For some questions, there will always be at least two sides to consider. When it comes to retirement and that fateful step into the golden days of life, there are many questions to ask, plans to make, and decisions to decide.
Even if you have yet to confront this fundamental retirement question, you ought to consult a recent article in The Wall Street Journal titled “When Should Retirees Downsize Homes?”
The Journal asks, “when” not “if,” but that does not mean there is not another side of the story. Enter the DailyFinance with an article providing yet additional reasons to stay put.
In fact, that article is aptly titled “7 Reasons Not to Move in Retirement.”
While you will want to read both articles, here are the seven reasons to stay:
1. Save Money
2. Services You Like
3. A Social Network
4. Proximity to Family
6. An Advance Plan for Your Later Years
7. You Like It
What place does your home occupy in your life and in the lives of your loved ones? To some families a house is an asset, to others it is a home, and to others it is an anchor (whether wanted or not).
Whether you are planning for retirement or already in retirement, there is much at stake and the home can be a divisive issue in Overland Park and elsewhere.
So, again, what is the house to you and yours? How are you planning for it?
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri) and to download free tools to help you organize your estate, visit my estate planning website.
Reference: The Wall Street Journal (January 25, 2014) “When Should Retirees Downsize Homes?”
DailyFinance (January 22, 2014) “7 Reasons Not to Move in Retirement”