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

The Financial Calendar

Join us in this episode of The Retirement Playbook podcast as Dale dives into the essential financial matters you need to address throughout the calendar year. He provides valuable insights into maximizing retirement contributions, managing required minimum distributions (RMDs), and making strategic financial moves to optimize your retirement savings.

Financial Therapy

Financial discussions and retirement planning can come with many emotions. From counseling couples with differing financial views to providing support during challenging life events such as divorce or medical issues, financial professionals wear many hats, including the role of a therapist. In this episode, Dale discusses the impact of having a financial professional guide you through life’s most stressful moments.

Ep 88: The Retirement Lifestyle

We’re taking a quick break from the Xs and Os of retirement finances today. Instead, we’re going to talk about some other important pieces of forming your retirement lifestyle. Join us as we discuss staying busy, the significance of social connections after you’ve stopped working, and maintaining your physical and mental health throughout retirement.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com