MONEY MANAGEMENT

4 Downsizing Mistakes That Will Cost You | RuralMoney.com

Downsizing

Assuming That Smaller Means Cheaper Downsizing is sure to make your life easier in retirement; and you’ll have smaller bills, a smaller yard, and less to worry about home maintenance. Or will you? Downsizing can simplify life in retirement, but it’s not always a guarantee. If you want to downsize successfully, these are the top mistakes you need to avoid. Selling your sprawling country estate, buying a condo in the city, and pocketing a few grand for your nest egg sounds like the perfect way to launch your retirement. Unfortunately, that dream may crash and burn when you see what those downtown condos cost. For seniors moving from rural to urban areas, downsizing a home can actually upsize their costs. Before you change your mind about downsizing, remember two things. First, you don’t have to move into a big city to enjoy convenient retirement living. A tight-knit small town is…

Continue reading...