Came across this great piece in the Globe and Mail that talks about a couple who became landlords after keeping the previous residences they had prior to moving in with one another. Robert and Tara are an older couple, and had a financial advisor from RBC assess their goals and how their existing assets – namely two rental properties – fit into the equation taking into consideration a chronic illness that Robert has, a recent job change for Tara, as well as a lifestyle that the two enjoy and want to maintain as much as possible while they to retirement. Besides the challenges associated with property management, the piece explains that the properties are barely breaking even, and that the eventual rise in interest rates leave the couple exposed to having their retirement plans altered.
Check out the piece in it’s entirety here: http://www.theglobeandmail.com/globe-investor/personal-finance/retirement-rrsps/as-income-falls-landlords-rethink-retirement-strategy/article6968522/
