We have many reasons to factor in when faced with the question to downsize, but interestingly enough, this isn’t a factor that usually pops up on our radar.
An author from a news source reports, “Parents spend $500 billion annually on their adult children. But they’re only putting $250 billion away per year toward their own retirement. That is according to a study from Merrill Lynch and Age Wave, which takes a look at how parents engage with their children financially.”
The financial journey of modern parenting can leave you a little wide-eyed, however, you’re not alone. A financial investment firm states that, “90% of parents were surprised with how much more money they were spending after becoming parents.”
The good news is, making smarter real estate investments may offer solutions to some unexpected costs. Whether you need to hang on to your larger home, buy a larger home or down size to cash in our your investment…we can help you in the process. Talk to your financial advisor and determine what makes the most sense for your needs. Once you have a game plan, call us.
We help people. That’s our business.