The Globe and Mail
July 23, 2023.
For Canadians wondering if they should factor their home’s value into financial planning, Ty Cooke, Wealth Advisor, Investment, Advisor, Portfolio Manager with Richardson Wealth says “downsizing doesn’t necessarily mean less cost.” But, he says, it can provide a more convenient lifestyle for seniors who become renters and no longer have to deal with the hassle of maintaining a property.
However, many seniors have been struggling to downsize because of a lack of suitable retirement housing and pricey rents for smaller alternatives – and the emotional challenge of leaving their home.
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