Over Investing in Real Estate
You may be looking for ways for income sources that don’t necessitate a lot of work, especially during retirement. A lot of seniors, therefore, turn to real estate. This may indeed be a great opportunity for some, but overinvesting in real estate could be your downfall, too.
The more you invest the more you have to balance depreciation, maintenance fees, and everything in between. Will you have the time and resources to keep it up? Maybe when you’re 50 or 60, but not so much when you’re over 70- unless your health is in tip-top shape, but how many seniors can say that?
So, think about how much you can invest in real estate, then think about whether you should!
There you have it! These are the most common mistakes that people in their 50s make. In the years before retirement, it’s imperative for you to avoid them, otherwise your golden years won’t be as golden as you’d like!
