Retirement is something that every worker in the world dreams about. The days when you can do what you want – not go to a 9 to 5 job and only really enjoy the weekends. And people stash away money in their retirement scheme in hopes that when they retire, they’ll have enough money to live comfortably for the rest of their days. These investment options are tax-deductible or tax-deferred, so it’s smart to max them out when you have the opportunity.
Income-Earning Land as an Investment
Income is what you need for retirement. Income that is not from your own hands. Passive income is best for a retiree, and owning land can provide this income. Income-earning land is the ideal choice for most retirees because it’s a safe bet.
Rental Properties: Buying vacant land and putting up a home to rent can net you significant income. This can be done hands-off with a property manager, or you can simply collect your checks monthly. There are upkeep costs and concerns:
What many people fail to recognize is that a diverse portfolio is the best option for your retirement. You want to invest in something that is long-term and secure. And, I want to emphasize that long-term is the best option when investing in land.
Investors consider land a high risk investment because it does not have a high liquidity. What this means is that it may take some time, months in most cases, to sell the land and to make a profit off of it. But land has provided many people with a very comfortable retirement.
The trick is to choose land that is:
• On the border of an area experiencing economic growth and expansion.
• Zoned appropriately, whether it be commercially or residential, for the area.
• Priced well under value compared to surrounding land.
• Land that is a already equipped for building is ideal.