More Americans are renting homes in retirement for flexibility - Business Insider

"We owned homes all through our careers, and they turned out to be good investments," Joe tells Business Insider. They lived all over the US in 16 different homes, both owned and rented. Before Joe retired in 2016, they lived in aoverlanding vehicle

they use to travel the world, and they plan to rent something more permanent when their adventure is over. The couple wanted to start living their retirement dreams sooner rather than later, and found that selling their home was the best way to do that. "Selling the house wasn't so much a strategy as it was a necessity. It was the only way we could retire early," Joe says.

For this couple and a growing number of retirees, a combination of lower expenses, freedom, and flexibility are making renting more alluring than owning. "I think that renting is a tool that's overlooked by many retirees," says Greg DuPont, a financial planner in Columbus, Ohio. He's seen retirees going against the traditional advice of having a paid-off mortgage in favor of renting, and considers it to be a smart financial move in some cases. "The whole notion of homeownership and building equity and transferring that equity down to the kids has been kind of a flipped on its ear by what happened in 2008," DuPont says.

Your not suppose to have a mortgage when you retire.

Smart

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

This map shows how many Americans identify as Iranian in every US state - Business InsiderDespite tensions between the US and Iran, there are Iranian-American communities across the country, and they make up a vital part of the US.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tesla's success proves that what America needs is business, business, and more business - Business InsiderFor 10 years the country has discouraged more than encouraged new businesses to get started. That needs to change, following Tesla's example. Winning, winning, winning with Trump. Still not bored of it.... Big business has been working hard to stop electric cars and Tesla Media can’t even to pretend correctly they like this guy and the disruption his companies are making for business as usual, petroleum backed/invested, media owning interests.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Joining a 'mastermind group' could help your business thrive in 2020 — here's how - Business InsiderBeing a solo entrepreneur is a daunting task — but joining a mastermind group can offer some vital support.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Receipt Bank scoops up $73 million to help businesses with digital bookkeeping - Business InsiderReceipt Bank will likely continue to attract more clients with its digital bookkeeping platform after scooping $73 million in funding.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Top business stories: Apple Store robots, Goldman's alt push, budget sheet - Business InsiderHere are the top business stories you need to read this week, including Apple Store culture, Goldman's push into alts, and a budget spreadsheet.
Source: BusinessInsider - 🏆 729. / 51 Read more »