As a baby boomer, I have been blessed to be a part of the most financially successful generation to date, but, with this has come unique situations such as the many avenues to choose where to invest....
I have friends constantly checking market reports and following stocks. I am not sure, but I think the rush they get from this might be similar to horse racing. I always take pleasure reminding them the money they’re gambling was made in real estate…so, why change direction? The reasons vary, but generally it’s because they can get out quickly in a downturn. However, usually, it’s too late…and the damage has been done.
Another answer is “I only buy stock. That pays a good dividend.” They turn down investment property because it won’t carry itself but are happy with a dividend.
Precious metals, be it mining stock or gold and silver, are another favourite as they certainly have been on a rise as of late, but are they going to keep going? Who knows?
Others say “I’m not prepared to take a risk” so they go with a G.I.C. (no risk, but a poor return).
Well there is a real estate investment that covers all their concerns and I’ve been preaching it for years: farmland. The complaint for residential properties is “I don’t have time to be a babysitter”, but farmland is easily rentable.
Commercial properties are easy to manage, but what happens if we hit another economic downturn? Food never goes out of style, and the value of farm land always rises.
So once again, farmland requires very little management, is virtually indestructible and a safe investment considering the value always rises.
So as Will Rogers once said… "Buy land. They’re not making any more.”