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Why Are So Many Retirees Renting Out Rooms In Their Homes, And Should You Join Them?

The number of retirees renting out rooms in their homes has surged, according to a new study. Why would older Americans want to take on roommates, and how does the process work?
The article from Kiplinger discusses the growing trend of retirees renting out rooms in their homes as a means to supplement their income in retirement. This practice, often facilitated by platforms like Airbnb, has become more popular due to several factors including the need for additional income to cover rising living expenses, the desire for social interaction, and the wish to stay in their homes longer. Retirees are finding that by renting out space, they can not only manage financially but also combat loneliness by having guests or tenants. The article highlights that this trend is part of a broader shift towards the "sharing economy," where retirees are leveraging their most valuable asset—their home—to generate income. It also touches on the potential benefits like tax advantages, but also notes considerations such as privacy, the physical demands of hosting, and local regulations that might affect this decision.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/retirement/happy-retirement/why-are-retirees-renting-out-rooms-in-their-homes ]


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