Large Houses Complicate Retirement
Updated: Mar 25, 2020
Chris Worby a Trusted Regina Financial Advisor talks about retiring with a large house.
We work hard and do our best to get to a point where we can get the things we want and they end up being harder to deal with than we think.
This is a crucial issue for anyone looking ahead to retirement. The more expensive your home, the more of a drain it’ll likely be in terms of property taxes, maintenance, homeowners insurance and more.
It may even be worth considering a more modest house at all times because they certainly do cost a lot!
– Try to keep your fixed costs (Mortgage payments, utilities, groceries, etc) down to 50% of net income.
– An $800,000 house is likely to cost around $2,000,000. Many of us think of a house as an investment but often it turns out to be a money pit.
If you are considering downsizing or how to best leverage your home for retirement I can lend you a hand with personal, individual advice.
Chris Worby is a Trusted Regina based financial advisor and Wealth Management services provider servicing local Regina households and businesses. Since 2001, Chris has been committed to providing a high standard of financial service to individuals, families and business owners. Chris listens and provides a personalized financial plan.