Many Baby Boomers Now Looking At Selling Their Family Home To Create Retirement Income…
Work is done, the kids have grown and have lives of their own, everyday life pressures have drastically decreased….it’s Retirement time! What does that mean? Hopefully it means time to relax, time to travel, the opportunity to spoil those grandkids, and the time to enjoy life. To many this is true, however if your retirement income does not allow you to follow this dream, life may look a lot different.
Thousands of seniors do not have sufficient funds to live life as they would like. Instead their days are spent worrying about how they are going to survive when their nest egg runs out.
As baby boomers are reaching or drawing near retirement age, they are asking many questions and searching for answers. Many are contemplating selling the family home to help towards retirement planning. Prices and demand do not favour the seller in most cases at the current time, but there could be an opportunity to add some funds to your retirement income if you downsize.
Yet others are looking at renting out rooms and taking out reverse mortgages on their homes. Many are facing their future with a great deal of uncertainty and this is not a great way to feel for sure.
Len Davis, a retirement planner in Saint John NB who focuses on your retirement income, life insurance, estate planning and further financial aspects, says there are strategies that can help you maximize your retirement income. Even if you haven’t planned as well as you should have in your younger years, or if you have already retired, there are options you should look into to protect your funds. Len Davis has been a financial planner for over 20 years and has helped countless people from Nova Scotia, New Brunswick, PEI and Ontario with their retirement planning.
If your retirement income is a concern for you, take some time to look into your options. Take a look online at a retirement income calculator to give you some idea of what you should be saving. Finally, talk to a financial planner such as Len Davis who can guide you on the right path for your retirement income decisions.