Quote:
Originally Posted by disneysteve
I know a number of people, including my mother, who have downsized in retirement, but none of them did it for financial reasons. They did it because they no longer needed the big house and multiple rooms, they weren't able to take care of the house anymore, they weren't physically able to get around as well with stairs and all, or they wanted to move to a warm climate to escape wintertime. In fact, a couple of people who moved to warmer climates actually spent more on their "downsized" homes than they got by selling their existing homes. They pulled money out of savings to make up the difference.
So downsizing isn't always a financial matter.
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I agree completey with you Steve.
I didn't mean to exclude other reasons as to why people "downsized". I was simply referring to whatever root caused people arrives at the decision to "downsized" (i.e., financial or non financial reasons) that capital gains will be part of your estate whether you like or not.