Cheryl Karr - Your Solid Source Realty Agent

  It’s not unusual for people to look for ways to cut housing costs, and it’s especially true of older adults who may be looking for ways to retire early or make life on a fixed income more comfortable. From the traditional approach of downsizing to the more adventurous option of retiring abroad, there are many ways for you to cut housing costs in retirement. Read on for eight ways to lower your housing expenses: 1. Plan for Multiple Phases of Your Retirement You will likely live a long time in retirement. And, the home that is right for you at 50 or 60 might not be right for you at 70 or 80, let alone when you are 90. You can do a better job of predicting and perhaps lowering your housing costs by planning ahead. You may want to stay in your family home now, but downsize ...

  Many seniors opt to sign up for Social Security at age 62, which is the earliest age you can begin to claim benefits. But if you want the full monthly benefit you're entitled to based on your personal earnings history, you'll need to wait until full retirement age , or FRA, to file. This year, however, a large number of seniors are at risk of signing up for Social Security at the wrong time. Here's why. Full retirement age is increasing FRA isn't universal. Rather, it differs based on the year a given applicant was born. FRA was 66 on the nose for anyone born between 1943 and 1954. But for those born in 1955, FRA increases to 66 and two months. If you're turning 66 this year, you may be inclined to file for benefits immediately and start collecting your money. But if you're actually not entitled to your full monthly benefit until 66 and two months, you'll shrink that payment on a permanent basis by signing up a couple of months ahead of schedule. Chec...