So as the title asks should I invest in REITs if I have an invest property?
Currently I own a Duplex with annual 60k gross Revenue and 18k Net positive margins after expenses, excluding vacancies. My Mortgage is 465k and I have ~300k in equity on it.
My employer sponsored accounts are currently all in target date funds with the lowest amount in bonds possible. I want to start moving out of target date funds and into a simple 3-5 fund portfolio I can set to fire and forget while adding a defined amount in monthly. I’m perfectly willing to accept a large amount of volatility because I plan on over saving to ensure I can pass something on, create generational wealth, and donate the extra.
I’ve been working for my employer since I was 19 and am enrolled in a Pension plan that I can start collecting from at 49.5 while still being employed. Basically all my it will pay 51% of my base salary when I collect and not adjust for inflation and I’m 7 years out from collecting. I’m still not quite able to believe that might happen, I have nightmares I’ll get laid off or in a car accident at 29 of 30 years, the way it’s setup it’s near worthless if I don’t go 30+ years with my employer but amazingly generous if I do.
My goal is to invest 100% of my pension once I start collecting it and be able to FIRE. But I have no desire to retire. I love my job and the people I work with and have every intention to continue working as long as I find fulfillment in it probably until at least 62 maybe longer. If I develop a significant amount of wealth my intention is to create a charitable trust and spend my retirement donating money from my trust.
I feel that my pension + social security will be enough to live on in retirement. My intention is to use my savings on top of my pension to travel while my health is good and use my fixed income to pay for my basic expenses.
Essentially, I would be perfectly fine accepting a volatile but lucrative portfolio well into retirement. Because my goal in retirement is to live simply (but very comfortably) and pass my wealth onto family and donate everything else.
Age 42 annual base income 160k + 70k overtime + 20k net rental income total annual income ~250k
Submitted August 13, 2024 at 01:27AM by Inevitable_Pride1925 https://ift.tt/cTun7ZS
