Sunday, May 30, 2021
"According to the U.S. Bureau of Labor Statistics even though housing is the largest average cost in retirement, older Americans move far less often than the general population."
Many people spend their retirement in their existing homes, unless they have to move due to health issues.
According to Forbes, "from a financial standpoint, this rarely makes sense. A house is generally a poorly diversified, cash flow intensive investment that historically only maintains a price commensurate with inflation."
Essentially, a house is more of a lifestyle choice than it is an investment. Therefore, changing your residence when you retire could be the best move.
When you retire, your residence heavily influences your lifestyle and daily activities.
Financing a new housing lifestyle could provide a lot of new options and opportunities.
See Steve Parrish, Your Residence Is Your Retirement, Forbes, May 26, 2021.