For everyone in Lubbock that is recently retired, soon to be retired, or committed to securing his or her financial future, now is the time to start ensuring that you get to have the retirement that you want.  When you retire you’re finally on your time again. You’ve spent your life working hard, giving your time to someone else, and now it’s finally your chance to do what you want to do; whether that’s spoil the grandkids, take that European vacation that you’ve always dreamed of, or eat and drink at the finest restaurants. In order to enjoy your golden years, you need to plan carefully so that you have enough resources to live the life that you’ve aspired to without having to worry about running out of money.

Retirement capital is difficult to accrue and can disappear faster than you can imagine – nearly 30% of all retirees outlive the money that they had saved, forcing them to return to the workforce (which can be next to impossible for an elderly person that hasn’t worked in some time), or to rely on Social Security. Social Security is a subsistence-level income only, so good luck getting to do things like travel or splurge on gifts while relying on that small stipend. Your passive income is often your only source of incoming funds other than Social Security, so it’s important to make sure that you have established revenue streams that can support you living the lifestyle that you’ve imagined.

Your passive income accounts for any interest that you might be receiving from checking and savings accounts, dividends on stocks, and any cash flow from real estate investments. Unless you’re already a millionaire, your interest and dividends won’t be a significant amount, and if you are then you probably don’t need to be worried about retirement funds. Therefore, if you want to increase the amount of money that you have to live out your retirement on without having to return to work, your best option is to invest in property.

The last few years have obviously not been the best for the real estate market – or the economy in general – however things are starting to change on that front. Most major economic indicators are currently on the rise, and real estate is one of the steadiest gaining sectors. The Lubbock real estate market is one of the most improved nationally. The total number of homes for sale in Lubbock in June was up 12% compared to June of 2011 and the median sales price was up 7.8% compared to last year. This May showed even greater growth, with total sales up 24% and median price 21%. Loan rates are at favorable levels right now, people are buying homes again, and new homes are being manufactured. Now is an excellent time to secure your financial future by assuring yourself of a passive revenue stream that won’t dry up or diminish.

Your retirement is supposed to be one of the best times in your life. You are free from the burdens of having to work for someone else, you get to enjoy the good times with your family, and you get to spend your days however you want – assuming that you have taken the necessary financial steps to give yourself that freedom. No one wants to have to be a greeter at Wal-Mart just to make ends meet because you failed to plan adequately, and you’d like to have something that you can leave to those that come after you.  Contact your Lubbock realtors today to make sure your Golden years are just that – Golden.