Retirement
I don’t have a lot of money saved for retirement. Is buying a 2 or 3 flat building a good idea for the income after I retire? I’m 60 y/o and I currently rent. And should I take the early retirement money or hold out and continue to work as lo g as I can?
Terry Says
Please keep working as long as you can. Please wait until your full retirement age — 67 — to apply for Social Security.
You don’t want to tie up your money in a rental building — especially since so much can go wrong, and expenses for repair can mount up.
At this stage, leave your money in a short-term bank account.
I hope you have some sort of retirement plan at work, or in your union.
If not, you can ask your bank to open a Roth IRA account for you — and just put it in one-year CDs to keep it safe.
