Real estate or high interest saving account after 70
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Anonymous
| Is there a point in keeping house and rentals after you are 70? Why not liquidate and keep it in high interest saving account to make use easier? |
Anonymous
| Kids. Inheritance. Taxes. |
Anonymous
If you don't have kids then? |
Anonymous
| If you've more few properties and not generating income than real estate is only eating tax, insurance and maintenance and your brain. |
Anonymous
| Selling rental real estate you’ve had for awhile is going to be horrible at tax time. Always better for your heirs to inherit those assets for the stepped up basis. |
Anonymous
If you don't have heirs, I'd still say talk to an accountant/tax lawyer to optimize the conversion of your assets into cash. A reverse mortgage may be a better option than outright sale and paying taxes.. |
Anonymous
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Rental properties are a non-diversified, illiquid, business. Do you want to run a business? If not, divest yourself of the rentals and limit your asset allocation to a sensible balance between the equity in your personal residence, well-diversified, low-expense equity and bond ETFs, and a small cash emergency fund. You'll enjoy greater liquidity, reduced volatility, lower risk, and probably greater total returns.
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