Downsizing for retirement is a common practise performed by many pensioners. After retirement, every older person looks forward to living their golden years comfortably with minimal financial stress and assured safety. It is a fresh start which calls for a lot of adjustments, especially with regards to finance, health and your safety. This year, the state pension is set to rise in April, so many pensioners will be afforded a few extra luxuries they might not have previously been able to afford. In spite of this, it’s still important to make sure you’re on top of your savings, and not being excessive where possible.
This would mean having better management of savings, pensions, and benefits, cutting down on bills and having a reliable safety response back-up for emergencies – especially when you’re living alone.
Retirement is a time to focus on one’s priorities, only making room for necessary matters. Retirees, in most cases, have family members or kids who are away from home, either working, in school or raising families of their own. While downsizing for your retirement to a smaller home is often the first step, security has to be heightened. Alarm systems become indispensable, in case of burglaries or accidents within the home.
Downsizing is often the preferred way to kickstart retirement. 64% of retirees downsize from their homes to smaller, mortgage-free houses. The quicker you sell your house and unnecessary possessions, the better – before their value depreciates.
When it comes to selling any property no longer needed, learning hacks for selling your house quickly might come in handy. Such hacks get you more value for your property and in good time too!
The Emotional Rollercoaster
Downsizing means dropping your lifestyle and choosing another. You might just have to physically move from your neighbourhood and your former life. It triggers a variety of emotions from excitement to stress. It is a disruptive process. Getting rid of possessions accumulated over a lifetime is never easy.
At this point you realise how attached you are to some of the stuff and the many memories they bring with them. The thought of letting them go could mean a few tears.
The better part then comes later. You begin feeling lighter and more alive than before. You also end up with very little to worry about. It is an act of sacrificing something dear today for something you need tomorrow.. for the greater good.
So the sooner you get over with it, the better for you socially, physically and even more so financially.
The Pay Off in Downsizing
There is a lot more to downsizing than the physical change itself. It is an opportunity to look back at your life and where you are heading. It is at this point that you get that golden chance to determine the next chapter of your life.
To many, it is a liberal opportunity to create a new life all over. The most important bit is the opportunity to boost your retirement finances. With tips on how to rip big benefits when downsizing, you will comfortably enjoy your golden years in a truly golden way.
One good idea would be create your very own bucket list – to help you to decide what to spend your money on now that you’re retired.
Rip Big Financially
Knowing the actual market value for a lot of the stuff you own can be hard. You might want to acquire the services of the various residential appraisal companies near you. Once you get the amount your home and property will fetch you, weigh it against the cost of settling in a smaller house. It will often leave you a substantial amount that you could invest. To get more, you could upgrade your residence through repairs and repainting.
Downsizing for your retirement is an overall new adventure. It has been the best option for many retirees. It is best if done in no hurry and after having weighed all options. While it might seem hard and a downgrade, downsizing upon retirement has more positives than negatives.
Personal Alarm Information
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