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Kiplinger: How to Retire Rich

How to Retire Rich: Smart Steps at Ages 50-66

Dare to downsize. You may have hoped to move to smaller digs as soon as the kids were grown (and the boomerangers departed). But some homeowners who have seen the value of their homes decline in recent years are reluctant to sell until the real estate market rebounds, says Michael J. Nicolini, a certified financial planner in Elkhart, Ind. Even if your home hasn't returned to its former value, moving to a smaller home could save you thousands of dollars a year in taxes, utility costs and insurance. That's money you can funnel into retirement savings.


More From Kiplinger:
5 Costly Retirement Surprises
10 Things You Must Know About Social Security
10 Most Tax-Friendly States for Retirees

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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