It is no secret that today, people are living longer than ever before. But, while this can be positive for many reasons, it also means that our savings and retirement income will also be stretched out for longer, as well.
Over the past several years, many of the “traditional” savings and retirement income sources are not serving retirees or pre-retirees as well as they should be. For instance, due to the volatility in the stock market, this particular option simply cannot ensure that savings will be protected. In fact, those who have a bulk of their retirement savings in the market have likely endured many sleepless nights.
You could move your savings over to various “safer” alternatives, such as bonds, CDs, and money markets. But unfortunately, due to the historically low interest rate environment that the U.S. has been subject to, it is not likely that your money will even come close to beating – or even meeting – future inflation.
So, where can you place funds that provide you with a regular, ongoing cash flow, along with the opportunity for appreciation – and in a predominantly non-volatile niche? The answer – rental property.
In addition, owning property can also allow you numerous tax benefits, such as depreciation and the deductibility of mortgage interest and expenses. You can also increase the rent amount over time so as to help your cash flow to keep up with rising prices of goods and services in the future.
There can certainly be some work involved in maintaining your property, as well as managing tenants. But, by passing those duties along to an experienced property manager, you can rest easier, knowing that your investment is being taken care of, while you still reap the benefits. For more details on working in conjunction with a property manager in Orlando and the surrounding area, Contact Us.
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