For most Americans, their largest asset is their home. This week Jim and John discuss a growing trend among Boomers: tapping income from one’s home by renting out a room or rooms as another means of providing retirement income. One of the reasons the last recession was so rough was that real estate didn’t hold up, and really disrupted a lot of people’s retirement plans as their homes lost value. They discuss this trend and how specialized websites have greatly accelerated this movement to rent out spare rooms. They also discuss the downsizing option and illustrate these issues through the case study of John and Kathy Clark. The guest this week is attorney Adam Sherry who will discuss probate and incapacity issues, as well some advanced estate planning strategies for high net worth families.
.
