Campbell Wealth Management June 2019

Why Seniors Are Flocking to Home-Sharing Platforms

AN OPPORTUNITY FOR EASY MONEY AND SOCIAL ENGAGEMENT

The freedom of retirement certainly comes with its perks, but challenges of post-work living exist as well. Chief among them, for most elderly

But home-sharing can do more than boost your income. By opening a room in your home to travelers, you’ll encounter all kinds of people you might never otherwise meet, prompting dynamic social interactions and meaningful connections. The rating systems on Airbnb and similar platforms almost entirely prevent would-be troublemakers from entering your property, and users report that when a rare negative experience does occur, the company typically has your back. It’s a great way to stay socially engaged while staving off loneliness. Best of all, running a modestly successful Airbnb usually doesn’t take much work. It simply requires you to set up a neat, welcoming space, keep in contact with your guests, and ensure the check-in and check-out processes are as straightforward as possible. In fact, senior hosts seem to have a leg up on their younger counterparts, as elderly hosts earn the most consistently positive ratings across the globe. Airbnb and The Freebird Club won’t make you rich, but they’re relatively low effort enterprises that come with some massive benefits. If you’re looking for a little busywork, some extra cash, and a little social interaction in your retirement, hosting may be your best bet! Upcoming Events

folks, are fears of social isolation and financial insolvency, as having coworkers and a regular income are not as

common in retirement. Perhaps this is why so many retirees are flocking to home-sharing platforms like Airbnb or its seniors-only cousin, The Freebird Club. Airbnb reported last year that the 60-plus age bracket is its fastest- growing demographic worldwide, with the number of senior hosts as much as doubling every year. Home-sharing platforms can be a tremendous boon to a tight retirement budget. It’s an especially attractive option to elderly folks who find themselves rich in assets but struggling with liquid finances. Home-sharing allows them to tap into these resources. According to Priceonomics, U.S. Airbnb hosts bring in a monthly average of $924.

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Your Retirement & Taxes Ernst Community Center at NOVA, Annandale Campus June 5, 6:30 p.m. or June 11, 1 p.m.

The passing of my dad set me on the path to where I am today. Education became my priority. I learned and prepared for the future, from establishing my own financial firm to helping others plan for their futures and that of their families. Since that day in 1981, the planning process has come to mean so much to me. That’s why we take our clients through it and the reason we do it again and again, as needed. You don’t just plan once because things are always inmotion, and you must take charge. Financial planning and advice helps you make better decisions and avoid life’s obstacles. It gives you what you need should the unexpected happen. And as we all know, the unexpected happens every single day. If you have any questions or concerns about your financial plan, we’re always here to answer them and to help. We’ll talk it through and help you figure out your plan for what’s yet to come—expected and unexpected.

567 Taxes in Retirement Centerville Regional Library June 12, 1:30 p.m. or 6:30 p.m. Critical Considerations in Your 60s, 70s, and 80s Greenspring Retirement Community June 20, 1 p.m.

Kelly Campbell

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