People spend better part of their lives earning a living to make their lives and that of their families secure and comfortable.
Therefore, when they retire, which is inevitable, they want to be able to enjoy the hard labor of their youth.
Many people also take to traveling, something they could not do while they were young and working.
However, for all this money is required.
One of the best ways to save money is through investments.
While there are many types of investments, investing money in undeveloped land can be extremely beneficial financially.
Real estate is something that has certain amount of risk, but the profits can multiply very fast when the value of the real estate escalates.
There have been instances when people owning land parcels have been approached by developers to buy the land.
The proceeds from the sale have been used to fund IRAs as well as buy another parcel.
Also, the tax on undeveloped land is minimal.
So, you will not be spending that much money on property taxes.
Land prices are usually not governed by the rise and fall of the stock market.
And, since there is always shortage of land for development, the price of land in an area will definitely see an increase, especially if it located in a growth region.
It is best to buy land in an area where there is going to be anticipated growth.
This will increase the value of the land.
When you sell it, you will come away with a tidy profit that you can then reinvest.
Also, make sure that you start buying land parcels as investment at least 10 to 20 years before you retire.
This will ensure that value of the land increases during that period.
If you are looking to expand your investment portfolio, this is a very good way to go about.