Retirement- Exit Strategy,

[Ken Shipp]

Okay,please point me in the direction where there's the strategies,the been there done that stories of this chosen path to wealth.Quickly approaching that age now, hopefully there's a forum or group that addresses this .Everything I see is about  getting started and how to grow with real estate,surely there's advice and tips for different ways to liquidate, and how to manage the proceeds when the time comes. Any business plan is incomplete, without an exit strategy.Any input would  be welcomed.  

[Dave Foster]

@Ken Shipp.  Here's the key to the whole thing for you and you said it..."You wake up one morning and it's time to change gears and do what you purchased them for in the beginning,Retire with a comfortable income."

There are three follow up questions that will help you unravel that.

1. What is your return on those assets now?

2. What do you need to retire?

3. What options provide that?

A larger single asset that you manage is one great way to make it work.  Some folks buy the B&B in Vermont, or the apt building in Phoenix or the RV park in Kissimmee.  Will it work for you?  That depends on the answers to the above questions.  One thing I can say from our clients experience.  The allure of a homestead fortress for our retirement assets is largely a throwback to the fiefdom and then family farm days.  The thought of having your land and possessions around you where you can touch and see and manage those who manage it for you is appealing.  But the reality not always so much so. 

Kids these days (wow I've been waiting to say that for years) don't want to stay on the farm.  So leaving them your security hoping that it will be their's as well just doesn't work most times.  Secondly, if the kids are mobile then Grandma and Grandpa want to be as well.  Part of the anticipation of retirement from a job is the freedom to not have to go to work and to be able to leave and come as you want.  Even if you're only .the host of your own KOA that can still feel like an anchor.  

I have a client right now who is looking to set himself up for retirement. So his 1031 is into a number of passive fractional and a NNN opportunity. He looked at buying a big asset and managing but decided he could do almost as well absolutely passive and yet reap all kinds of extra freedom. He even looked at vacation rentals before deciding that owning one was still an anchor. But if he bought another passive instrument he still got the cash, lost the anchor and could now vacation wherever he wanted.