14. Make Money: Buy a sunny retreat for (grand)parents and have them pay the mortgage while you live in with them
You can also solve the retirement problem of your (grand)parents and enjoy a sunny retreat.
Instead of them paying $5,000 per month for retirement home, (grand)child, for example, mortgages a $150,000 foreclosed Florida beach home, thus the retirement retreat for your (grand)parents, (grand)parents cover the mortgage payments like $1,000 per month, they also rent out their own place, for $1,000 per month, so the (grand)child has a property in Florida where he can also live with his (grand)parents (he/she occupies one bedroom) enjoying the sunshine and taking care of (grand)parents so they don’t need to go to a retirement home or save money for a retirement home.
You can also drive them around with your car, so they dont need to buy a car on their own and you can help them with housekeeping, cooking for them, etc.
The longer they stay out of a retirement home, the more money they save later on.
You can also improve the budgets of your (grand)parents with all the ideas outlined on this website.
For example, health insurance, you can put their healthcare insurance on your family plan, saving $200-$300 per month, save on car insurance $100-$200 per month, instead of life insurance of $1 million, use term insurance of $1 million costing only several $100s per month, thus save $300-$400 per month and cash in on life insurance policy, cut their utility bills, cable, phone by $100-$200 per month. As a result, you may save them $700-$1,000 per month.
Even if they cannot afford a retirement retreat in Florida, the (grand)parents could fly outside the US and live cheaply (on $1,000 per person, $1,500 for 2 persons) in other sunny countries abroad. They could thus live on $1,100 per month of retirement benefits, meanwhile they could rent out their home to family, giving them an additional $800+ per month of income while they can keep the appreciating house as an investment that they don’t have to sell (they only rent out). Also, abroad you don’t need health insurance, going to a hospital costs several hundred dollars, surgery, several thousands, not tens of thousands like in the States.
