Should I buy another home at $250,000,00 and rent out my current home for $1200 per month?
I'll be 62 this year and receiving my pension of $1500 per month due to being retired after my job closed down. I'm now working out of my home doing child care, making between $480-$560 per mo. I have an IRA at $87,148.00 and my 1st mortgage is $67,000.00 at $470 per mo & I also have a $31,000.00 annuity with another company. Also regular savings from another bank at about $250.00 and I plan to apply for my SS at age 62, at another $800-1500 per mo..