussies who got serious about wealth building later in life. Some had equity, but no investments. Others had no plan beyond the pension. Many had fear and self-doubt, but they all had one thing in common: they decided to act. So, what can you do right now to create a better retirement even if you’re starting late?
1. First, stop worrying about the past
Regret is natural, but it won’t fund your retirement. Action will. Start with where you are today. What are your assets? What’s your income? What do you need to live comfortably? Time still matters, but clarity, planning, and execution matter more from here on out.
2. Know your number
You don’t need 10 properties to retire well. In fact, you may not even need five. What you do need is clarity. How much annual income will give you peace of mind in retirement? That number becomes your North Star.
We often refer to the “Rule of 25”: multiply your desired annual income by 25 to estimate the net asset base required (excluding your home). Want $60,000 a year? You’re aiming for around $1.5 million in income-producing assets. That figure might sound high, but remember, it includes super, shares, and property.
3. Leverage what you so have
If you’ve owned your home for a while, chances are you’ve built up some equity. That’s capital you can unlock and put to work. And you don’t need a big portfolio – just one or two quality assets in the right location, held for the right reasons, can be enough. But here’s the key: it must be done strategically.
That’s why the smartest first step is to speak with a qualified property investment adviser (QPIA) – professionals with formal training who follow a strict code of conduct. They’ll help you assess your position, set realistic goals, and create a personalised, long-term strategy with confidence. Here’s what a strategic approach also includes:
- Use productive debt: Borrow to invest in income-producing assets that appreciate over time.
- Access equity from the family home with purpose.
- Have a strategic vision: Invest in markets with a clear roadmap for sustainable growth, avoiding fads or short-term gains.
- Act decisively: Once buffers are in place and the plan is sound, take action.
4. Use your income strategically
Many late starters still have a strong earning capacity. Use that to your advantage. While savings alone might not be enough, your income becomes a tool to fund and hold appreciating assets. This isn’t about budgeting harder. It’s about directing your surplus towards a bigger goal. Integrate smart money management – like MoneySMARTS, which automates bills, tracks spending, and traps surplus – and suddenly you’re not just working for your income… it’s working for you.
The magic lies in the balance between growth and stability. Focus your cash flow on servicing investment debt, building buffers, and securing assets that generate long-term wealth.
5. Let time do its work
It can sound paradoxical especially when you feel like you’re running out of time. But here’s a case study based on actual numbers that we’ve covered in our book:
Meet Gary (51) and Nancy (49). Empty-nesters in their peak earning years, Gary’s in a senior role; Nancy’s returned to full-time work. Their income is strong, but it’s all active. With a goal to retire on $3,000/week in passive income between 60 and 65, they’re well placed, but can’t rely on decades of capital growth. Their plan is structured and time-sensitive.
Their investment plan includes:
- Acquiring two investment properties, two years apart: This phases in risk and makes the most of their surplus.
- Prioritising growth for property 1 and yield for property 2: Balancing long-term value with near-term cash flow.
- Using their home loan offset account to trap surplus and reduce interest costs.
By year five, property 1 becomes cash flow positive. By year nine, property 2 is self-sustaining. Their investment strategy gradually shifts from growth mode to income mode, ensuring a smooth transition into retirement. Of course, timelines like these will vary depending on your unique financial position, borrowing capacity, and the performance of your chosen assets, so it’s crucial to have a tailored plan that reflects your individual circumstances.
6. Get the right help
When you’re starting later, you don’t have the luxury of trial and error. Surround yourself with a qualified team: an experienced financial planner, an investment-savvy mortgage broker, a qualified property investment adviser, and a tax expert who work together to get you to your goals. You need a plan that’s tailored, structured, and future-focused – not a quick fix. Don’t go it alone.
You may not be 35 anymore. But you’ve got something just as valuable: experience, clarity, and the motivation to change your future. The key is to take action. With the right plan, the right asset, and the right team behind you, you can still build a life by design – not by default. So if you’re sitting on the sidelines thinking, “I’m too late,” just remember this: the best time to plant a tree was 20 years ago. The second best time? Today.
Bryce Holdaway and Ben Kingsley are co-authors of How to Retire on $3,000 a Week: The Property Couch’s Playbook for Passive Property Investing.