You might have to move, but not because you want to
As much as we all love our homes, sometimes you may have to consider moving even if it’s not really the ideal thing. This can be both because a new place can make your savings last longer and you can live more comfortably, but also because it could lessen the stress and worry about not being able to retire comfortably.
If you have extra funds to move somewhere else and buy property, you can rent your old home and get some extra income from that, or you can just think of this move as a great chance to be closer to grandkids, go to a better climate for you, or just get to enjoy a community with more senior members.
There are a lot of reasons why you could want to move, so if retirement is worrying you too much, look into this opportunity! And since we’re at it, I feel we might need some extra help. There’s this book written by Ryan Frederick called “Right Place, Right Time” and it is focused on the intersection of place and healthy aging.
Read all about how you can save money for your retirement fund today here!
3 Responses
A lot of truths were spot on. Disappointed to see that there was no mention of Medicare Advantage Plans available from numerous major insurance companies that will pay a lot more than straight Original Medicare. Copay’s are modest and mostly all costs are fully paid when you hit the maximum out of pocket level. There is also the Gap coverage option. This is important info that should have been included.
My spouse and I waited until age 70 to start collecting social security which has made a big difference for our long term plans. The 8% increase per year for the four years after our age 66 regular retirement age gives us 32% more.
We have a moderate LTC plan which has a reasonable rate which will help IF we need it later in life.
This article does not address the federal taxes you will have to pay on those benefits based on ridiculous levels of income that have not been adjusted for years.