Some retirees save a great deal of money by doing so; others do not.
You want to retire, and you own a large home that is nearly or fully paid off. The kids are gone, but the upkeep costs haven’t fallen. Should you retire and keep your home? Or sell your home and retire? Maybe it’s time to downsize.
If you’ve just begun your career and started collecting a decent paycheck, retirement probably feels like it’s lightyears away. But it will get here quicker than you expect, and when it does, you’ll want to be prepared.
And if you’re in your 40s or 50s and haven’t started saving for retirement yet, it’s not too late. The most important thing is to start planning as soon as possible.
It’s believed that retirement planning as we currently know it didn’t really exist until a few decades ago. Up to that point, people worked until 65 and then sailed into retirement on a pension plan.
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