Asset progression is not something new in the property market. Nor is it a fancy word for property agents to influence people to sell their homes and purchase another one. Some Singaporeans have successfully made use of asset progression to build their retirement nest egg and live happily ever after. So, what exactly is asset progression?
The term asset progression refers to the selling of one class of asset and moving to the next one. Think of it like climbing a ladder. Some people call this upgrading, but there is a much more important reason why some people do this. Asset progression gives you several financial options later in life. If you do not plan for asset progression, these choices are not available to you. It is as simple as that.