Investing is almost always a good idea. Well, at least that is what economists often say. I know for certain they told me that in all of my economic classes. Let me clarify- investing is almost always a good idea but investing is not for everyone. If you are a student or have a trust fund that will finance your retirement then maybe investing is not for you. For those starting careers or for those not sure how to fund their retirement, investing is a reasonable option for earning money. I do not have an investment portfolio yet but once I am working a full-time salary job, I intend to begin creating one. One of the things I plan to consider is an investment in real estate and let me tell you why.
First, I have seen it be successful for friends and family. Second, my friends who work in real estate, even with the ups and downs of the recent market, have achieved at the very least, a low form of financial security. Third, I have seen real estate investments help people over time. Below are some examples.
My grandparents own three rental properties in Georgia. While the rent checks coming in are not enormous amounts of money, they are somewhat consistent and helpful when hard economic times fall. Growing up, the parents of two of my close friends invested in real estate by fixing up houses or renting properties out. They were able to save money earned for college expenses. Lastly, two colleagues and a family friend have purchased vacation real estate and over time the rental money and the location value have helped those families gain financial independence. Some of these properties are in South Carolina but others are in New York, Connecticut, and other countries.
By no means am I saying real estate is the only way to invest, but it is one that I find helps other people or your family in more ways than just financial assistance. Giving someone a place to live, recharge, or improving a community by revitalizing a home is a lasting endeavor. It is one that will influence lives and the economy in ways you may never see. It can be an inspiration, a display of commitment, and a portfolio builder. If you’re going to invest in something why not invest in something that will make you money but also make a difference?