How To Start A Group Home For Retirement Income?

So you are getting ready to retire but still want to work and make some income on the side? Sounds like a great plan. The only problem is, where do you go when you want to make some retirement income, want to work for yourself and you don’t want a full time job? This is the question that thousands and thousands are trying to answer.

The great thing is that there are literally millions of people that need you right now! Those people are folks with disabilities that need you to help them with housing and related services. Interested in learning how you can work 5-10 hours per week and make an extra $45,000 per year? Well, its time that you read up on starting a group home for retirement income….income that is relatively passive and continues coming in month in and month out.

Does it take some education?  Yes

Does it take some work to get set up? Yes

Will it require a little bit of money to start up? Yes

BUT, the rewards are tremendous. In fact, if you are looking for a way to supplement your retirement income, starting a group home may just be one of the best things you could possibly do. Here is why:

  • Currently, there are over 54 MILLION people living with disabilities that need a place to live and a person to help them out.
  • The Obama administration has created the Community Living Initiative (CLI) to promote federal partnerships that advance the directive of the olmstead decision.
  • There are literally millions and millions of people and hundreds of millions of dollars in grant money and other federal funds that has been set aside to allow YOU to generate income helping people out that need it most……

That leaves you in a wonderful position. You now have the ability to generate retirement income simply

By providing group homes for those who need it most. So what do you need to do to get started? First, you can simply determine how much of an impact you want to have on your local community. Are you interested in helping out 5- 10 people per month or are you interested in helping out 20 – 30 people per month? Take into consideration that the more people you help, the more you make.

How Much Can I Make In Retirement Income With Group Homes?

This is a great question and it really can run the from as little as a few thousand per month to hundreds of thousands per month. It really depends on the type of people you want to provide services for as well as how many of them you want to help. To get started, we typically recommend starting a simple group home for the less fortunate out there. At a simple $600 per month per client and 8 clients to a home, you will have income of roughly $4,800 per month and expenses of roughly $1,000 per month. Would an additional $3,800 per month be a nice supplement for your retirement income? Most people that are working 5-10 hours per week would be extremely grateful to have an additional $45,600 to live on each year.  But remember, this is just one option. There are other ways to generate far more on a monthly basis depending on the type of clients and the number of clients you are willing to serve.

Looking for more information on how to start a group home and receive funding for being a caregiver for the disabled? Look no further. If you are looking for additional information on how to start a group home, halfway home, transitional living home, sober home, foster home, ICF/MR home, DADS Home or other type of care home for people with disabilities; check out our free course on starting your very own income-generating group home by going to and clicking on the free wealth building course.