Ep 63: Common Retiree Housing Questions

With the state of the housing market and rising interest rates a lot of retirees have questions about their house and how it fits into their overall retirement plan.

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The Game Plan

With the state of the housing market and rising interest rates, a lot of retirees have questions about their house and how it fits into their overall retirement plan. For many of us, we may feel our house is our biggest asset and is a big part of the financial equation.

With the Fed raising interest rates should you pay the house off as fast as you can or keep with your minimum payment? Dale recommends paying off as soon as possible, you’ll save thousands in interest and you can enter retirement without that burden. Traditionally, a lot of retirees consider downsizing once their family has moved out. But in our current market, you may end up paying just as much for a smaller home.

As with anything though, the answer to these questions will depend a lot on your situation and retirement plan. On today’s episode, we discuss these common housing questions and more.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[0:50]Golf season!

[1:09] Should you pay the house off ASAP?

[4:35] Should you downsize?

[7:28] Using your home as an emergency fund

[8:36] Signing the house over to the kids

[10:46] How it fits into the estate plan

[12:21] Make your wishes clear

[14:15] Looking into a reverse mortgage

 

For me and for my clients, I always tell them to try to pay the house off as soon as possible and be done with it. Number one you’re going to save thousands and thousands in interest and you won’t have to worry about a house payment. You own it 100%.”

– Dale Tondryk

More To Explore

Ep 71: Going Against the Grain to Achieve Your Retirement Goals

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.

Ep 69: Navigating Retirement and Divorce

We are going to discuss a tough topic today, divorce. Going through a divorce at any age is difficult but doing so close to or in retirement adds additional complications. There are a lot of little nuances that go along with splitting your assets and it can be an emotional investment as well.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com