Kids Are All Grown Up? Now What?
Remember how back in the day when you and your spouse worked overtime and did whatever you had to do to save for a down payment? That down payment that was going to take you from a two bedroom one bathroom apartment to a five bedroom four bathroom home. Or how about even before that when you were still in school while having two children and pregnant with one more to create a better life for your family. Eventually your mission is accomplished. The American dream.
Fast forward, 22 years have passed and the children are all grown up. You are not as young as you used to be. Now the thought of cleaning your five bedroom home feels like a gut punch. It's an honor to see all of your children grow up, graduate college, get married and live on their own. But now all of these children you've sacrificed so much for are all out of the nest. Now what?
You're about 70 years old now. Are you still able to work between 40 to 60 hours/week, come home and maintain the family home? I mean what's the use these days? The children are all grown up and everybody's gone. You might as well just live in a condo and make profit off of the sale of the home.
What I'm suggesting in this blog post is perhaps it may be time to down size. I've worked with a couple who lived in a beautiful home for almost 40 years and decided to not only downsize but to rent! I mean, most people always say purchase, purchase, purchase. But this couple wanted the burden to be off of them so badly they sold their house, made their money and now they're living comfortably without worrying about maintaining a home by renting.
I'm not saying that you should do the same thing but what I am saying is it might be a good idea to consider downsizing. A Lot of times downsizing may be a more comfortable situation for you. It's less maintenance, less stress and easier to manage. You can even use some of the money you've made from selling your home to invest in an investment property to create passive income. I don't know about you but having passive income from the home that you've worked hard for is a good way to enjoy the fruits of your labor.
If you're thinking about downsizing feel free to reach out to me anytime.