Thanks to a seating assignment onboard the Monarch of the Seas on a cruise to the Bahamas, I was recently able to meet a delightful couple with whom we shared breakfast. When I inquired about what they do when they weren’t cruising, they said they were retired (partially). Come to find out, they live in the Villages, a large retirement community in Central Florida, and have purchased rental real estate both inside and outside their IRA.
Mary finds tenants, collects rent checks, and oversees the maintenance of the five houses they own. She requests expenses to be paid from her IRA for those homes held in a self-directed IRA account. John is nearing Required Minimum Distribution (RMD) age from his IRA, which will occur when he turns 70.5. They are not concerned, as the rental properties they have purchased in their IRA are providing cash flows of 8-10%.
Because they have good tenants and friends who assist them in looking after the properties, they spend over 100 days per year on cruises. Evidently Mary scours the internet looking for last minute deals on cruise lines and usually pays less than half-price for their travels. They use the rental income from their non-IRA owned rentals to help fund their time on the water while amassing their IRA rental funds for future retirement needs.
After a good breakfast with Mary and John, it dawned on me that most of our self-directed clients are much like them – wanting to stay in control. Whether on the seas or simply walking on the beach, NuView IRA is ready to help you achieve your retirement dreams on your own terms. Give our Florida self-directed IRA administration company a call today at 877-259-3256 to discover your retirement options.
