Should you downsize when you retire?

When you retire, you’ll experience many changes — should one of them involve your living arrangements?

The issue of downsizing is one that many retirees will consider. If you have children, and they’ve grown and left the home, you might find yourself with more space than you really need. Of course, this doesn’t necessarily mean you must pack up and scale down yourself. You might love your home and neighborhood and see no reason to go. But if you’re open to a change, you could find that moving to a smaller house, a condo or an apartment may make sense for you.

Let’s consider some of the advantages of downsizing: • You could save money. Moving to a smaller space could lower your utility bills and upkeep costs.