hi there My dilemma as a retiree: how to best utilize what we have (home and cash) to make us some more money to live on? I'm 75 and married 51yrs to a beautiful 74yo sweetheart. our health is ok for now but we would like to downsize from our home. Ideally avoid nursing home/over 55s places like the plague! But a small home on level land would be good. We live in Wollongong. Assets and Income: 1. we fully own and live in our own 2-storey four bed home (val 550k). 2. we have 300k cash investments and they are only earning 1.5% interest! It's terrible. 3. We have more in long term funds earning 4.5%, maturing 2020. 4. We get the full pension and it's based on our assets. IDEAS SO FAR... 1. One idea is to buy a 300k unit to live in (pay it outright) and rent out our home and the rent would be about 500$ per week. 2. Or spend 30k to turn our home into two dwellings and aim for $400 + $250 per week. I'm handy and could instal a kitchen and shower downstairs. 3. Or also spend $x to build a shipping container granny flat in backyard and rent out all three if possible. Not sure on the law. Tax deductibility irrelevant - not working. All ideas welcome; we are really sweating because we are currently only earning $4500 IN A WHOLE YEAR OUT OF $300,000 invested! We were badly burnt by theGFC so we are not doing stock market. Thanks in advance.