Imagine living life on your terms, free to focus on family, friends and your passions. Few among us don’t desire to live this way. Passive income streams can help lead you to this reality. There are many ways to begin forming them.
Baby boomers, in particular, would do well to be thinking about passive income streams. A 1031 is one way of creating a passive income stream.
A 1031 exchange is a powerful tool used to defer capital gains taxes when selling one investment property and purchasing another. By deferring taxes, one can reinvest their profits into larger and more profitable properties, creating a larger estate for future generations. Additionally, a 1031 exchange allows investors to pass their properties to heirs with minimal tax consequences.
For mature adults, incorporating a 1031 exchange into a real estate plan can be a key component of legacy planning. Incorporating a 1031 exchange into your real estate plan requires careful planning and execution. With the right guidance and execution, a 1031 exchange can be an effective strategy for achieving your financial goals and planning for your legacy.
THE COMPLETE SOLUTION™
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Julie Ihara (RA), SRES RS- 67440
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