We need to change as a society, because our old ways of doing things just aren’t sustainable anymore. This is in regard to the environment, of course, but it’s also in terms of our way of life. Too many retirees are living beyond their savings, and are forced to live on government help in less than ideal conditions. This is affecting those who lived the American dream. Who bought a home, had children, saved for their retirement and worked hard all their lives. The only thing stopping them from having the ideal retirement is that medical advancement has meant longer lifespans. And these lifespans are only getting longer.
That is why you need to invest in your future in ways you never considered before. One of these ways is investing into a 1031 exchange property. That way, not only can you defer tax on your capital gains, you can also set up yourself and your family for the rest of your lives. This is because these investment properties provide a monthly, passive income. It is the best business to get in to, and the most stable. Once your mortgage is paid off, the income is entirely yours.
Having this income will allow you to live the retirement dream, without worrying about running out of money. It is also how you will provide security to your children and grandchildren. It is, essentially, the ultimate legacy. The earlier you start, the better your legacy will be. For instance, you should retire early due to this passive income, but instead work to build your portfolio (in other words, gaining more investment properties) and even putting money back into them so that they, in turn, make you more money per month.
The sustainable lifestyle is doing things today that will ensure their continuation tomorrow. This means having a monthly income for the rest of your life, but it also goes beyond that. It means not spending beyond your means, it means working towards your future at every junction. It also means investing in your health.
Once you have a means of living comfortably in your retirement, you need to redouble your efforts to live a long and happy life. If you have the means to survive and enjoy your golden years, after all, why not enjoy them well-abled? Start by cutting out or at least reducing bad substances like tobacco or alcohol, and working on eating better. The more effort you put into your health, the better you will live.
There are many ways you can be sustainable as an individual, but the specific options will be unique to you. Everyone, however, should aim to have a passive income for their retirement, and put effort into ensuring that their quality of life once they retire is as great as it can be. That way you can live without worry, without stress, and you will also create a great legacy for your family that ensures their success and happiness even after you are gone.