Should You Downsize in Retirement (EP 42)

Learn more about the Fundamental Retirement Plan: https://www.fundamentalwealth.ca/get-startedDownsizing in retirement can create more freedom, simplify your lifestyle, and unlock additional retirement income, but it also comes with emotional and financial considerations that should not be overlooked.In this episode of Retiring Canada, we discuss the key factors retirees should consider before downsizing their home.You will learn how downsizing can impact your retirement income plan, the tax considerations around selling a property, and the hidden costs that often come with moving. We also cover important lifestyle questions such as location, future mobility needs, maintenance, hosting family, and whether renting may actually make more sense than owning in certain situations.We also walk through real world examples of retirees navigating vacation properties, bridge financing, and freeing up home equity to support retirement goals.This episode is for retirees and pre-retirees who are considering downsizing and want to make a more informed and confident decision. WANT EVEN MORE RETIREMENT PLANNING TIPS?Join thousands of other Canadians and subscribe to the ⁠Retiring Canada Newsletter.⁠https://www.retiringcanada.ca/retirement-newsletterAs a thank you, you'll receive a copy of our latest Retirement Guide AND MORE!EPISODE RESOURCES:📊 Work with Michael: https://fundamentalwealth.ca/get-started💻 Subscribe to the Newsletter: https://www.retiringcanada.ca/retirement-newsletter👉 Download Our Latest Retirement Guide: https://www.retiringcanada.ca/retirement-guide✏️ Submit Your Question: https://www.retiringcanada.ca/submit-your-question🌐 Retiring Canada Website: https://www.retiringcanada.ca