READY TO TAKE UP THE NOMADIC LIFESTYLE AFTER RETIREMENT?
HERE’S HOW TO PLAN FOR IT
DO YOUR RESEARCH If you have a specific place in mind for your retirement, like Hawaii or Texas, look at rental costs and other lifestyle changes that can affect your budget. For example, Hawaii’s cost of living is cheaper than other popular retirement states, like Florida, but basic commodities may be more expensive. If a boat or RV is more your style, be sure to add repair and fuel costs into your budget.
You’ve worked hard for years to arrive at this moment: retirement. Now that you’re free of your 9-to-5 job, you have a lot more time for activities you enjoy. That extra time is what leads many people to turn to a nomadic lifestyle after retirement. Touring in an RV, sailing around the world, or even just retiring to a cabin in a remote locale are all popular options for new retirees. If the spirit of adventure is calling you, here are some financial tips to set you on the right path. DOWNSIZE BEFORE YOU GO Some folks choose to sell their home and use the income to fund their travels, staying in apartments and rentals as they go. If that seems too drastic, downsizing to a smaller home is also a good option, especially if you plan to travel in intervals but want a home base to return to. This also gives you the option of renting your home while you’re away and using the money to continue traveling. ASK OTHER NOMADS Crowdsource advice from friends and family members who’ve taken the leap. Lots of other people have shared your dream and made it a reality. Many have turned their experience into books or blogs, like Lynne Martin, who’s been traveling around the world with her husband, Tim, for the last three years. The Martins used the sale of their home to finance their travels. They also take cruises to cut down on travel costs and often dine in to save money.
As you go about researching and planning, be sure to consult with your financial advisor so they can help you look at your current situation and make adjustments. With the proper planning, you’ll be living your nomadic dream in no time.
APRIL SHOWERS BRING RETIREMENT INVESTORS
WHY IRA AND 401(K) REAL ESTATE INVESTING HEATS UP IN THE SPRING
2. DEMAND FROM TENANTS AND INVESTORS IS
Every spring like clockwork, we see a rise in the number of our partners and clients who invest all or part of their retirement funds in Iowa properties. On the surface, the fact that so many men and women are pouring their IRAs and/or 401(k)s into heartland apartment communities might seem surprising, but over our time in this business, we’ve uncovered a compelling reason for the trend. The first reason is this season is based around looking forward. Spring- cleaning, growth, and renewal are big themes this time of year, and those ideas spur investors to look toward their financial futures in the rest of 2020 and beyond. What they see often inspires them to move their money from conventional retirement accounts into apartment communities in the heartland. From our perspective, that inspiration breaks down into three categories. 1. SHIFTING THE FUNDS IS EASY. The process of investing an IRA into an apartment community sounds like it would be fraught with confusion and complex paperwork, but it’s actually easier than most people think. Not only that, but the costs are negligible, too. Most investors find the entire process can be completed in less than two weeks with minimal paperwork or information required.
ON THE RISE. It’s no secret that demand is high, and most investors know intuitively that it’s likely to keep climbing. Investors can capitalize on this trend and earn both tax-deferred income from rent and tax-deferred profits from eventual sales.
3. THERE’S NO DRAMA IN THE HEARTLAND. Heartland apartment communities are typically immune from economic, political, and social drama and continue to chug along month after month, year after year. That makes them a safe retirement plan!
If you ever have any questions about how this profitable process could work for you, don’t hesitate to reach out to Darin. He’d love to help you get started!
2 DARINGARMAN.COM
Published by The Newsletter Pro • www.TheNewsletterPro.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online