29. Free Rent

Free rent? You don’t believe me. I understand. Here’s the idea. There are 70 Million Boomers retired or trying to. Most are waiting for the last possible moment because the cost of living has skyrocketed while Social Security and (unlikely) pension plan has stayed flat. Their plans and dreams for the Golden Years have been derailed.

Their children are left to deal with broke parents and have their own struggles. They can’t take on more expenses. Eventually the situation becomes critical when the parents need round-the-clock care. The children are faced with huge daycare costs and in no way can pay for a nursing home. That non-option can cost $10,000 month. They can try to sell the parent’s house but nobody nneds, wants or can afford the McMansions the Boomers lived in. If it does sell the money won’t last long.

Here’s a win-win. Ask around to find Boomers that need help to stay in their home. Make a deal to provide caretaking and chores for rent. This does not mean health care duties which can come from Medicare. Now you have money left over instead of sinking further into debt. You can pay off your student loans if so inclined. You can invest in your self-employment gig. In effect you have returned to the safe womb of your parent’s basement without actually doing so. The relentless grinding pressure will be lifted off your shoulders. You can breathe. Maybe even smile once in a while.