50 too old for REI - Notes vs Rentals vs ?

[Daphne Barber]

Hello BP Friends - 

Not sure where to post this, and looking for feedback. We are a couple of newbies ages 50 and 54, residing in NYC, and have been advised by an experienced investor (from BP) that we're too old to be getting into the game. He suggested that we take 500k in IRA money and roll it into a Roth IRA funded by notes (from his company). Next, completely divest ourselves from the stock market and invest the rest (about) 400K in various note funds, which return a minimum of 12%. Finally, keep $100k as cash reserves. He says this is the wisest thing to do because the returns are better than rentals, without any of the headaches. He says we're too far along in our timeline for buy and hold. Regarding any other strategies, he says for every "success story" on BP, there are 50 people you don't hear about who lost their shirts. Am I missing anything in this equation? All feedback greatly appreciated!

[Joe Villeneuve]

LOL.  It's never too late...unless you don't start at all.

Let me put it another way.  2 years from now, if you're asking that same question, you should feel ashamed.

Let me repeat.  It is never too late...unless you never start.

You are most definitely not to old for buy and hold.  I can show you where you can start getting cash flow in less than a month, and never have to spend your money...you will be using it though...many, many times.

It doesn't take that long to get into it and there are so many different ways to do it, you just follow the one(s) that work for you.  Oh, and age has nothing to do with "losing your shirt".  Whether you are 54 or 24, if you you lost your shirt, you would still need to get dressed again.