Cantissimo Senior Living Blog

Retirement can be an exciting and challenging transition. On one hand, you finally have the opportunity to relax, travel, and enjoy all the hard work you put in throughout your career. On the other hand, financial stability is still a top concern, especially since you are no longer earning a regular salary. In today's world, it's not uncommon for retirees to want to continue earning an income, even if just to supplement their current financial situation. With so many advancements in technology and the rise of the gig economy, there are now more opportunities than ever to make money from the comfort of your own home.

In this blog post, we will be discussing 5 additional ways to make money from home in retirement, beyond the traditional options like social security, pensions, and investments. Whether you're looking to supplement your income, pursue a passion, or just stay active and engaged, these opportunities can provide both financial and personal fulfillment. Here are five new ways to make money from home in retirement:

This is Part 2 - if you have not already, click here to read Part 1!

Try These Opportunities to Make Money From Home in Retirement!

Retirement is the light at the end of the tunnel. A lifetime of working hard, saving money, and enduring swings in the market has led us to that promised time of rest, relaxation, and enjoyment. However, not working means that we must rely on whatever money we have stashed away. A big part of that is managing — specifically, reducing — our spending. So how can we successfully reduce our spending in retirement?

Try These Tips to Keep More Money in Your Wallet

With the tragic collapse of the Champlain Towers South in Surfside, Florida, a startling fact emerged. The building's Homeowners Association (HOA) was aware of serious structural problems. Unfortunately, the association was not financially prepared to cover with existing funds raised over the years by HOA monthly dues. As a result, a special assessment was levied. Building residents were required to pay between $80,000 to $200,000 depending on unit size. The necessary building fixes were delayed in part because residents were reluctant to pay these high amounts.

Although it is is an extreme example, the Champlain Towers South disaster brings into sharp focus the impact of a competently run HOA on the well-being of its residents. As a result, those considering purchasing a condo or other "Common Interest Community" type housing will benefit from learning about its HOA and how well it is run.

Traveling and vacations can be expensive and complicated, especially with travel restrictions due to aging or health limitations. To enjoy a vacation with less expense and without leaving behind the comforts of home, try a staycation this year. You can enjoy time with friends and family exploring your city or learning about places around the world.

When travel is not suitable or possible, there is still an opportunity for a great staycation. Follow the tips below to make the very best of your staycation!

Top 10 Ways to Enjoy Your Next Staycation!

When it's time to make long-term care decisions for your senior parent or disabled loved one, you may be unsure as to whether they will be better off at home or in a facility-based care community. Unless your loved one has a long-term care insurance policy, you may also be wondering how you're going to pay for your loved one's long-term care expenses — as average annual costs range between $18,746 and $100,379. To learn more about long-term care planning and for some advice on paying for long-term care services, read on.

A common assumption persists that "senior living" means residing in a skilled nursing, assisted living, or memory care facility. In fact, the vast majority (96%) of adults 65 and older live in the community (homes or apartments). The motivation to "age in place" at home has a lot of appeal. An AARP study found that 90% of older U.S. adults want to stay in their homes as long as possible. The reasons for this are:

• More independence
• Familiar surroundings and routines
• Established relationships
• Lower living expense
• Avoid the cost of moving

However, as people age, the potential for needing assistance increases as the incidence of physical and mental problems grows. This threatens the ability to age in place because the older adult needs the support of caregivers.

As seniors enter retirement or financial situations change, there are resources available to help manage budgets, track spending, and plan for expenses. According to the Survey of Consumer Finances, 60% of people aged 65 or older have some debt, including medical, credit card, and housing debt. With senior debt rising and technology growing, it is advantageous to use online budgeting tools and apps to save more, spend less, avoid financial despair and enjoy retirement.

Get Your Finances on Track with These Apps and Online Tools

Once children have grown up and left the family home, many active older adults consider moving to a new home. Motivations might be driven any one or a combination of goals:

• A better climate
• To be closer to family and friends
• Lower cost
• Having a smaller space with less upkeep
• The dream home
• A one-level floorplan

No matter the reason, the first decision is whether to rent or buy. I'll cover the rent versus buy decision in a future installment, so for this blog, assume the "buy" button has been pushed.

Cars are a big part of American culture. For many, learning how to drive was a sort of rite of passage. You likely remember getting your first vehicle and some of the adventures you took with it. We love our cars, and we take them everywhere. Our homes, neighborhoods, and even cities are built around cars as a primary method of transportation. However, as we get older, we might begin to realize we need our car less and less. Alternative methods of transportation might even be safer and more convenient.

Ten great reasons to get rid of your car

As you approach the end of your career, it is important to actively think about financial planning. One of the most critical aspects of planning for retirement is deciding who will help manage your finances. When looking for a financial advisor, many factors should be considered. You might know several financial advisors personally, but your neighbor's cousin isn't always going to be the best fit for your needs. This article will cover ten tips for finding the right financial advisor towards the end of your career!

Finding the Right Financial Advisor for You