Lets say you eventually want to retire, to settle down in some quiet little town and forget about everything (culture reference).
Anyway, as an option what about taking money out of savings and buying a multi-unit house for 100k or so (inflation adjusted) in a small town in the midwest and living in one unit while renting out the others? Would hiring a property management company to function as a landlord be necessary? I know tons of people have trouble with renters, so this may not be ideal.
Can you qualify for a reverse mortgage in a situation like that?
But it does seem if you could get a 2 unit house and both rent one out to a decent tenent while getting a reverse mortgage at the same time, that should help pay the bills in geriatric age. But then again how do you know if a person can function in the role of landlord into their 80s? Would handing things over to a property management company be best?