The Drivers Behind investing in Main Street investments:
Baby Boomers downsizing
The Insured Retirement Institute reports only 23% of Boomers believe their savings to last throughout their retirement or that they have done a good job preparing for retirement.
Lack of Savings!
It’s not just a Baby Boomer epidemic its everyone.
Consider these statistics from the Insured Retirement Institute:
24% Have No Savings – People spent every single penny of each paycheck and just getting by. You will not believe how many households I talk to while coaching that are bringing in $200,00-300,000 and only able to save $10-20k a year. It’s crazy!
Of Baby Boomers, roughly 50% Live Off of Social Security – Unfortunately, these payments are often not substantial enough to sustain the same lifestyle. Who can live on $2-5K a month!
Freddie Mac received in a study is of the Baby Boomers who plan to move again, 71% plan to rent.
As Baby Boomers approach retirement, investment opportunities will be readily available as will an abundance of renters.
Millennials barista jobs don’t cut it
Noticing this trend along with the millennials’ inclination to rent and taking action now by investing in affordable housing in high demand areas could pay dividends for decades to come.