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Is your home the key to a thriving retirement plan?

May 26, 2023 | Homeowners

Are you a baby boomer sitting on a mortgage free home? Thinking about selling that lovely abode of yours? We’ve got just the idea for you, so buckle up and get ready for some financial fun!

Picture this: You’ve lived in your home for years, building memories and a whole lot of equity. But hey, it’s time to shake things up and make that money work harder for you. Instead of settling for a quiet retirement, let’s dive into the world of investment properties!

First things first, selling your home means you’re unleashing a treasure chest of cash. And let’s face it, having all that money just sitting around loosing value isn’t very fun or savvy. So, why not put it to work by investing in some rental properties? With a little bit of effort and strategy, you can turn those properties into cash-flowing machines, pumping money into your retirement savings.

Imagine this: You’re sipping margaritas on a tropical beach while your investment properties are busy generating a steady stream of income. It’s like having your own personal ATM that never runs out of money. Retirement has never sounded so sweet!

But wait, there’s more! Real estate investing comes with some nifty perks. For starters, you’ll be diversifying your investment portfolio. Gone are the days of putting all your retirement eggs in one house-shaped basket. By spreading your investments across multiple properties, you’re reducing risk and giving yourself more financial flexibility.

Oh, did I mention the tax benefits? Yep, that’s right. Real estate investing comes with a side dish of tax deductions. You’ll be laughing all the way to the bank, or rather, the CRA, as you deduct expenses like property taxes, maintenance costs, and even that sweet vacation you took to check on your properties (totally necessary, right?).

Now, I know what you might be thinking: “But what if I don’t want the hassle of being a landlord?” Well, fret not! You can always hire a property manager to handle the nitty-gritty stuff for you. That way, you can focus on enjoying your retirement while someone else takes care of those leaky faucets and tenant complaints.

So, dear baby boomer, why settle for a mediocre retirement when you can dive headfirst into the world of investment properties? Sell that home, unleash the cash, and let it work for you while you relax and soak up the sun. It’s time to turn your retirement dreams into a reality, one fabulous investment property at a time!