Many of today's retirees are having trouble making ends meet due to bad investments, unexpectedly low payouts or returns from financial products, or just plain old faulty planning.
A lot of seniors who experience financial problems are being forced to downsize their homes to be able to stretch out their nest egg and make it last their retirement.
Retirees have a number of available options on where they can live out their retirements, such as buying a smaller home, renting, or moving to a retirement home or care facility.
Seniors who move house for retirement may find that their homes aren't easy to sell, especially at the price rates trending in the local and national housing markets.
The good news is that assisted living communities and companies that cater specifically to seniors have joined forces to help seniors sell their current homes, move into a new place of residence, and hopefully have enough of a nest egg to last the rest of their golden years.
Here's why seniors may need to downsize their way of life and where they live: Seniors having money problems may not have the spare cash to pay for home renovations or remodeling, which can be costly even for the most minor repairs.
For example, re-plumbing an old house due to leaks or other problems can go beyond thousands of dollars for such a renovation.
The uncertainty of the stock market and the decline of other investments have made a huge dent in their retirement finances.
Seniors who weren't able to diversify their portfolio to guard against unexpectedly low returns are some of the hardest hit by the economic crisis.
Elderly homeowners who are experiencing a decline in health, or require extensive or extended medical attention, may need more money to pay for the costs of expensive health care.
This is especially applicable to seniors who aren't eligible for healthcare programs, or have insufficient coverage.
Seniors and the families supporting them are struggling to do so physically, emotionally, and financially due to the constant bombardment of bad news resulting in feelings of fear and hopelessness.
With the costs of maintaining and living in a large home on the rise, many seniors are hoping to protect their nest egg by moving to a downsized home.
If you want to move to a home that's easier to keep or less costly on your budget, contact a real estate agent or your financial planner for more information.
A lot of seniors who experience financial problems are being forced to downsize their homes to be able to stretch out their nest egg and make it last their retirement.
Retirees have a number of available options on where they can live out their retirements, such as buying a smaller home, renting, or moving to a retirement home or care facility.
Seniors who move house for retirement may find that their homes aren't easy to sell, especially at the price rates trending in the local and national housing markets.
The good news is that assisted living communities and companies that cater specifically to seniors have joined forces to help seniors sell their current homes, move into a new place of residence, and hopefully have enough of a nest egg to last the rest of their golden years.
Here's why seniors may need to downsize their way of life and where they live: Seniors having money problems may not have the spare cash to pay for home renovations or remodeling, which can be costly even for the most minor repairs.
For example, re-plumbing an old house due to leaks or other problems can go beyond thousands of dollars for such a renovation.
The uncertainty of the stock market and the decline of other investments have made a huge dent in their retirement finances.
Seniors who weren't able to diversify their portfolio to guard against unexpectedly low returns are some of the hardest hit by the economic crisis.
Elderly homeowners who are experiencing a decline in health, or require extensive or extended medical attention, may need more money to pay for the costs of expensive health care.
This is especially applicable to seniors who aren't eligible for healthcare programs, or have insufficient coverage.
Seniors and the families supporting them are struggling to do so physically, emotionally, and financially due to the constant bombardment of bad news resulting in feelings of fear and hopelessness.
With the costs of maintaining and living in a large home on the rise, many seniors are hoping to protect their nest egg by moving to a downsized home.
If you want to move to a home that's easier to keep or less costly on your budget, contact a real estate agent or your financial planner for more information.
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