Empty Nester: Living Simply, Simply Living Well
Downsizing: How to Sell the Place You Call Home
According to AARP, for the next 18 years, baby boomers will be turning 65 at a rate of about 8,000 a day. This means that a large portion of American homeowners will be reaching retirement age and will have to start thinking about the next phase in their life. Part of this next phase may include packing up their large family homes in favor of spending their ‘empty nest’ years enjoying a newfound freedom. When you think about the combination of approaching retirement and your children are off on their own, it may not be necessary to keep so much space. Many couples may have a disproportionate amount of their wealth stored in home equity. Downsizing can be a useful way to convert some of this wealth into liquid financial assets to be used for other expenses. Downsizing can also provide the opportunity to sort through belongings and get rid of things that are no longer needed. Are you ready to make the move?