Rental property as a retirement supplement

[John Irvin]

I am 50 years old and have decided to get into rentals to supplement my income and possibly retire at 60 (any earlier would be icing on the cake).

Is anybody else in a similar situation?

Curious about strategies that others in my situation with similar goals are utilizing to get there?

[Cory S.]

Another 1970 baby! 

Just turned 50 myself at the end of July and my rental properties' income should allow me to have some wiggle room to semi retire when I turn 53 in 2023.

My pension will be between $3,000 - $3,200 a month for my life time and my wife's life time. Our residential property ($250K property) will be paid off as well in 2023.

Looking to have a nice round number of 10 rental properties in my portfolio, cash flowing at least $5,000 to supplement my pension that will take a hit from inflation. 

Right now I'm at house #5 with plans for house #6 in July.

I'll probably never fully retire, but work at least part time. 

Good luck to you and your journey sir!