I have been there? We all have been there. And, some of us are still there.
If I don’t have enough. How do I make up for lost time? I focus on 3 variables when I’m thinking of creating, accumulating and saving money for retirement.
#1 is using a retirement account. Retirement accounts have rules regarding how much money you can put in them on an annual basis.
#2 is our age and it’s always moving in the wrong direction.
#3 is the rate of return we can expect to earn on our money.
If you want to leave your money in a “certificate of death” or “certificate of depression” down at your local bank, you’re going to earn less than 1%. In fact that pretty much proves true also for any Roth IRA or Traditional IRA at a traditional bank.
If you want to play on Wall Street with stocks, you can make a lot of money and you could also lose a lot of money.
I think over time the average stock market return is 12% over a really long period of time.
How do I make up for lost time?
Investigate opening a Self-Directed IRA account. What I love about a Self-Directed IRA is that I can control much more closely my rate of return. I can chose to go into deals where my return is going to better than 12%. This is what my Private Money Partners do to grow their retirement accounts.
When you get these kinds of return your contributions start to grow quicker and faster. That’s one of the powerful things that comes with being involved with Self-Directed retirement accounts.
You should look toward Self-Directing a portion of your retirement accounts. Always remember diversification is key. Don’t put all your eggs in one basket.
********************************* If you are reading my blog for the first time, let me inform you that… My company buys single-family houses and I write this blog bi-weekly which is primarily directed to educate 1 group of individuals:
Individuals who are losing their shirt as a result of the “roller coaster” volatility of the stock market and low paying rate of other traditional investments, i.e. people that are looking for an opportunity that’ll provide a secured place to put their money to get it working for them to earn better than average returns.
However, often times, homeowners that need to sell their house, stop by to take a peek because they are curious and wondering how and/or where we get the funding to purchase houses. And if they stick around long enough, they begin to understand why individuals partner with us to provide the funding which empowers us to be able to purchase real estate on a continual basis. Simple, it’s because we teach them a secured way to earn better rates of return than they are currently earning.
So everybody wins. It’s a WIN-WIN-WIN !!!
Request your FREE Education Kit if you are interested in learning how passively investing in real estate may help place you in a better financial position.
Disclaimer: This site is intended for educational purposes only. I am not an accountant, attorney or licensed financial planner. While the information I’m writing here is based on many years of experience buying houses that doesn’t really constitute professional advice (since everyone’s experiences and situations are different).