Retirement is a Long-Term Investment
Retirement is exciting. We all look forward to retiring and finally having time to do whatever it is we want. But we also can look at retirement with some trepidation. It feels like we’re entering a new phase of life, and many of us dislike change.
At Acts Retirement-Life Communities, our entire business is centered around retirement, and over the years we’ve learned an extremely valuable lesson. Retirement isn’t only a transition into a new phase of life. It's also a long-term investment in your health and happiness.
Your retirement years can and should be the absolute best time of your life, a period where you can enjoy anything and everything you might not have been able to while you were younger. Let’s face it: working a full-time job, in addition to possibly helping raise a family as well, left you little time for yourself. Retirement makes all this possible. Here’s why you deserve to invest in yourself for the long-term.
Finding the Resources to Enjoy the Best in Life
People approaching retirement age often have lots of financial concerns. They worry if they’ve planned enough by putting money into retirement savings so that they’ll be able to live comfortably once they stop working. And hey, that’s a valid fear. Social Security alone doesn’t exactly cut it nowadays, so it’s only prudent to invest in an IRA, a 401(k), or anything else that can help you manage the costs of retirement.
Yet many retirees – or those soon retiring – don’t realize they may have a massive nest egg that’s just waiting to hatch right under their feet. That’s right: the old family homestead, that same one you’ve been living in for decades, is an incredible resource for any retiree. We know you’ve got memories packed into those walls, but the memories don’t fade the instant you leave. Meanwhile, you can easily put your existing property up for sale to access the built-up equity in your house and then use the proceeds of the sale to downsize to a smaller, more modestly-priced home.
But why should you do that? Because the remaining equity goes straight into your savings, to use however you please. Suddenly your retirement looks a lot brighter now that you’ve got more resources at your disposal!
So while it involves more change, we recommend all retirees when assessing their financial situation to strongly consider downsizing from their family home. Read on for even more reasons why.
How Does Selling Your Old Home Help?
Selling your existing home might not be the first thing you want to do once you retire. As we’ve already discussed you’ve got a lifetime of memories built up in the old place, and that’s hard to walk away from no matter how much money you might get for it if you put it up on the market. Besides, where would you even go with all that equity burning a hole in your pocket? And how does going through the stress of moving somewhere else help you invest in your own health and happiness?
There’s no big mystery here. Saying goodbye to your old home means fewer headaches for you in a number of ways. You no longer have to deal with paying property taxes, for one, and that’s a huge hassle off your shoulders. Also, paying to heat and cool a large home, plus keeping the lights on, adds up as well. Factor in things like lawn maintenance, trash removal, and the inevitable cost and inconvenience of having to replace an old, leaky roof or a busted boiler, and it’s a wonder more retirees don’t leave their old homes and never look back!
In short, you are paying way more than you need to live in way more space than you need. In that sense, downsizing is such a smart decision. You get more money up front to store in your nest egg, you have less living expenses moving forward, plus less to worry about and maintain. That means you have more money for living your retirement dream, and more time to do it! And that’s why we consider it a long-term investment in yourself.
Where Do You Go From There?
Offloading your old home, no matter how much you might have loved living there, offers you the kind of freedom and independence that you need to truly enjoy your retirement to the fullest. You still need somewhere to live, though – and moving to purchase a different home, even a smaller one that’s less expensive to manage, is putting you back into the situation you were trying to get out of. So where in the world do you go?
Don’t worry – we’ve got you covered. Are you looking for a place that offers you a comfortable place to live, is affordable when compared to owning your own property, and doesn’t require you to handle maintenance and repair issues personally? How about a place that offers a resort-like setting, filled with indoor and outdoor amenities that you can enjoy to your heart’s content? It might sound like a pipe dream, but it’s not – it’s a modern retirement community.
How Moving to a Retirement Community Helps You Live Your Best Life
Modern retirement communities offer you the best option if you’re looking to make the most out of your retirement years. The cost of living in a retirement community, over the long term, is highly affordable when compared to all the costs that you’ll accrue while aging in place in your old family home. Not to mention that you can’t access the equity in your home if you’re still living there! But that’s not all retirement communities offer.
Being retired means finally having opportunities to do everything you’ve always wanted to. Want to focus on your physical fitness? Retirement communities have gorgeous walking trails, swimming pools, and fitness centers for you to enjoy. Want to work on hobbies? Learn to paint, draw, sculpt, or even woodwork thanks to art and craft studios, complete with instructors. Looking to socialize? Clubhouses, card and game rooms, performing arts centers, and other great opportunities abound.
In short: one of the best ways to live your best retirement life is surrounded by other retirees in an amenity-rich environment built to allow you to spend your days doing what you love.
The Last Word on Investing in Yourself During Retirement
What we’re trying to show here is that retiring is not about moving into a new or even final phase of life. It’s about enjoying the reward you’ve earned through your life so far, and investing in what will make you happiest and healthiest moving forward.
Yes there will be change, but now is the time to determine what that change should be, to set you up for the most fulfilling retirement possible.
Because really, retirement should be the greatest time of your life. The world is suddenly your oyster, and you’ve got all the time you want to devote to the most important thing in it – you! You’ve earned some time to devote to yourself, and the best way to leverage that time is by moving to the retirement community of your choice.