Housing
Housing is one of the major costs in retirement, if not the biggest one. Luckily, there are also many smart ways to cut your monthly housing bills. One way would be to pay off your mortgage and leave nothing else but the cost of taxes, insurance and maintenance. This way you do away with a major monthly expense and get to focus on the smaller ones.
Another way to reduce your housing bills is to downsize to a place with considerably lower costs and unlock your home equity to add to your nest egg. A smaller home incurs fewer costs for heating, cooling, maintenance and taxes.
