13. Take Advantage of the Tax Benefits That Come With Homeownership
Homeownership is something all Americans dream of as soon as they reach adulthood. Why not elevate that during your retirement?
Whether you’re planning on settling down elsewhere or not, make sure to research what discounts and tax benefits are available to you regarding estate taxes. You might be surprised to find that most states and municipalities offer reduced tax rates or tax credits if you’re over the age of 65.
Some seniors who don’t like the idea of downsizing can definitely go this route in order to save more money. But, of course, it all depends on your income, that’s why applying the previously mentioned steps is also important, since the benefits can transfer over into more benefits.
