Chris Worby a Trusted Regina Financial Advisor talks about retiring with a large house.
You know, it never ends. We work hard and do our best to get to a point where we can get the things we want and they end up being harder to deal with than we think.
In this article, we see how the long term costs of owning a larger house can weigh on a person’s retirement finances. It may even be worth considering a more modest house at all times because they certainly do cost a lot!
I like the two tips at the end:
– Try to keep your fixed costs (Mortgage payments, utilities, groceries, etc) down to 50% of net income.
– An $800,000 house is likely to cost around $2,000,000. Many of us think of a house as an investment but often it turns out to be a money pit.
December 16, 2014
Chris Worby is a Trusted Regina based financial advisor and Wealth Management services provider servicing local Regina households and businesses since 2001.