Downsize Before You Retire
By now you probably know that downsizing is becoming a significant part of any senior’s retirement plan. Selling a big home in order to move into a much smaller space will give you a significant boost, financially. But moving houses isn’t exactly easy, especially if you’re moving quite far away, such as in a different state or even a different country!
But making this smart move before you retire may be the smartest choice you make. It’ll be significantly easier for you to do it, plus you’ll still have your income to fall back on IF there are any hurdles along the way- there shouldn’t be, with careful planning, but you never know.
Making the right choice when it comes to downsizing will offer you three benefits. First, you’ll gain a lot of money to set aside from the sale. Secondly, your property taxes and insurance costs will drop. Finally, if you donate some of your furniture that simply won’t fit in your new home, you’ll also get a charitable tax deduction!
