[USER]

I am 55, a real estate broker for 25 years. I never really got deep in to investing or anything. I basically made enough to raise my kids. I don’t have a big company, I don’t have a 401K; I do have about 50K in savings and own one property that is worth around 400K that is just sitting there not making me any money. I am thinking about selling it. If I do, I’d have the 450K to invest. Where to invest though?

I tried the stock market and lost money, I don’t want to be a landlord – I am not land lord material; too soft of a heart for that. 55 with no retirement. What do I do?

[Sean]

Investing it all into the stock market into a low cost index fund could get you to be able to retire decently in 10 years or so.

[Elizabeth]

“I tried the stock market and lost money” tells me you do not understand the stock market. Maybe read up a bit. I know folks in here can recommend some books!

[Michael]

With your level of experience in real estate, I’m guessing you have seen prices rise and clients of yours build significant wealth through purchases and holds of real estate.

You understand your weaknesses and limitations, which is admirable. However, through your connections over the years, I’m betting that you could partner with a current or former client.

Your role could be to find the location and get it under contract. Your partner is in charge of managing it over the term of the partnership. Both of you contribute funds towards the down payment and the qualifying of the mortgage.

In less than 10 years, depending on your market, you can build wealth through real estate assets and cash flow to one day replace your income.

Useful: Everyone always says: Investing in real estate is the best way to grow wealth

[Monique]

Focus on your investing education. If you want more passive investing. Selling the property and putting part in an S& P 500 index fund and part in syndications are great options. You might need an FA too look over your entire situation tho.

You can check also: What do you guys know about annuity investment?

[Sophia]

Read about what you’re doing before following any advice from anyone. Libraries have plenty of books on investing. If you don’t understand investing and just put money in any of the funds people are suggesting, WHEN (not if) it goes down at some point you will probably panic (as most people do) and pull your money out at a loss because you didn’t understand what was happening. Just read read read. Anything. Develop your investing mindset with practice before dumping all your money into any one thing.

[Author]

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