Should a 77-80 yrs old continue to buy properties like condo or another house for investments ? At what age should you stop investing?
Terry Says: As long as you have a good financial plan, there is no reason to stop investing at any age! But you should make sure that you have enough liquidity — really cash in the bank that you can use as needed — so you are not forced to liquidate any of those assets in time of need. You should also have a revocable living trust, designating who can manage your investments if you are incapacitated. (And your investments should be titled in the name of your trust, which is not hard to do and has no tax consequences.) The degree of risk you take in your investments depends on your need for cash and the amount of your assets. Just make sure that you have everything organized in case the unexpected happens, and that you have named the correct beneficiaries to receive your assets via the trust when you pass on.