As far as real estate investing goes, you’ve got to have knowledge, time, money, and credit in some form or fashion. By the time you reach the age of 50, you've got a ton of wisdom and you typically have a few assets.
However, it doesn't take a ton of assets to actually put yourself in a position to retire.
Let me give you an example of what I mean.
You've got to understand the concept of “piles versus a stream.”
Most of us are thinking that, “I've got to save a big pile of cash in order to put myself in a position to retire even at age 50.”
Well, what if you take those existing assets that you currently have, and instead of thinking that you have to spin them down, why don’t you find a way to make them last a very long time?
Here's what I mean:
Let’s say you had $100k saved up. What if you knew how to take that $100k and supplement your income for $10,000 a year?
Every year you can learn to develop a stream of income of $10,000.
Well, if that were the case, now you only have to do that three, four or five times and you're ready to retire.
Perhaps you do that by investing in the stock market, or cutting expenses down so that you can create extra income on the backend.
A common strategy is to ladder with bonds, Roth IRAs, or certificates of deposit (CDs). Other retirees work part-time jobs in retirement to keep money coming in. These strategies, when executed properly, can maximize your money.
Maybe you even have a side hustle which has served you well and you love doing it. Now it might be time to take the love of your hobby and turn it into your full time passion.
You can do that by age 50. And retire.
If you’re eager to learn how to create additional income streams through real estate investing…
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