For most people, retirement is a time to finally do what you want. There aren?t any career obligations that need to be met and you can learn new hobbies or dedicate more time to the ones you already love. However, money can also be tight during this time. If you don?t have any sort of […]
The post Ways Your Home Can Generate Income During Retirement appeared first on Unhappy Hipsters.

For most people, retirement is a time to finally do what you want. There aren?t any career obligations that need to be met and you can learn new hobbies or dedicate more time to the ones you already love.

However, money can also be tight during this time. If you don?t have any sort of cash flow, finding ways to stretch your savings can be scary and stressful. Fortunately, there are several ways that you can use your home to generate income during retirement.
Rent Out a Room

As an empty nester, there?s a good chance that you have a room or two in your house that?s not being used. This can be an even better option if you have a basement or mother-in-law suite that isn?t being used.

Rather than letting empty space in your home go unused, you can rent it out to a tenant. The monthly rent is an excellent way to bring in extra money to help keep you financially stable.

In addition to bringing in extra cash each month, you can use your rental property as a tax deduction. If you?re renting out a portion of your home, you can deduct the percentage of your home that is being re...