This could be their last day on earth so they should enjoy it. Obviously, in San Diego, real estate can be a wise as well as enjoyable investment. A home that serves as your residence can provide financial options not associated with renting, in addition to tax advantages. But once immediate dreams are fulfilled, it's time to take a look at the big picture. Most financial planners suggest a more diversified portfolio.
Diversification is important for investors.
There are also plans that create a financial hedge against difficult times, such as putting aside a nest egg in case of being laid off or retirement. Some people set up trust funds for their children or start a foundation to improve the world. Estate planning is also critical. We're all mortally challenged. With more assets, greater insurance can help protect those funds as well.