Retire Me - Episode 14 - Downsizing - Pros, Cons, and Considerations

Welcome to Episode 14 of Retire Me!

On the show today, we talk about downsizing in retirement - selling your home approaching retirement and moving to a smaller place and potentially unlock some equity in your home to use to bolster your retirement income plan. 

On the show we discuss:

• The factors that cause retirees to consider downsizing at retirement
• The financial benefits of downsizing
• How to estimate how much a downsizing will increase your lifestyle consumption in retirement
• The downsides and risks of downsizing
• Costs to factor in when considering a downsizing
• A set of steps that you can take if you are considering a downsizing at retirement to make sure that it is worthwhile

Resources used in this episode:

https://www.moneysense.ca/columns/ask-moneysense/downsize-home-invest-proceeds-for-retirement/

https://www.moneysense.ca/columns/ask-a-planner/should-you-rent-or-own-a-house-in-retirement/

Thanks for listening!

Mark

The information in this material is not intended as investment, tax, or legal advice.  Please consult your advisor or tax professionals.