A snapshot of a typical “before and after” transition to a retirement home simplifies the key points about this major life-change. Before the move, the equity in your home is tied up in the home and is not considered liquid. Unless there is a Home Equity Line of Credit or a reverse mortgage on the home, the equity is fully intact. This maximizes the funds available for downsizing to a retirement home. Let’s look under the covers a little more.
One of the most important considerations when reviewing Retirement Home living is the cost. This is not surprising since the monthly fees can be significant. There are many types of costs associated with this lifestyle including fixed, fixed-optional and variable-optional costs. This post explains what to expect when touring a potential retirement home and provides a free, downloadable spreadsheet as a template for your own use.
Home-owners who downsize have five choices for the proceeds they receive from the sale of their home. They may choose a combination of all five or only two to three. Very rarely will they choose only one. Here’s a breakdown of the five along with some thoughts on the one that will be very common throughout this decade.
Continue reading “Retire – Downsize – Cash Out”
A blog is a natural outlet for those who have bottled up stories, opinions and memories to be released when retiring. A busy working or family life can cause one to stuff a lot of content into the background for a future date. If you are looking to channel your thoughts into creative writing, blogging might be for you. Here are some ideas on how to get started.
Continue reading “Retire – Downsize – Write/Blog”
Author James Wallman takes readers beyond the typical “how to declutter” approach in handling our stuff and our life to something deeper and more life-changing. This post includes a short video of Wallman along with his suggestion on how to increase our happiness while downsizing our stuff and lifestyle.