In our fast paced society it’s important to visualize the retirement you want and the assets you require to have the lifestyle you desire.
It’s important to realize that assets need to convert to a monthly cash flow to provide for your expenses.
That’s why we like self-directed IRAs that allow you to make investments in assets like free and clear houses that can provide a predictable cash flow.
An exercise that I’ve used over and over is how many houses do I need to provide for my retirement? Here’s what I did and what you can do: If a house for $75,000 provides a net of $700 per month and you desire $10,000 a month, how many houses do you need?
$10,000 / $700 = 14.29 houses
So round it up to 15 houses x $75,000 = $1,125,000
So if you could buy 15 well located houses for $1,125,000 than you will receive approximately $10,000 net each month.
Does that work for you?
Look at what your monthly income goals are and do the math for yourself.
If you would like more information on where and how to set up a self-directed IRA or 401k, or for more information on how to get the assets in these accounts, contact me today for a free consultation! RJP@BuyCashFlowProperties.com