Updated about 5 years ago on . Most recent reply
First post! And it's for someone else...
Hey guys, I'm looking for advice for a parent that's reaching retirement. He's always believed in saving money but unfortunately never invested. Due to a divorce, that money was split and the house is now no more. So, for someone with roughly 150k and no debt, what sort of moves can be made to help him create passive income to live off of as he grows older?
I'm open and grateful for any and all advice.
(If I wasn't so brand new to real estate investing myself, I'd probably have a better idea of how to help him).
Most Popular Reply
Get together some of the business minded members of your family and get together a plan for your Dad.
I then would agree on one Real estate agent to help mentor and make some decisions to his future.
Make sure non of the family members want to control his account , make sure that his money is for his future.
Must be very careful but firm to help Dad.