RETIREMENT: Real Estate For Old Age

Real estate investing is a profitable way to provide a steady source of income for retirement. Direct ownership involves purchasing real estate and renting it out for an extended period of time, while house flipping involves paying a cheap price for a property and upgrading it before selling it for a profit. REITs are a grouping of properties managed by an investment firm, with the properties being rented out and investors earning dividends in exchange. Real estate investment can provide diversification and liquidity, as well as tax advantages such as depreciation, the lack of an expiration date, and tax credits for upgrades. Creating an estate plan with an inherited IRA is one way to maximize tax savings, while investing in real estate is a great option for anyone looking to enhance their financial situation in preparation for retirement. It is important to consult with an investment professional to develop a thorough plan based on individual preferences, budget, and goals.

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