In part three of our interview with Nick Toman of Empowered Financial Management, we’re discussing owning real estate and how that aids the diversification of your portfolio.
Nick often receives questions about whether people should own real estate in their retirement years. If you like having properties in your portfolio or enjoyed owning property over the years, sometimes that can be a good anchor to a great income plan. For example, rental properties could be an excellent source of monthly income. This may give you some flexibility considering other retirement benefits, like social security or a pension. That cash flow may allow you to delay collecting some of those benefits, which could help out later in life.
“Rental properties could be an excellent source of monthly income.”
The key in retirement, if you want to own real estate, is to be prepared; there is some work involved. However, some enjoy this, viewing it almost like having a hobby. If you want to own real estate, Nick would encourage you to do so. Not only is it an additional income, but you may enjoy it.
If you have further questions about anything we discussed, reach out by phone or email to me or Nick Toman at your convenience. We would love to help you.