20 Amazing Things Retirees Should Do With Their Money

Buy Rental Properties

In addition to — or instead of — paying off your mortgage, investing in real estate can be a good move for retirees. If you buy rental properties, you can generate passive income every year from your renters. Additionally, the value of the property you buy might grow in value as well.

Another option is to invest in transforming one of the rooms of your existing house into an Airbnb or other rental property, thereby generating income on an asset you already own.