Is Selling Your Home: A Smart Decision for Retirement? Jan 7th

For many people, owning a mortgage-free home in retirement can be a financially smart decision, as it allows them to keep their expenses low by only having to worry about property taxes, maintenance, utilities, and insurance. However, if your home is particularly valuable or no longer fits your needs in retirement, it may be worth considering cashing in on your housing market luck and using the investment returns to rent a place that better suits your retirement plans. Whether or not this is the right decision for you will depend on a variety of factors, including the amount you could get for selling your home, the housing expenses you would be freeing yourself of, the amount you would spend on rent, and your comfort level with managing an investment portfolio.
Is selling your home and renting in retirement the key to maximizing your financial security? We explore the pros and cons to help you decide.
To help you determine whether selling your home and renting in retirement is a good idea, it may be helpful to go through an example and consider all of the different pieces…