Once you begin retirement, you start to dip into the money you accumulated over the years. For some people, this may not be enough for them to live a stress-free and desirable retirement. Although you had plenty of time to accumulate funds, it can be difficult to maintain bills and necessities with your amount. Years ago, it was common for people to receive a lifelong pension from their employer, but times have changed. This is why it’s important to have alternative investment plans that can help you aside from a 401k plan. Here are a few investment options that retirees should look into.
One of the greatest ways to bring in income monthly is by investing in real estate rentals. If you have the time to structure a good rental plan, you can generate passive income. There’s a lot of responsibility that comes with owning property, but once you get the hang of things it can be easier to take on more properties. Real estate rentals are a solid investment as they can lead to capital gains and management skills.
Online Startup Lending
Businesses on the rise are always looking for people to invest in them when they need it the most. No matter how much you want to give, there is plenty of startup investment options online. When looking for the right one, consider choosing one that has experienced at least one economic downfall. This could mean that the startup business was doing well, but they didn’t have enough funds to move onto a larger market. Investing in a startup could be risky but can also bring in more earnings than you can imagine. The key is to trust your gut and go for a startup that speaks to you.
Starting a Small Business
Although some may not consider a small business an investment, there is a lot of time of money that you have to invest. This is an excellent alternative for retirees who have always had a small hobby they always wanted to pursue but never had the opportunity to during their younger years. You could easily invest in a larger public company, but that means you have little to no control. By investing in a small business, you can call the shots while generating income along the way.
Securities offered through Kalos Capital, Inc. and Investment Advisory Services offered through Kalos Management, Inc., both at 11525 Park Woods Circle, Alpharetta, GA 30005, (678) 356-1100. Retirement Income Strategies is not an affiliate or subsidiary of Kalos Capital, Inc. or Kalos Management, Inc.