Downsize or Rent in Retirement? 5 Key Decisions You Should Consider (Ep. 60)
What’s the right housing move in retirement?
Sell and rent, or stay put and downsize?
In this episode, I unpack five key decisions that go far beyond dollars and cents, inspired by a real conversation with a client. Whether you’re widowed, single, or simply evaluating your next step, this breakdown helps you consider every angle, both financial and emotional.
Key points:
- How renting can offer convenience, but comes with rising costs and less control over long-term financial outcomes
- The critical role of home equity and the potential strategies to access it, including reverse mortgages
- Tax implications for widows and single retirees when selling a home, including the impact on capital gains
- The importance of lifestyle considerations, like proximity to social hubs or family, when making housing choices
- How emotional attachment to a home can often outweigh financial logic, and how to strike a balance between the two
- And more!
Resources:
- Get Your FREE Simply Retirement Roadmap
- #8 – Unlocking Your Home’s Potential with a Reverse Mortgage
- #10 – Do I Have to Use a Realtor to Sell My Home?
- #26 – Navigating the Solo Aging Journey
Connect with Eric Blake:
- www.TheSimplyRetirementPodcast.com
- Join the Simply Retirement Newsletter
- Ask a Question or Suggest a Topic for the Podcast
- Blake Wealth Management
- YouTube
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