Downsizing Time

After Todd's wife loses her job, they are thinking about downsizing to a smaller home.

QUESTION: Todd’s wife had her job phased out. She is 60 years old was just laid off from work. They owe $90,000 on their $220,000 home. Should they sell the house and use the equity to downsize?

ANSWER: There’s nothing wrong with downsizing, but you can start a new career at age 60. If you downsized and paid cash, that would be fine; then you can move up later if you can afford it. But I would challenge the mentality that “it’s over”. There’s a lot of stuff she can do and you can do.

Jump-Start Your Goals!

Jump-Start Your Goals!

Get our 8-Day JUMP START series and weekly newsletter that are packed with articles and tools to help you win with money.

Learn to Beat Debt

Take Control of Your Money!

The best way to get out of debt and take control of your money is to make a plan! Financial Peace University is that plan!

Find a Class

Thank You!

Your 8-Day Jump Start is on its way to !