Maybe, you are still young and not really thinking about retirement,
I was thinking about my own family this week...
I run a real estate business and plan for the future accordingly, my goals in place and I have a set target
I asked myself. .then
Why don't I run my home life like a business?
Do we have goals as a family?
Are we strategic about all our decisions? or we are just going with the flow...year after year. .
There has been much talk about homeownership and whether it is a true vehicle for building wealth.
Well, they did a study about this recently, By the Hamilton Project , "Ten Economics Facts About Financial Well-Being in Retirement"
it was revealed that:
1. Middle-class households near retirement age have about as much wealth in their homes as they do in their retirement accounts.
“Over the past quarter century the largest single source of wealth for all but the richest households nearing retirement age has been their homes, which accounted for about two-fifths of net worth in the early 1990s and accounts for about one-third today.”
2. Home equity is a very important source of net worth to all but the wealthiest households near retirement age.
“Home equity is an important source of wealth for middle income households, accounting for more than one-third of total net worth for the second, third, and fourth quintiles of the net worth distribution… The fifth quintile has a much larger share in business equity—almost a quarter—than any other quintile. (The figure leaves out the bottom quintile of households because they have negative net worth. It is likely that these households will rely almost exclusively on Social Security in retirement.)”
This is an easy to follow chart. .where is the money coming from for retirees?
Plan accordingly and be strategic, not only about your business....but also your home life and specially your retirement.
If you would like to invest in real estate, please give me a call to discuss your options. .I recommend for you to involve real estate in your future plans...the more the better!
if there is a way we can help you with your acquisitions ...we will find it for you!