Real estate is only viable retirement strategy

It may be a bitter pill to swallow for boomers headed into retirement with only meagre returns on fixed-income investments, but the advice of a leading real estate expert may keep others from following their lead.

“Many Canadians today are having trouble with their retirement strategy and they are worried about outliving their money,” says Bruce Firestone, an investor and broker from Ottawa.

“There are a few reasons for that: inflation, low interest rates and saving. Most people don’t have defined benefit pensions anymore.”

Firestone will share his secrets on how to develop successful real estate investment alternatives during his keynote session at CREW’s Toronto InvestorForum, which will be held on March 28 and 29 at The International Centre.

He will also speak about finding ways to improve returns by adding differentiated value and diversifying, which he says should include owning your own home, buying some residential rentals, investing in small commercial properties and holding some land.

“The longest journey is the one where you never take the first step,” adds Firestone. “People think nothing of buying $100,000 of poor returning mutual funds, but hesitate to buy a duplex or industrial condo with double-digit returns.

“Real estate is the one retirement strategy that really works for the average person.”

Register to attend the InvestorForum here

Keep an eye out for CREW’s February/March issue, which will showcase a range of strategies on how to Retire Rich on Real Estate.

 

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