Yes, you should, but keep reading and I’ll explain why. No matter what new generations think, some of us have reached the retirement still willing to participate in everyday life, and before they start pulling the plug on us while we are still in our top form, maybe we could teach them how to handle themselves when they reach our age. I decided to buy a real estate in retirement just in spite of those that looked at me like I’m heading off to the nursing home just because I’ve reached a certain age, but now I’m sure more than ever that I’ve made a right choice. I had my doubts, of course, and the following are a few pros and cons that I was considering when I asked myself the same question: Should you Buy Real Estate in Retirement?
When I was struggling with this matter, the first thing I’ve remembered were a few really honest and sad stories of people who invested and haven’t made any profit whatsoever. We’ve experienced a few recessions, not just the last one, and in one moment if you are not paying attention to the development of our and of the global economy it can really get you in a tough spot. But if you do, you can even take advantage of it.
Learning from the mistakes of those who failed is a really powerful weapon. After all, success can’t teach us too much, failure can make everything transparent. Those that lived long enough will understand exactly what I mean. Soon as I started connecting the dots, opportunities revealed themselves and I felt really confident about investing. Of course, I took professional advice, and that’s a first thing that you should be doing as well, no matter how confident you might be.
I don’t even want to repeat what my kids said to me when I told them what I was about to do. The lack of trust from my closest ones really did a number on me, and I felt depressed for some time, knowing that I will have no support in this matter. The fact that everyone wants to see me fail almost made me give up. I don’t want to get stereotyped, but it seems like my decades of earning decent money and providing for my family meant nothing.
On the other hand, I was doing this for that very same people that doubted me. Realizing that I failed to show them, all throughout my life as a parent, how dedication, stability and seizing the opportunities can help you to have a finer, happier life was a drop that made me switch my mind after all. They were concerned about the time I got left, and I was about to show them how to make the best of it.
To be honest, there weren’t too many cons. Who do I have to save my money for? I’m all taken care of, my mortgage is all paid for, I am a house owner and a taxpayer, I’ve earned my retirement and got my kids through school. In fact, here is a good article that pretty much sums everything up nicely.
My rental plan is having my house paying the mortgage by itself, and I couldn’t be happier. They say happy people live longer! Well, I might just buy a new apartment and see it through as well. I’m thinking Florida so my kids could finally have that stereotypical story about me. All jokes aside, I’m paying the mortgage biweekly, because it’s a perfect method that saves money and time also. To illustrate my point, here is a biweekly mortgage calculator that you can try on, and see what I am talking about. With payments in a shorter time period, and saving money in the process, I am going to leave a small fortune to my little doubting Toms.
Speaking of, they’re stopping by with my grandkids today. I can’t let them see me behind a computer I just hate the look they give me, like I’m operating a time machine. We are once again a happy family, they respect me more and they are grateful. So go ahead and buy a Real Estate, let us show them we still got what it takes.