“Our life is frittered away by detail. Simplify, simplify, simplify!” —Thoreau
Over time, many of us have accumulated things we rarely, if ever, use. When we finally wise up, we come to see that all that stuff—along with the house in which it’s been collecting dust—no longer makes sense. Many experts are recommending that retirees sell their homes and rent instead. Typically, this makes it easier to:
• Gain access to equity. The money from the sale of your home can be reinvested, used for travel, or whatever you decide. How might that extra cash help you retire more comfortably?
• Go where you want, when you want. Owning a home can tie you down. Renting gives you more freedom to travel, move around, and see your children and grandchildren more often.
• Get rid of stuff you don’t need. You’ll feel lighter, and not burden your family with dealing with it all when the time comes. As they say, what you own can end up owning you.
• Eliminate the headaches of homeownership. When you rent, and something breaks, you just call the landlord or property manager. Need a new roof? Not your problem.
• Customize your surroundings. Reducing your square footage means less to clean. No more stairs? Your joints will thank you. Live closer to stores, mountains—whatever you choose.
In retirement, you may want to downsize your lifestyle, but don’t do it to your insurance coverage. These are the years you need coverage the most. Your association membership may entitle you to a free benefits review with a skilled AMBA agent. Schedule yours today.
And, as Thoreau urges, “live the life you’ve imagined.”
SOURCES:
https://www.moneytalksnews.com/slideshows/7-reasons-you-should-rent-a-home-in-retirement/?all
