The Empowered Investor Podcast’s Post

𝐄𝐦𝐩𝐭𝐲 𝐍𝐞𝐬𝐭𝐞𝐫𝐬: 𝐈𝐬 𝐈𝐭 𝐓𝐢𝐦𝐞 𝐭𝐨 𝐃𝐨𝐰𝐧𝐬𝐢𝐳𝐞? This insightful post by our associate portfolio manager Marcelo Taboada highlights an important reality for many aged 65+: staying in a large family home can become a burden—physically, financially, or both. Planning ahead is key. Selling under pressure is far from ideal, so consider these questions now: ✔️ Is your home ready to sell as-is? ✔️ Could proceeds fund rent, a smaller home, or downsizing? ✔️ How will this impact your financial future? If you or your parents are in this situation, it’s worth exploring. What’s your take? Let’s discuss! 

If you or your parents are empty nesters living in the suburbs, this post is for you. I’m increasingly seeing people in the following situation: -65+ years old. -Children have all moved out. -They have too much house. While staying in the family home may feel manageable now, there comes a point where it becomes too much to handle—either physically or financially. One day, the upkeep of a large house could become a significant burden, impacting either your well-being or placing an additional responsibility on your children. For some, this can also evolve into a financial strain, especially if assistance is required and the funds aren’t there. Rising costs of living and healthcare can further highlight the need for liquidity. My advice: plan ahead. The worst time to sell an asset is when you're under pressure and must act quickly. Proactive planning can help avoid this. Here are some questions to consider: -Is your home in a condition to be sold as-is? -Will it require repairs before listing? -If you sell and invest the proceeds, what could you realistically spend on rent? -Or should you consider downsizing to a smaller home or condo? This is a growing reality, and I expect it will become even more common in the coming years. In my own neighborhood, more than half the homes are owned by people in this category. Though anecdotal, I believe this reflects a trend in many suburban areas across Canada. Scott Broady, Morgan Englebretsen—I’d love to hear your thoughts on this.

With homeownership feeling out of reach, many are facing significant financial strain to cover rent. Young people across the country are sharing their stories of high rent costs, often exceeding the 30% rule of thumb for housing expenses. 📈🏠 Read the full article to learn more about how the housing crisis his has led to sacrifices in other areas of life & reshaped living situations 👇 https://lnkd.in/euuMtdNP #HomeMattersAZ

Your children leaving home is a milestone, however you might feel about it. It's also a fantastic opportunity to review what your future will look like. What do you want to do with your time now that you have more available? How will your outgoings change? What bucket list items could now be affordable for you? A big question is where you will live. Do you need as big a house? Do you still have ties to that area or could you move to a new town? Should you downsize? What could that extra money be used for? This is an excellent point at which to work with a financial adviser who can build a cash flow model and show you what your future could look like. #downsizing #emptynesters #financialplanning #cashflowmodels

Selling your aging parents' home is a significant decision, and it comes with both pros and cons to carefully consider. Pros: Financial Freedom: Selling the home can provide financial resources for your parents' care, retirement, or other needs. Reduced Maintenance: No longer worrying about property upkeep can alleviate stress and physical demands. Simplified Living: Downsizing to a smaller home, condo, or senior living community can make daily life more manageable. Community Access: Moving to senior-specific housing can offer social opportunities and support services. Estate Planning: Selling the home can help with estate planning and asset distribution. Cons: Emotional Attachment: Letting go of the family home can be emotionally challenging for your parents and the family. Moving Stress: The logistics of moving and settling into a new environment can be overwhelming. Financial Considerations: Selling may have tax implications, and transitioning to senior housing can be expensive. Timing Issues: The real estate market and the need to find the right living situation can complicate the process. Change in Lifestyle: Moving can mean adapting to a new community and lifestyle, which may not be ideal for everyone. It's crucial to weigh these factors carefully and, ideally, involve your parents in the decision-making process. Each family's situation is unique, so consider what aligns best with your parents' wishes and requirements. Download my free guide to 'Navigating the Sale of Your Parents' Home' at https://lnkd.in/gi8eU5p8 #HomeSale #DurhamHomes #HomeSale #OshawaSeniorCare #IndependentLivingCommunity #WhitbyHousing

Selling your aging parents' home is a significant decision, and it comes with both pros and cons to carefully consider. Pros: Financial Freedom: Selling the home can provide financial resources for your parents' care, retirement, or other needs. Reduced Maintenance: No longer worrying about property upkeep can alleviate stress and physical demands. Simplified Living: Downsizing to a smaller home, condo, or senior living community can make daily life more manageable. Community Access: Moving to senior-specific housing can offer social opportunities and support services. Estate Planning: Selling the home can help with estate planning and asset distribution. Cons: Emotional Attachment: Letting go of the family home can be emotionally challenging for your parents and the family. Moving Stress: The logistics of moving and settling into a new environment can be overwhelming. Financial Considerations: Selling may have tax implications, and transitioning to senior housing can be expensive. Timing Issues: The real estate market and the need to find the right living situation can complicate the process. Change in Lifestyle: Moving can mean adapting to a new community and lifestyle, which may not be ideal for everyone. It's crucial to weigh these factors carefully and, ideally, involve your parents in the decision-making process. Each family's situation is unique, so consider what aligns best with your parents' wishes and requirements. Download my free guide to 'Navigating the Sale of Your Parents' Home' at https://lnkd.in/gi8eU5p8 #HomeSale #DurhamHomes #HomeSale #OshawaSeniorCare #IndependentLivingCommunity #WhitbyHousing

