For decades, savers could rely on steady interest from certificates of deposit (CDs) to grow their wealth without taking on significant risk. However, today’s persistently low interest rates present a unique challenge for retirees who want their money to work harder without jeopardizing their principal. At Wealthy Choices®, I help clients navigate these financial waters […]
Category: saving money in retirement
How to Evaluate the Value of Your Home in Retirement: Key Questions to Ask Yourself
As you transition into retirement, one of the most important decisions you’ll face is whether your home still serves your needs. For many, the home holds a lifetime of memories and attachments. But as your lifestyle evolves, the practicalities of maintaining your home may no longer align with your goals and needs. Evaluating the value […]
3 Real Scenarios When Deciding to Keep Your Home in Retirement
As you step into retirement, the question of whether your home still meets your needs becomes increasingly important. It’s not just about the financial cost, but about how your home aligns with the life you envision for yourself in this new phase. Three individuals—Ed, Marguerite, and Evon—each took a different approach to this critical decision. […]
Is Your Home Still the Right Fit as Life Changes?
As we age, the way we interact with our homes inevitably changes. A home that once served your needs—whether it was chosen for proximity to schools, a spacious yard, or nearby conveniences—might not be as suitable as life moves into different phases. Whether the kids have moved out, your mobility has shifted, or your neighborhood […]
Defining Your Retirement: How Do You Want to Spend Your Time?
As I’ve helped many clients transition into retirement, one of the most important questions I ask them is, “How do you want to spend your time?” Retirement isn’t just about financial security; it’s about designing your life around the things that bring you joy and fulfillment. For me, retirement planning is not just about money—it’s […]
Are There Better Places to Live During Retirement?
Retirement opens up a world of possibilities, including the option to live wherever you want. Without the constraints of a job or raising children, you have the freedom to consider whether your current home is truly the best place for you during this new chapter of life. Whether you’re drawn to warmer climates, retirement communities, […]
Does Your Home Pass the Retirement Test?
Your home has likely been a place of comfort, security, and countless memories over the years. However, as you approach retirement, it’s important to assess whether your home will continue to meet your needs in this new stage of life. What once worked well may no longer be the best fit as your lifestyle and […]
Retirement Planning: Considering the Emotional Impact of Selling Your Home
Deciding whether to sell your home as you approach retirement is a decision fraught with emotional and practical considerations. As Penelope Tzougros of Wealthy Choices®, I’ve guided many clients through this complex process, helping them weigh the pros and cons of staying or moving. Emotional Ties to Your Home Your home is likely more than […]
Weighing the Decision to Sell Your Home in Retirement
As you approach or enter retirement, one significant question that may arise is, “Should I sell my home?” This decision involves considering various factors, including financial, emotional, and practical aspects. It’s a crucial choice that can significantly impact your retirement lifestyle and financial security. Financial Implications of Selling Your Home Selling your home can […]
Planning for Long-Term Medical Care in Retirement
One of the most pressing concerns for retirees is the potential need for long-term medical care. This uncertainty often leads to the question, “How do I fortify my portfolio if I need care for a long-term medical issue?” Planning for such scenarios is crucial to ensure financial stability and peace of mind during your retirement […]