Downsizing in Retirement: Is It the Right Move for You? (Ep. 31)
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Do you find the thought of downsizing in retirement daunting?
In this episode, John and Alex Soutsos talk about the complexities of retirement planning and downsizing in a real estate market that often defies expectations. Tackling key topics like maintaining a healthy lifestyle, unlocking capital through real estate, the pros and cons of reverse mortgages, and the emotional and financial impacts of losing a spouse, this episode offers listeners invaluable insights into navigating retirement. Whether you’re contemplating a smaller home or considering how to better support your adult children financially, John and Alex provide the guidance you need to make informed decisions.
John and Alex discuss:
- (02:11) Helping Adult Children Financially Through Real Estate Equity
- (03:26) Downsizing and Maintaining Mobility in Retirement
- (07:51) Exploring Home Equity Lines of Credit and Reverse Mortgages
- (11:34) Emotional and Financial Preparation for Losing a Spouse
- (17:32) Preparing for the Death of the Final Spouse
- (20:33) Financial and Tax Implications at the Death of a Spouse
- (24:33) Understanding Canadian Inheritance and Capital Gains Taxes
- And more
Resources:
Connect with Med-Wealth Financial Services:
- Med-Wealth Financial Services
- LinkedIn: John Soutsos
- LinkedIn: Alex Soutsos
- LinkedIn: Med-Wealth Financial Services
- Twitter: Med-Wealth Financial Services
- info@medwealth.ca
- 905-568-2000
- 1- 888-568-1170
Did you like this episode? Don’t miss the next episode with tax expert Kim GC Moody as he returns to tackle taxes in professional sports and expatriation. Remember to subscribe to us on your favourite podcast channel for more empowering discussions!
