Although the majority of 401(k) participants believe they need to have between $1 and 3 million on average to retire, not many are on track to get there. The NIRS recommends American citizens find extra sources of retirement income to retire comfortably, rather than struggle with the average income the social security provides annually. Even many financial planners today have discovered the little secret, therefore, they no longer encourage savers to count on any source other than themselves to make preparations for retirement. One such expert is Eric Martel. He is the proud owner of MartelTurnkey, and he made a decision to invest in the real estate business and is currently enjoying the fruits of his investment. From his experience, he now advises everyone to invest in this profitable business sector too. According to Martel, it is possible to save for retirement with a strategy that converts your cash into a monthly income stream. Here’s how you can do it.
Invest In A Business That Will Give You The Financial Freedom You Need
As mentioned earlier, there are many possibilities of achieving financial freedom after retirement, but most people have little to no luck finding ways to achieve it. However, this does not always have to be the case. Every penny saved does not always have to stay in the bank. Instead, you can invest money into real estate using a strategy that will help you convert that cash into monthly income.
There are several real estate strategies that can highly increase your retirement income. Some of them include but are not restricted to, rental-property purchases, multi-family syndications, shares in crowdfunding ventures that redesign houses or buy commercial properties among others. The reason why real estate is a secure way to save for retirement is that a lot of people are familiar with the idea of homeownership, so the idea of investing in real estate isn’t too complicated to embrace.
Have A Strategy In Place
When planning to retire, you must have a plan that will meet or go beyond your future expectations. The money you have been saving for years can easily turn into monthly income after retirement if you use a sound financial strategy. If you are working full time, you might feel like you do not have time to manage renovations, find tenants, etc. But with turnkey, this problem is solved. If you buy properties from a turnkey rental provider you can reach your goal and have the time to invest in other types of real estate opportunities.
Finding A Good Turnkey Investment Partner
Everyone has expectations. Making the right decisions will only give you an assurance of the next right thing to expect. Martel’s decisions of investing in real estate did not only earn him passive income generation but also gave him a chance to grow bigger. For him, this specifically led to him building his own company, The MartelTurnkey, and making it an investment center for other investors too.
“Passive income through secure investments is the only way to ensure a financially healthy retirement.” Martel quotes. Receiving an income after retirement is possible. Once you invest your money into a secure business, it is usually a sure route to attain a financially healthy retirement, eventually leading to financial freedom. Investing your money into a business that returns that money every month without you having to be actively involved in any business you invest in is one of the best deals. Plus, the real estate business gives everyone a chance to attain financial freedom no matter the age, so why not start now?
This is only possible if you set up a plan before retirement. Whichever plans you have for the future, real estate investment is a beneficial long term solution. You don’t have to wait until retirement to invest, because retirement begins approaching the moment you start working. This means, there is no time and money to wait, as you wait until then. That’s why it is advised that you should have a plan and start working on it before retirement. This will certainly help you achieve financial freedom no matter how long it’ll take, and also, continue generating passive income even after retirement.
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