7 Reasons to Downsize in Retirement

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Some people may want to think about how to get here and there without a car. The up-front cost, the required insurance premium and the on-going maintenance may mean 400 to 500 dollars a month, or about 5000 to 6000 dlollars a year. This saving can mean a long dream vacation for two people every year. Of course, this is just an estimate. You need to pay for bus fairs and train tickets too, not to mention that you may need to call a taxi once a while when the mass transportation mode is not fast enough for your needs.

Choy Vong of WA 6:30PM January 15, 2012

I just downsized to a 2 bd 2 ba single level 1411 sq ft condo in Sun City. Total expenses for HOA, recreation, property tax and utilities except electric is $232 a month. Cost was $47K. Fabulous!! Couldn't be happier.

Cliff of AZ 3:28PM September 12, 2011

Arlington, Texas the #1 city to downsize? Did the authors ever visit this miasma? Temperatures in excess of 100 F, little rain, and most of the landscape is devoted to concrete. Walkability scores are nonexistent. Not to mention the preponderance of red-necks and the observation that Arlington is in Texas. There is a reason why housing costs are minimal - it is a crappy place to live.

Tom of TX 1:39PM June 23, 2011

We live mainly on our s.s.I was told by a state agency that our home and car(paid for) is what we can keep if one of us needs LTC.To sell and free-up the investment of a home adds to our money-on-hand and goes against all the tax incentives we have in our state. It stresses me to try and figure what the right thing is to do. My husband has starting dementia so All decisions and his care are up to me. we had alot of the major projects done, but i had to deal with everything ( contractors ect). not all pleasant!! We had to with-draw from our 401k and now it shows as income against our homestead exemption,So there goes out tax savings!! We don't have a big 401k and now are in the time of our lives that we need to decide whether to rent or own. My daughter thinks that staying in our home cheaper for us then renting. we can't pay high service calls all the time, and there's always something it seems.

sharon sable of NE 1:22PM January 19, 2011

Talk about cheap. Just gotta look around on your own. Forget realtors. Tax sales etc.Everybodys leaving. No jobs. Hello..Got a check coming in your set. Free workouts. Choppin wood to keep warm...No gym fees..To cold out all winter to do anything cept drink anti freeze..What am i doing here???

nijen mwnuy@yahoo of MI 9:09AM January 04, 2011

Why tie up all of your retirement money in owning a home? Why not just rent and save your money. Move to Grand Haven or Ferrysburg, Michian. It's real cheap living and the rentals nice.

Burke Minns of MI 3:03PM November 22, 2010

What are you talking about?There's nothing here about politics.

sss of GA 9:59AM August 15, 2010

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lakeweirliving of FL 8:01PM July 26, 2010

I remain unconvinced that you can live more cheaply by selling your paid-for home and moving into a retirement facility. The prices I have seen quoted seem to be VERY high. I am inclined to believe that I can stay in my home, have someone come and do the yard work, and even hire some house cleaning and still be money ahead. Retirement facilities seem like a big rip off. Seems like everyone is out to bleed every last dime out of the retirees.

Bonnie Grandstaff of OR 5:56PM April 25, 2010

I thought this was an article about retirement tips--does anyone have anything to add about that? Really sick of every discussion leading to a political statement rather than the subject at hand. I'll look elsewhere for real opinions on retirement.

Ann of Ill of IL 11:59AM April 25, 2010