A strong job market left many Americans with extra “dry powder” in 2023, in the form of increased savings and retirement plan contributions. With the right guidance from financial professionals, these extra funds can be used to purchase real estate – like Merrick Manor’s last few rented condominiums.
On average, retirement plans grew by 19% nationally in 2023, according to Vanguard’s annual “How America Saves 2024” report. Vanguard based its analysis on average participant account balances, which closed the year at $134,128. Employees were comfortable boosting their plan contributions amid low unemployment and widespread salary increases.
Many are not aware that specialized individual retirement accounts (IRA) can be utilized for real estate purchases. Self-directed IRAs offer the flexibility to consider alternative assets including real estate, with the same rules and tax benefits. The rented condos at Coral Gables building Merrick Manor are a particularly attractive option for this vehicle.
Speak with your financial professional to get a better understanding of self-directed IRAs and options for other retirement accounts.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit our Model Residence 527 on the at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. Open from 11 a.m. to 5 p.m. on Monday through Friday and weekends by appointment.
