Retirement
I am suggesting for your 100th podcast add a fifth famous 4 question.
How long is it going to take you to retire, or what constitutes retirement for you?
And how much wealth would you need to accumulate to retire?
BP has been great over the years for newcomers, those still acquiring, but very little to none on the "R" word...retirement. Questions like do you really want to still be a landlord at 70? Do you want to still own but use a property manager and how does that work in retirement? How and when you should start to liquidate your portfolio? What are the tax consequences? How does it affect Social Security? How does IRMAA (Income-related monthly adjustment amount) affect Medicare when you're liquidating? Etc.
-
Real Estate Agent GA (#269676)
- HausZwei Homes
Quote from @Kevin Polite:You have brought up excellent questions that should be considered at some point. For some it makes sense to leave the properties in some form to future descendants. Some like my wife and I will be strategically exiting one property at a time as it makes sense. How one exits makes a difference and I would love to hear thoughts on the topic.
BP has been great over the years for newcomers, those still acquiring, but very little to none on the "R" word...retirement. Questions like do you really want to still be a landlord at 70? Do you want to still own but use a property manager and how does that work in retirement? How and when you should start to liquidate your portfolio? What are the tax consequences? How does it affect Social Security? How does IRMAA (Income-related monthly adjustment amount) affect Medicare when you're liquidating? Etc.
