Canuck, I reviewed the 2 posts regarding owning rental property, and since I don't have any myself, so no first hand experience I cannot add to their comments. I'm closing in on retirement age myself and have been pondering the income replacement issue too. Looking at achieving a reasonable amount of income without selling the underlying position, I'm targeting dividend paying stocks. Given 100K or so to invest, I am not putting all my $$ in one stock, but rather have it spread it across a range of holdings. Some common REITs, some industrials, some utilities and some in zero coupon treasuries. The treasuries of course are 1 time things. Maturity = cash. The REITs and other traditional stocks just keep generating dividend income. Currently, all dividends are reinvested. Upon retirement, I will select which holdings will continue to reinvest and which will pay out and this can be fine tuned as needed. I guess it all depends on how much income you are attempting to achieve from investments versus any other income source you may have (pension, SS, etc.).
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