I picked up the October 17, 2016 issue of USA TODAY on my trip last week to Cape May, NJ. Not to rub it in but I was on another short vacation get away paid for by the tenants in the buildings I own. There was an interesting story in this issue that spoke to the warnings we have been giving clients for years about taking responsibility for your own financial future.
The story is titled MORE AMERICANS ARE MOONLIGHTING. It starts with the fact that the number of workers having multiple jobs is at an 8 year high. It went on to quote one worker who said, “I don’t mind working 68 hours a week because I get to interact with people and walk around, it’s kind of nice.” The story went on to say that companies are shying away from full time workers because of the requirements for insurance under the Affordable Care Act. If this kind of future doesn’t motivate you to start investing for your financial future I don’t know what will.
It should be clear to most of us by now that all the safety nets that we grew dependent upon have huge holes in them now. We need to work more hours to get less pay than ever before. Many have lost some or all of their retirement nest egg because of companies going out of business or stock values sinking. Yes, some real estate values did suffer in the recession, but did you notice what happened as the recession has ended? The values are moving up now. In many urban areas real estate prices are above the peaks they hit before the recession.
What we hope you take away from this is the fundamental difference between investing in real estate and investing in the stock market. The point is, real estate never goes out of business like companies do. Yes, the value might go down for a while, but it will then go back up even higher than before.
In conclusion, if you don’t invest for your family’s financial future, there is a fairly good chance that things will NOT work out the best for you. If you do invest, and do it in real estate, there is a good chance things will be very good for you. Especially if you follow the Buckingham method for investing in real estate. What you need to do is educate yourself on the ins-and-outs of real estate investing and the market you are in. You need to create a plan centered on the goals you have for you and your family. Then and only then can you start investing. The staff at Buckingham Investments are in place to help you with the whole process. Give us a call or send us an email to get started on your path to early retirement and financial freedom!