Sharing Daily Discoveries About Personal Finance And Business Topics

A Residual Income Plan Instead of A Retirement Plan

Since it’s tax time for most people I have been watching a lot of news reports on how many simply can’t afford to invest in a traditional retirement plan. It’s one of those stories on how these types of things only benefit the rich. I was then thinking, is it crazy to plan your retirement financially through an investment such as a business or property instead?

For example, instead of investing in some kind of government savings plan you could think of investing in things like a piece of real estate that would generate you about $3000 a month. I guess for this to work too you would have to be prepared to transition in being say an entrepreneur of sorts. While granted that is not for everyone, it did make me wonder why stuff like this wouldn’t be on the minds of people as well when we are talking about a retirement plan.

In many ways it’s almost no different than some thinking the only way to earn an income is to go with the academic route and working under a company versus learning and providing services by being a tradesman of some sort. I would love to learn unorthodox ways that others have utilized to create a secure retirement plan as restricting yourself to only one way of doing it is cheating yourself I think.




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