Real estate profit
I will clear about $100000 after the sale of my 3 flat investment property. I’m a 56 year old police officer with a pension from the city when I retire in about 4 years and about $370000 in an IRA. How do you reccomend I invest the $100000? Thank you
Terry Says
Do you want to be OUT of real estate entirely? Because you could postpone taxes by doing a 1031 Exchange to a similar rental/income property (and it doesn’t have to be in Illinois!) On the other hand, it might be wise to take the profit (net of depreciation and costs) now — if you believe tax rates will rise in the future
It’s difficult to make an investment recommendation without knowing more about your entire retirement andfinancial plan, family obligations, etc. You might benefit from a free session with a FIDUCIARY (one you can trust!) financial planner (who isn’t try to sellyou something!) through Wealthramp.com.
And in the meantime, you could put it in a bank money market account or Treasury Bills (www.TreasuryDirect.gov) where you will earn almost nothing — butit will be safe until you make a decisions.
