Less Is More: The Benefits of Downsizing in Retirement

Nightly Business Report
Sharon Epperson

For empty nesters and retirees who still have a mortgage and a house to maintain, downsizing can reduce one of their biggest fixed expenses, help stretch their retirement budget at a crucial time, and ensure they don’t outlive their savings.

According to a recent survey by the Demand Institute, more than 40 percent of Americans ages 50 to 64 plan to move within the next five years. Many of them will opt for a smaller place with the goal of saving money.

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