Investing, next steps...

[Jessica4585]

Hi everyone, I am looking for some inspiring advice...

I am retiring in a few weeks, woohoo! I have only one child left in last year of high school.

I am about to settle on the sale my last property. I have had property (IP's and PPOR both overseas and in Australia) for the last 20 or so years.

So I am 49yo (how did THAT happen?! ), will have no property assets (just some shares and self-managed super), no debt and approx $6 million cash to invest.

Previous investment experience has all been residential property. Very little success with shares.

I have somewhere to live, so no pressing need to buy another PPOR yet. I will do that after I have set up investments.

Looking at commercial property and shares - despite previous track record! I am keen to generate an income to continue re-investing. I have been to property seminars, read investment books, watched Youtube vids, I listen to financial and property podcasts, seen financial advisor etc.

I am after other real world suggestions, advice and ideas from other peoples experiences and perspectives. I would appreciate anyone's input, what would you do?

Thank you!

[masdondillard]

It's a great time to plan your next steps for investments. Considering your experience with residential property and your desire to generate income, it's a smart move to explore other avenues.
One option you might want to look into is diversifying your portfolio with a Backdoor Roth IRA. It can provide potential tax benefits and help secure your retirement income. You can find more about it in this article on what is a backdoor roth ira.
Additionally, you can consider a mix of investments, including commercial property and shares, but remember to do thorough research and possibly consult with a financial advisor to make well-informed decisions.