One thing you are never too old for is investing, particularly in real estate.  Yet that was one of the main excuses given for those not investing, according to Debbie Dragon in her article, "5 Excuses that Prevent You from Investing."  The fifth excuse listed in the piece, "I'm too old" is simply invalid for not investing in real estate for a variety of factors.

If you are close to retirement, investing in real estate is an excellent way to provide retirement income after you quit working.  Traditionally, rents in the United States increase about 5% annually.  So if your retirement lasts for 30 years, your investment income will increase more than four times.  As an example, if you receive $1000 a month in rental income in year one of your retirement, it will more than double by year 15.  That will more than double again by year 30.  Rather than $1000 a month, you will be receiving more than $50,000 annually in rental income from the property.

With the increasing rent, you could buy more rental units.  That is significant advantage of real estate investing: the cash flow is much more robust than virtually any other investment.  Rental real estate will be producing more cash for your needs in retirement than other investments.

This is particularly true in adverse economic conditions.

During The Great Recession, stocks and bonds collapsed in value.  But the level of rental income actually increased in the United States.  This is critical component in retirement income: having a portfolio of investments that will perform well during down periods in the economy.

For those who do not want to deal with the demands of rental real estate, then turnkey real estate properties should be considered for purchase.  These are properties that experienced professionals have bought, fixed up, secured suitable tenants, and managed.  It is a very streamlined way to buy rental real estate.  Additionally, the buyer benefits from the experience of others in selecting, upgrading, renting, and managing the property.

Warren Buffett, considered by many to be the greatest investor ever, is 82 years old.  He continues to invest in may companies that prosper from a strong housing market.  As an example, a company he controls, MidAmerican Energy, just bought NV Energy, a utility headquartered in Nevada.  Utility companies prosper when the real estate market is strong as there are more customers with more energy being used.  That is just one of many cases of Buffett buying into investments that gain from bullish real estate conditions.

There is no need to invest as well as Buffett, virtually impossible anyway, just prudently in real estate.   That can be done best with a passive approach for the long term.  It is never too late enrich your life from profiting through wise investments in real estate.