Tips for Retirees Investing in Real Estate

Real estate is a great investment option for your retirement money, as long as the company you choose gives current returns.  Meaning, your initial capital is annually recovered on a cash-on-cash basis.  Companies that guarantee current returns will have enough cash to pay timely distributions and cover operational expenses.

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If you are more into passive income, rental property is a good choice.  Investing in a retail store, a condominium unit, or an apartment complex could be the way to go, as these properties do not require active management.

Sure, upkeep is your responsibility, but more often than not, this depends on the time you spend in getting the best people to lease a unit to.  Look for those with a stable source of income or an established business.

Keep in mind that a property’s value and its income depends on careful choosing of an advantageous location and credit-safe tenants, minimal upkeep needs, and planning for annual or scheduled rental increases.

All in all, investing in real estate gives you a great degree of control over your retirement money as it allows for more relaxed taxes and inflation, plus the potential for the property’s appreciation is entirely up to you.

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Solomon’s Choice Capital is a New York-based financial services firm committed to helping individuals  create  the  investment  plans they  need  to  meet  their  retirement  goals.  For more on the company’s services, click here.

Fun post-retirement activities you should be saving for

Retirement need not be a drag if you prepare for it. One of the best tips we can give you is to treat retirement like a business. Before it comes, make sure your financial safety net is secure enough to last you through years of low-to-zero income. Once you’ve saved enough, you can do almost anything you’ve always wanted to do. 

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A lot of retirees go traveling. They get to visit the places on postcards that have been on their work desks for the longest time. Whether with friends or with their loved ones, one of the most popular activities of retirees is to see the world. 

Another great activity that retirees should save up for is studying. Though many night courses are free, some may require you to buy certain materials. Painting is a great hobby, as is photography. Some retirees love to learn new languages, which help them when they travel. More manly retirees go for courses like DIY Home Improvement and apply what they learned to their own home. 

But probably what retirees enjoy the most is spending time with loved ones. This isn’t an activity as much as a set of activities. Many retirees have grandkids. Taking them to theme parks or beaches or the neighborhood malls needs cash, which is why it’s important to have saved up for this. 

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Solomon’s Choice Capital is a financial services company based in New York. Learn more about the company and the work it does by visiting this website.