This Couple in Their 70s Grapples with Buying vs Renting Their Retirement Home
Sunday, 8 September 2024, 03:01
Homeownership Dilemma in Retirement
This couple in their 70s has nearly $1M in savings and is contemplating the critical question of buying vs renting their retirement home. With varying opinions on homeownership, they turned to Suze Orman for wisdom.
Advice from Suze Orman
Jean expressed her concerns about making this financial decision. Orman provided valuable insights that addressed their situation effectively:
- If the couple plans to stay in place long-term, purchasing may provide stability.
- Consideration of ongoing costs such as maintenance and property taxes is crucial.
- Renting offers flexibility and can be financially viable for their lifestyle.
Key Takeaways
Ultimately, the couple must weigh their personal comfort, finances, and future plans when deciding.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.