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The freedom of retirement certainly comes with its perks, but challenges of post-work living exist as well. Chief among them, for most elderly 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. 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 AN OPPORTUNITY FOR EASY MONEY AND SOCIAL ENGAGEMENT WHY SENIORS ARE FLOCKING TO HOME- SHARING PLATFORMS
The ladies are still decorating the office by hanging wall art, the Edward’s 2018 & 2019 Real Estate Attorney plaques, and our core values. Stop by to see the changes. In April, Edward spoke at the 73rd Annual Lincoln Douglass Banquet in Weirton, West Virginia. He spoke about finding success in the struggle and how struggle is an intricate part of success. If you’re interested in hearing the speech, feel free to reach out to us and we’ll send you the audio recording. Edward’s been thinking of ideas to celebrate his third wedding anniversary with Kellee. It’s hard to believe that it has been three years already. But it shouldn’t be too surprising since Kyzlee will be turning 2 in July. Where’s Jeff? He’s been working on some new content for the Real Estate Investor’s Kit for Landlords & Property Managers! Edward’s dad’s quote: “Outrun, outjump, outwork the competition. Be the best because the cream always rises to the top!” Jeff’s dad’s quote: “Get an education, because nobody can ever take it away from you!” Father’s Day Tribute
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. 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! Best of all, running a modestly successful Airbnb usually doesn’t take much work. It
LOCAL BUSINESS SPOTLIGHT
FIRST NATIONAL BANK
This business has the triple threat of three powerful women in banking: Melanie Wilharm, who handles commercial loans; Joan Baird, who handles home equity lines of credit; and Alicia Lazic, who handles home mortgages. Whether you’re going for business,
buying your first home, or thinking about using the equity in your home, it’s important to find a bank that’s willing to work with you to accomplish your goals. First National Bank has your back! You can reach them at 740-264-8918.
This newsletter is for informational purposes only and no legal advice is intended. Be sure to consult with this law firm if you have a specific question about your situation. And remember Edward and Jeff don’t take any unplanned inbound telephone or in-person meetings, we believe that each case deserves our undivided attention.
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