Choosing where to live in retirement is about more than just finances — it's about creating a home that aligns with evolving needs, goals and lifestyles.
In this episode, Joe Patterson, CFP®, and David J. Nienaber, MBA, CPA, CFP®, both Financial Planners and Shareholders at Foster & Motley, Inc., discuss the financial and emotional considerations of downsizing, upsizing and rightsizing in retirement. They explore how housing decisions impact long-term financial security and lifestyle, highlighting real client experiences and key factors to consider when planning for the future.
Key Takeaways:
(00:52) Downsizing isn't always the answer.
(02:23) Social norms push downsizing, but it's not for everyone.
(06:56) Retirement communities offer long-term security.
(08:28) Continuous care communities provide peace of mind.
(11:05) Renting first helps retirees find the right fit.
(13:15) Downsizing often costs more than expected.
(16:09) Insurability is a growing issue in high-risk areas.
(19:07) Family talks are crucial for vacation home plans.
(21:31) Emotional ties make relocation tough.
(25:02) Tracking routines before moving prevents surprises.
Resources Mentioned:
Foster & Motley, Inc. | Website
https://www.fosterandmotley.com/
Connect with Joe Patterson and David Nienaber:
info@fosterandmotley.com
+1 513-561-6640
LinkedIn: Joe Patterson
https://www.linkedin.com/in/josephapatterson/
LinkedIn: David Nienaber
https://www.linkedin.com/in/dnienaber/
LinkedIn: Foster & Motley, Inc.
https://www.linkedin.com/company/fosterandmotley/
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