Published in The Seniors Review (Niagara edition)· Oct-Nov 2009 -
So the kids have finally moved out and you suddenly realize you no longer need such a large home. Should you sell, and if you do, what do you buy next? Here's a thought. Maybe you should consider renting and investing that extra money to increase your cash flow during retirement? Perhaps the real question is not what you do next but how you do it?
Many people over the age of 50, often referred to as baby boomers, are facing this exact dilemma. Those looking to downsize are typically interested in a "turnkey" lifestyle. They want to lock the door and travel the world knowing their home is safe. That's one reason why the condo market is rapidly outpacing singel family home sales in many cities and will continue to do so for the foreseeable future. By buying a condo, you have a place to park the equity you have available in your current home and in many cases, boomers are able to live mortgage-free needing only to pay monthly condo fees and taxes. It's easy to see why this option is so attractive.
However, many are now starting to catch on to the fact that renting may be a more attractive option. When you rent, there are no monthly condo fees to pay, no maintenance issues to worry about or tax bills to deal with. More often than not, the gap that exists between owning and renting can leave hundreds of dollars a month in your pocket that you can use to enjoy your life the way you want to.
In fact, what if you could actually "live for free" by choosing to rent and using that extra money from the sale of your home to "invest for income"? Instead of buying real estate, what if you took the equity from your home and invested it in income-generating real estate, like a REIT (Real Estate Investment Trust)?
"Earn while you retire" is an investment strategy that can help you enjoy the life you've always dreamed of. It is possible to "live for free" if you use the equity from your home to invest in an income-generating investment that will create enough passive monthly income to cover your rent and leave your with extra money in your pocket to enjoy life.
Whether you choose to own or rent, the "Earn while you retire" strategy can help you enjoy retirement by creating a steady and stable passive monthly income stream from your hands-free real estate investment. Ultimately, how you apply this strategy to you own personal situation is up to you.
Skyline Apartment REIT helps their investors earn while they live life. With a real estate portfolio valued at almost $500-million that is made up of 87 properties across four Canadian provinces, Skyline is a solid investment opportunity grounded in the strength of bricks and mortar.
Want to learn how to "Earn While You Retire"? Skyline investors are currently earning a nine per cent distribution on their investments and so can you. Skyline is also RRSP and RRIF eligible.
