These days, most people are concerned about the health of their retirement savings. While early retirement was all the rage in the 1990’s, many older workers are finding that the early retirement route doesn’t add up. When they take a long, hard look at their retirement savings, early retirement doesn’t seem very likely. In fact, 30 percent of people between the ages of 65 and 69 are either still working or still looking for work. Effectively, three in ten people above the age of 65 have determined that they cannot retire.
A recent Kiplinger’s Retirement Report poll indicated that nearly 20 percent of American workers had to tap into their retirement savings before the age of 59 ½. Tapping into your retirement savings virtually guarantees that you won’t have enough for your retirement. In addition, using tax-deferred retirement funds will earn you a 10% penalty on top of the taxes you’ll have to pay on the money.
So how are people funding early retirements these days? Many aren’t, but there are some strategies you can employ to position yourself to take advantage of the opportunity to retire early, if it arises for you.
An investment in Mexico real estate might just push your retirement investments into strong positive territory. In certain markets in Mexico, the property values are hot. Puerto Vallarta happens to be one of those areas. Major Federal government investments are putting Puerto Vallarta into the spotlight again. Known as a perennial vacation favorite, Puerto Vallarta and other Mexican resort towns are the mainstay of Mexico’s current economic plans.
Right now, Mexico’s economy is heavily dependent upon oil. As a major oil producer, Mexico should be (and is) in a good position. Mexican economists realize, however, that it is critical to reform the basis of Mexico’s economy. Just as an investor wants a diversified portfolio, Mexico’s political powers want to see a diversified, strong Mexican economy with input from many sectors. One of the first income producers they want to develop is tourism.
The infrastructure investments are a solid win for Puerto Vallarta property owners. As the city grows and expands, both the demand and the price for real estate increase. In five years, luxury real estate for the individual builder will be difficult – if not impossible – to find. That’s why it’s critical for individuals to act right now. If you’re interested in capturing this growth opportunity, please don’t wait. Contact a Select Mexico Properties sales representative today!
Photo Credit: Sophie
Relevant Tags:early retirement, retirement investments, retirement savings, stretching retirement dollars
