Unsurprisingly, finances are a top priority for people approaching retirement age. Knowing how much you need to retire comfortably and confidently is extremely important. Yet, it can be challenging, as inflation and the increase in the cost of living will quickly erode your ability to retire. So, how can you address your concerns effectively and efficiently?

1. Estimate Your Expenses: Consider how your spending might change in retirement. Some costs, like commuting, may decrease, but healthcare can rise significantly. A rule of thumb is to plan for 70-90% of your pre-retirement income. Other considerations are that you may have significant personal expenses paid, such as your vehicles and home. However, these expenses cost you money to keep them in good condition. So be sure to calculate, based on what age you plan on retiring, how many times you may need to replace/ repair these more significant personal expenses.

2. Factor Income Sources: In most cases, this is where retirees, or those planning for retirement, go wrong. You have been putting money away, investing, and saving. If you follow any amount of news, then you know that Social Security in America today is not at all what was projected for many retirees when it was first implemented. The system is failing, and the responsibility has shifted from the government and enormous company responsibilities to the individual. This highlights a big problem many retirees do not understand or even consider when investing early in their careers.

More so, investing in real estate comes with TWO types of insurance protections: property insurance and title insurance. When one of my partners decides to invest in real estate through Blue Bay Fund I, there is an essential type of insurance that provides protection that is not available to real estate buyers. From a passive investor’s perspective, this is a great thing to know. It gives them confidence and builds trust that their invested capital in Blue Bay Fund is the safest investment they can find. This ensures that whatever opportunity my investors are participating in, they are correctly and fully protected, with the total weight of the courts backing their interest in the investment.

What exactly is a self-directed IRA? Self-directed IRAs (SDIRA) give owners complete control over retirement funds and investing decisions. These plans can use alternative investments, like real estate, to create diversity and build retirement wealth.

Investing in mortgages can be challenging, especially when it comes to gaining liquidity. Luckily, Blue Bay Fund has a unique solution that will help its partners overcome this challenge. Our fund allows partners to buy a slice of a mortgage or the entire mortgage and list their purchased slice(s) for sale to other fund partners at par value.