In this episode, Kevin discusses the topic of downsizing to retire early.
He shares the reasons why people downsize their homes to fund their retirement and talks about the tax implications of doing so.
Takeaways:
Downsizing to a smaller home can help fund retirement and allow for an earlier retirement. Home equity can be a valuable asset to consider when planning for retirement.
Consulting with financial and tax professionals is crucial to understand the tax implications of downsizing.
Social media algorithms can shape people’s opinions and contribute to the perception of a divided society.
Considering the emotional attachment to a home when downsizing is important, but it’s essential to consider financial goals and retirement plans.
Chapters Introduction and Overview:
The Influence of Social Media Algorithms
Emotional Attachment and Financial Goals in Downsizing
Tax Implications of Downsizing
Maximizing Home Equity for Retirement
Social Media:
LinkedIn
Referenced in Episode:
How to keep most (if not all) of your home sale profits tax-free!
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