4 Ways Your Home Can Pay You

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lol, someone could rent a room for 14 days out of the year for let's say....$4800....if there's an agreement b/n the person and the "owner" and the "renter" that the "renter" may stay in the "owner's" house for free the other 351 days....whoa!!!

asmbib of LA 2:06AM April 17, 2011

I think though generally true (Points in the article), everyone looks at things differently.
Rental stream as additional income (if not BANKING upon it to make ends meet) is after all an added Bonus and why not ?? However it comes with its own share of problems (Privacy, noise etc).However if a decent renter pays on time, keeps the place clean and in order and is respectful,GO FOR IT !!!!
For those landlords who want to rent to "MAKE A LIVING"- Good Luck

TK of TX 6:28AM April 13, 2011

That is about the poorest advice I have ever heard or read in my life. Do you really mean those words? Rent is out of sight, taxes are deductible. Privacy and familiar surroundings are often times very important to folks retiring And, if you don't like the place after you have signed a year's lease, which is all too common, you are stuck there. Maintenance on rentals or apartments is historically low. Landlords are another issue. Think of something intelligent here.

Cara of GA 8:25PM April 08, 2011

ya like if my home is paid for i'm going to pay the outrages amount renters whent for apts now day's even if i devided my taxes into monthly payments it's no where near what I'll have to pay to rent.And I know my house is clean and well taken care off.And I dont have to remember to pay another monthly bill.

maria garcia of TX 6:15PM April 08, 2011

according to life future I hold in my mind; Peace of mind is the main efficient goal for human being.
find ur home carefully maybe you can get PEACE OF MIND there.

omar 9:03AM April 07, 2011

The comment about rented to avoid property taxes always gets me. Believe me if you touch real estate you pay property taxes. If you rent, you just pay them through your landlord. I know, I have sixty rentals and when the property taxes go up the rent goes up.

Land Lord of IN 8:27AM April 05, 2011

Meditate, be mindful of breath and be grateful for WHAT IS. It's the only answer.

St.Orr of NY 3:07PM April 03, 2011

I'm 55 and don't know what I'm going to do when I get older. In fact you never know when your health will turn and you can't keep working.
401K went south a long time ago and that money is gone forever. Spent most of my career building that up so I didn't have much money anywhere else. The house has lost all its value to the point it may be sold for less than I bought for 20 years ago. I don't know where to start putting money to try and build a little nest egg before I lose my job or my health. Nothing pays anything anymore.
I don't want to work till the day I drop dead, but it seems that is the option for most of us. Keep your health the best you can and keep compeating with the youngsters who want your job. Any better ideas? Post them, Please !!

Carl of MI 1:15PM March 31, 2011

I am very lucky because I knew better than to depend on the IRA's and TSA's for income in retirement - I always felt it was a scam to "fluff" up the Wall Street economy, and that Congress "forced" the taxpayer into doing it because they wanted to gain also, - therefore the tax break for doing it. It is outrageous that they now want to "privatize" Social Security where the exact same thing will happen. Retirement planning is hopeless if you cannot depend on the market when you need it. Of four TSA's that I had, only one ever made any money.
So I ended up renting out my home for several years, eventually trading it for a condo. When the condo fees got so expensive, I rented out that place also, and moved to another area. I now have the two rental incomes to add to my job retirement plan. I don't get much Social Security, because I never did earn that much, and what I do get I put in savings to pay my property tax and income tax with. I never, ever could have made it if I had depended on those TSA's or on Social Security for my retirement years.

Helen Cawyer of CA 4:39AM March 31, 2011

There are two serious retirement financial black holes that are draining seniors of income.
The first & most damaging are ever increasing property taxes. In most areas they are consuming up to 20% of retirees income & are increasing by 5% to 10% annually.
Secondly,these older people are not in a position add to their annual income, in fact 90+% of it is fixed. With the "Dot-Com market crash" & the "2008 Market Crash" they have been all but completely abandoned the stock market. Unfortunately the annuities, bond market & other fixed rate investments that they have turned to are offering returns that are near or below all-time historical lows.
This double blow has driven millions of them into a near poverty levels of existance. They cannot afford the mega increases in fuel, food and basics.

Robert M. Paine of CT 1:05PM March 27, 2011