Episode 24: Keep the Original Will, and Buy a Rental House or Invest in the Market?

questions from listeners of Big Picture Retirement Podcast

It’s time again for listener questions!  Once a month, Devin and John address the questions sent in by listeners like you.

First, John hears from Glenda.  Glenda has a family member who has died, and the will can’t be found.  Uh-oh.

John explains what happens if the will can’t be found, or if the original copy can’t be found.  He also talks about why it is important to keep the original, signed copy of your will, and why you don’t want your lawyer to keep your original will.

Next, Devin answers a question from Roy.  Roy wants to know if he should invest in the stock market, or purchase a house to be rented out for income.  Devin explains when a rental property might be the right choice, considering your local real estate market and whether you have the personality to be a landlord.

John discusses the characteristics you need to have to be a successful landlord, including:

    • you have to be be young and active,
    • you have to be handy, to fix many things yourself, and
    • you have to be tough.

Owning investment real estate is not for everyone.  The choice between a rental property and the stock market is very personal – there’s no right answer for everyone.

Don’t forget to download Devin and John’s free book:  Three Steps to a Successful Retirement

Would you like to hear your question in a future listener questions episode? Send yours to questions@bigpictureretirement.net.