Downsizing Archive

Retirement Debt – Sinking Boomers’ Dreams

Retirement debt is the problem that boomers didn’t think they’d have… Sherry* should be retired. She has nearly paid off her 3 family home in a desirable metro area. She has saved over $500,000 in her retirement accounts. And she can count on a social security check, 2 rental incomes and income from her retirement account. But …

A Whole New Paradigm When Choosing Where to Live

One issue I’ve been tossing around my head the past few months is the question of where is the ideal place to live in the USA? And before you think this is another “downsizing’ article (which I am prone to do!), this topic is more important for YOUNGER people as the decide where to build a …

Don’t Want the Burden of a Big House? Get a Smaller One!

With the increasing cost of living and endless move higher in home prices, many people are choosing alternative paths to financial peace. One idea that is slowly spreading throughout the US is the move toward smaller homes. Nina Glinkski wrote an article in Bloomberg recently highlighting this idea and she featured some examples of people …

Homeless (by choice!) in Retirement

Oftentimes, it’s young people who talk about “taking a few years off” after college (or even before or in between college) to discover the world – and perhaps even “find themselves.” But it’s a whole different story when someone over 60 does this. It’s a different story and an excellent lesson. A few months ago …

Attention Gen Y – Grandma Wants Your Pad

Is there competition between gen Y and baby boomers? Much has been written about generation Y wanting to live in the city – with important factors being a diverse variety of things to do, good public transportation, the latest amenities in their residence and in their building (like a gym). Many articles and reports have …

Why Rising Rates Will Eat Your Home Value

credit myself with the front photo🙂 from Bloomberg: Rob Braunstein said his search for a three-bedroom home on a quiet street in Needham,Massachusetts, is taking on more urgency as he watches mortgage rates tick higher. Every increase, he worries, shrinks his budget by boosting monthly payments, he said. That says everything you need to know about the …

Downsizing Across State Lines

Reflections on an article from IBD I read last week… The number of retirees moving to Florida has decreased over the past 20 years according to Richard Johnson of The Urban Institute. According to Johnson, 1/4 retirees age 55-65 moved to Florida from out of state. That number dropped to 1/7 by 2010. Question: Is Florida …

Visiting an Assisted Living Facility

Today I dropped by to visit my friend John DeCecca and see The Herrick House – an assisted living community that is  on the campus of Beverly (MA) Hospital and now part of Lahey Health. Herrick House is relatively new construction (1994) and offers the typical amenities found in assisted living communities (they also have …

Are You Counting on Your Home Equity to Retire?

cover photo courtesy of 401(k) 2013 on Flickr A recent survey by financial planning behemoth Amerprise (reported by NY Times) revealed that nearly half of older working Americans expect to count on their home equity to help with retirement. This result is up sharply from the 37% who expected to use home equity before the recession. …