Baby Boomers and Down Sizing ... what are we thinking ...

Being a baby boomer myself, my thoughts are looking ahead to retirement and what to do.  Many of us have been blessed with a wonderful lifestyle, living in lovely homes where we raised our children and now entertain them and their families.  But do we really need this big house even though we still love living in it?  We are used to the spacious rooms, proximity to what is familiar and the lifestyle.  Unfortunately, any monies we have saved for retirement just aren't performing well in the market and with interest rates so low, once we make the decision to retire, then we have to start spending that money.  Not all of us are blessed with awesome pension plans.  Many of us only have our RRSP's and investments.  With the hope that we will live another 20 years or so, will we be broke by that time?  In the 1970's and 1980's, retirees' money earned lots of money with the higher interest rates.  Many of those people enjoyed a good income just off the interest ... today that is not the case.  So our homes, if paid for, become the source of the extra money needed to supplement our retirement.  This whole process takes much thought and speaking to a Realtor with knowledge of this trend would be beneficial before making this huge decision.  We can put you in touch with financial planners if none are involved at this time and much more information to help.  Information is the key to making any decision and you do not have to do it alone.  This is another way Realtors help.

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Wanda MacInnes

Wanda MacInnes

CENTURY 21 Trident Realty Ltd.
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