Residential assisted living is a great way to prepare for retirement, and the business venture can position owners and operators to leave a legacy while creating generational income.
The financial opportunity in residential assisted living is unparalleled in the real estate and business investment market.
Your time to retire is rapidly approaching. Time passes quickly.
Will you be prepared to transition out of the workforce or will you still be in the planning phase for retirement?
Most people fail to save for retirement, but this doesn’t have to be your situation.
Planning is a primary ingredient in any recipe for success, especially for retirement.
Don’t make the mistake of counting on social security income as your retirement.
This is not what social security is intended for – it was specifically designed to be a supplement to your personal savings plans.
WAYS TO EARN MONEY IN ASSISTED LIVING
There are a variety of different approaches you can take to start your residential assisted living business. The RAL Academy teaches the Blueprint concept. With this concept, there are three common ways you can participate in the industry:
Own The Real Estate and Lease It to A RAL Business Operator And Get Double The Market Rent:
- Benefits range from long-term 5-year-plus lease agreements, with low impact on property, and high-profit margins.
- Own The Real Estate and Operate the RAL Business Yourself
Earn an average net income of $5,000, $10,000, $15,000 or more each month.
- Be A Private Lender or Joint Venture Investor
Private lenders gain 4-10 percent annual interest over 2-5 years, hard money lenders earn 10-14 percent interest over 6-24 months, and joint venture profit sharing or equity ranges from 12-18 percent interest or more.
The unstoppable silver tsunami of seniors is comprised of about 77 million baby boomers, with 10,000 people turning age 65 daily, and 4,000 seniors a day turning 85.
About 70 percent of these people will need assisted living accommodations at some point.
This is where you come in.
THE THREE-LEGGED STOOL
Think of a RAL business as a three-legged stool with three separate, but equal components.
If you make the mistake of overlooking one leg of your business, the stool will fall down. Remember, when considering the three legged-stool, each leg is equally important.
Your residents, staff, and business are equally important – when you keep all three components in place, your business will soar.
When it comes to exiting the workforce, your savings is an important leg of your retirement planning stool.
GET READY TO START SAVING
The sooner you start saving, the more lucrative your retirement income will become.
How Do Earlier Savings Plans Work?
- Lengthy investment time
- Increments of money saved
- Compounding of interest
Together, these three concepts will work miracles for your retirement plan.
The wise investor will avoid tossing all of their investment eggs in one basket. In other words, you should diversify your accounts.
Examples of Diversified Retirements Accounts Include:
- Exchange-Traded Funds
- Mutual Funds
- Roth IRA Plan
- 410(K) Plans
If you have a 401(K) Plan with your employer, take advantage of it.
Employers usually contribute a portion or percentage based on your individual contribution. This will create an extra boost to your retirement savings. In essence, planning for retirement begins with a savings plan.
You can only be a good investor if you are a good saver.
RALACADEMY RETIREMENT STRATEGIES
Visit www.RALAcademy.com to learn more about investment opportunities to make the most out of your leads.
The academy teaches students how to succeed as new RAL homeowners and operators.
During the 3-day course, instructors teach using an interactive live training approach.
Participants learn everything from A to Z about how to run a RAL business.
Contact the academy today to learn strategic skill sets and support structures needed to launch your RAL business to the next level.
The average elderly male needs assisted living for about 2 years – women typically need 3 years.
A Well planned retiree is able to live comfortably and conveniently within a financially secured environment under normal conditions.
Using residential assisted living to build a financial foundation is a smart move for you and your family.
We’re all going to get involved in assisted living in one way or another.
Either you’re going to own the real estate, operate the business, or you or a family member will be lying in a bed writing a check to someone that does.
Don’t wait until you’re in need of a bed, start your RAL journey today.