When done correctly, downsizing can be a good idea. You might not only walk away with more money, but you may also simplify your life and reduce your home-maintenance and utility costs for years to come. To reach that happy outcome, you need to steer around the unexpected pitfalls that make downsizing problematic.
Downsizing and Budget Management
For many people, their strategy for funding their retirement is to sell their current home, buy a smaller place, and invest the difference for income. However, they often reap far less profit than they might have hoped.
Our Downsizing and Budgeting program helps keep things in perspective. We focus on things that you should avoid, and others that you might want to pursue. We take an honest look at tax implications, moving costs, relocation fees, and many other issues that you should consider before youn decide to downsize. Talk to your investment manager to learn more.