Yesterday I signed a Ministerial Order to change the First Time Buyers Guidance to make it a little bit easier for people who own a small flat to regain their First Time Buyer status when they want to buy a bigger home so they can start a family. Previously, anyone who wanted to regain FTB status would have to go through a bureaucratic procedure and formally ask the Housing Minister's permission. Now this will be managed directly by the government's Housing Advice Service, who will deal with applications within 5 working days. This will help give prospective buyers confidence to put in offers to buy a family home. It might sound counter intuitive, but allowing people to still count as first time buyers when they buy their second home can be beneficial. It helps free up smaller homes for genuine first time buyers, and helps people who otherwise couldn't afford to upsize to get that opportunity. There are lots of "first time buyer" restricted homes on the market for prices which genuine first time buyers would never be able to afford unless they were extremely well off. I have seen some on the market for almost £800k! This minor change will help give working families on slightly lower incomes a fighting chance. I want younger Islanders to believe that Jersey is a place where they can have confidence they can live a prosperous life and start a family. Helping Islanders into homeownership is a core part of this mission.

📰 Low-income renters struggle with high housing costs everywhere, but middle-income renters have it much tougher in some states. Only 6% in North Dakota were cost burdened in 2022, while 55% in Florida were. Hawaii, Nevada, California, and Arizona had over 40% of middle-income renters facing this problem. Middle-income renters with cost burdens still have more money left after housing than low-income renters ($2,900 monthly in 2022). But high housing costs can hurt long-term savings. Low-income renters, with even less to spare, often have to sacrifice most of their necessities. Housing programs for middle-income renters could end up hurting low-income households. These programs might divert resources from those who actually need it. Middle-income renters, with higher incomes and potential, often make $63,000 or more a year. They’re usually college-educated and in their prime earning years. ⭐️Don't let rent be your biggest expense. Start your real estate journey by booking a FREE consultation call with us today❗️

Is this really what the young are now left to aspire to. A room with 8 others squeezed into what used to be a 2 bedroom home. Is this really what planners should be allowing, while ignoring or turning down new family homes.? Do you want your children or grandchildren to live like this. They don’t have to, there is a way to enable all that want to into full freehold homeownership. Those like the person below are only interested in rabbit hutches for humans. Bringing them as much money as possible. They’ll tell you they are helping those without a home. The tenements, ghettos, slums of the future with the following downturn in community, decent behaviour, are growing ever faster. And the Government wonder why people don’t want to work anymore 🤷♂️ It used to be that you worked your backside off as it gave you an opportunity to own your own family sized home. That has seemingly been removed from aspirational ability. It truly hasn’t, it’s just the way they want to push us. Rent rent rent. More money continuously increasing for the few that do own and rent out. #R2ORent2Own ®️is the way to a paradigm shift in property ownership. It’s not given to anyone, they have to work for it. But the prize is guaranteed if they do. Not continually moved away from them.

📢 Did you know? Owning a home could add years to your life! 🏡💼 A fascinating study from Oxford University reveals that homeownership is linked to longer life expectancy—by 0.36 years for Black males and 0.42 years for White males born in the early 20th century. But it’s not just about owning property; it’s about the wealth, stability, and social benefits it brings. 🌟 Here’s why homeownership matters: Homeownership is a powerful social determinant of health, influencing financial stability, community connections, and access to safer, more secure living conditions that collectively enhance overall well-being and longevity ✅ Financial security: Builds wealth, saves on housing costs, and creates a safety net for the future. ✅ Stronger communities: Homeowners often enjoy deeper social connections and a sense of belonging. ✅ Better health: Improved housing conditions mean fewer risks of chronic and infectious diseases. ✅ Peace of mind: The stability of owning a home reduces anxiety, stress, and the fear of eviction. But here’s the catch: Millennials are struggling. Only 33% own homes by age 30, compared to 55% of the Silent Generation. With rising housing costs and wage stagnation, the dream of homeownership feels out of reach for many. Keepingly® Empowers Homeowners: 🔹 Track Your Home’s Health with the KeepTrack Score: Stay ahead of maintenance by monitoring your home’s condition with our KeepTrack score. Proactive upkeep means fewer emergency repairs, less stress, and lower long-term costs. 🔹 Peace of Mind, All in One Place: Organize critical documents, warranties, and service records effortlessly. Never scramble for paperwork when something breaks – Keepingly® has you covered. 🏘️ What’s the solution? The study calls for equitable housing policies to close the racial and generational gaps. Expanding access to homeownership could not only boost financial security but also improve public health and well-being. https://lnkd.in/eCq5wNzP Vance K. Jackson Jr. Joe Ventrone Amy McCoy Nathaniel Crawford Katy Kelly Samantha Katz #homeownership