If you would like to add an extra $1 Million to your retirement plan, start today.  Buy one investment property:  a house, a duplex, a 4-plex, etc.  Just start.  Start with one.  Next year add another one.  Add another one on year three.

If you’re crazy like me, keep adding.

(I acquired 92 units because I have the greatest ever handymen, and I didn’t want them to find a new client.  I wanted to keep them busy.  They just kept renovating themselves out of a job as we added each new property…until we had/have almost no service requests.  True story.  My Mom finally asked me, “How many units are enough?”  I told her I never thought of it like that, I was just trying to keep Allen and Andy busy!)

The more units you acquire, the easier it gets.  You develop an “economy of scale” and your great helpers (handymen, landscapers, janitorial crew, bookkeeper, etc.) start to run like a watch.  I know you don’t believe me about this, yet.  But eventually you will.  (You can always hire the management out if you don’t find the game as exciting as I do.)

Interest rates are at an all time low.  Get out there, take a risk and add just one unit to your assets this year.  Then rinse and repeat next year.

Read the full CNN Money article here.

Happy investing, and happy retirement!