This story was originally published here.
Three reasons why downsizing is a bad idea:
- Your house is not worth what you think it is
- Popular retirement destinations tend to have higher property taxes
- You’re likely out of touch with how much a new home costs
These are some of the arguments against downsizing.
What about the benefits?
The pros to downsizing are hard to ignore. Otherwise, four in 10 Americans wouldn’t be considering downsizing after retiring.
But the most obvious benefit is saving money.
If you downsize, you’ll likely cut your monthly housing expenses by 25 percent.
Assuming you profit from the sale of your current home, you should also be able to add a little cushion to your retirement nest egg.
But we think you shouldn’t have to choose between aging in place vs. downsizing.
Instead, what if you could get the benefits of downsizing without having to move?
Aside from the drawbacks mentioned above, a big reason not to move is simply because you like the house you’re living in now.
Moving to a whole new city, where you have new neighbors and you’re far away from friends and family is not ideal.
But some retirees have no choice. Downsizing is framed as the only option to make up for a small nest egg.
But is that true?
Editor's Note: Click here to keep reading.
Start With $100 And Retire Rich?
Over the past decade, Tim Sykes' stock trading teachings have helped followers of his blog with their financial goals…
And in rare cases, some have even become millionaires WITHOUT starting with much at all.
That's why Tim is now offering this full book AND a year of access to his stock trading wisdom…for only $20.
Yes, only $20…because Tim knows that every $100 you keep could turn into $500 or even $1,000 down the road…
IF you read this book and take the right steps.
Click here now to see this dirt cheap offer.