9 Tips to Retire With Wealth If You Make Under $50,000
8) Invest in a Home
One of the biggest expenses anyone pays is for housing. When a person is retired and living on a limited fixed income, managing to pay the rent is especially difficult. Rents are rising steadily, too, because of more demand. If you hit retirement age and are still paying rent, it can become a terrific burden. Many people wind up facing tragic consequences, including homelessness. If you invest in an affordable home – and do that early in life – you can pay off the mortgage before you retire. That will free you up from one of the most challenging financial headaches. Plus you’ll have the security of living in your own home, rent free.