How old is too old to start this business

Question

I am 51 and my significant other is 65. We really are wanting to be Real Estate Investors as our jobs feel more like voluntarily going to jail every day. Any advise.

Account Closed · Answer

At age 135 you probably should have started sooner. Any age before that is fair game.

Faith Kirk · Answer

Jim Pellerin Thank you for the suggestion. Would you be able to elaborate on the short term options that would be out there for us as we are new and not educated enough yet.

Faith Kirk · Answer

Thank you for replying. I appreciate it.

JD Martin · Answer

I wouldn't want to be trying to start with rental properties at 65, and I assume if I was still "stuck" in a job at that age I didn't have any significant savings to work with. In that case I would probably try to aim for a couple of low-hanging, inexpensive single family homes and call it a day. As for you, however, you have plenty of time. You could have a nice portfolio by 60.

That said, you would probably be better served first finding work that didn't feel like a prison sentence rather than pinning your hopes on RE, which is a long-view investing strategy rather than a short-term gambit to escape a terrible job.

Jim Pellerin · Answer

There are lots of short term income-producing strategies that you can employ so age shouldn't be a factor.

Karen O. · Answer

Never too late.