Sep 01 2008
Midlife Plan for Retirement
A good friend just bought her retirement home. She’s been living in one place for the past 34 years, has a good job and knows she will be retiring in about 10 years. The last of the kids is off to his final year of college and is moving on. It’s time for her to make the big choice about what to do with the next third of her life.
If you’ve got the money and a plan for your retirement, this is the time to buy that dream house for the future. Prices have hit rock bottom (all things being equal…) and if you have great credit and equity in your current home, now is the time to make the move.
The options are multiple: Continue to live where you are, especially if you own your home outright, take the equity and buy your dream villa in the location of your choice. Or if you wish, sell outright, buy the dream house and if you are not yet ready to make the retirement leap… rent for the couple of years it takes till you are ready to jump into those leisure years.
Get all your ducks in a row. Call your friends and get the best referral for a realtor, lawyer, mortgage broker… investigate, ask questions. Don’t be afraid to explore all your options. Visit potential locations, check out where old friends are living happily into their retirement. And live a little. Time is of the essence.
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