Are you still living in the 3-bedroom home where you raised your kids? If so, downsizing is a great option for making extra money and saving yourself a bundle in the future. The truth is you don’t need all that space anymore and maintaining it can be an unnecessary expense. Sell your home and use the money to purchase something smaller. This will help you save money in a variety of realms like taxes, heat and electricity bills, water bills, and general upkeep. Combine all these aspects and you will inevitably reduce your costs. Another added bonus of selling your home is the extra cash you should have left over after you purchase your new, downsized home. This can be a nice lump sum addition to your retirement accounts, growing your nest egg and earning you even more interest.
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