Robin Friedman
speaker
175 appearances
4 recordings
1 series
first heard Aug 2017
last heard Feb 2024
Robin Friedman’s voice in public audio — every appearance, attributed to the second.
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Appearances
But they use all that space.
They entertain frequently, and they use the outdoor space for entertaining.
She's currently living in a three-story townhouse, and she's finding it a little bit crowded for her current needs.
She's using her den as an office, and she's squeezing her workouts into a tiny portion of her living room.
So she's currently looking for either a single-story home or a home that has the primary bedroom on the first floor so she has accessibility in the future.
And she wants enough bedrooms to be able to have one for a dedicated home office and another for a gym.
Before purchasing, older adults really need to consider how much maintenance they're willing to do in retirement.
And they need to be honest with themselves.
Generally, the larger the home, the more maintenance required.
But buyers need to remember that things can change very quickly.
You may start out planning to handle routine maintenance on your own, but if you have a health crisis, that could change things pretty quickly.
I spoke with a housing economist, and he explained to me that there's a rule of thumb that retirees should spend only 4% of their total retirement savings each year to make sure they don't run out of money in retirement.
So he suggests that to avoid overpaying for a home, retirees should calculate that 4% number, add in Social Security payments and other cash flow, and that should cover your budget, including housing costs.
From that number, you can then determine what you can afford to pay for housing and still have enough money set aside for the rest of your life.
Absolutely.
And today, even smaller homes can have lots of maintenance due to the technology and complicated systems being incorporated, whether that's smart home technology, solar panels, batteries, or pool systems.
Older adults should focus on function, not on square footage per se.
Having a ton of extra space doesn't matter if you don't need it.
You really need to sit down and determine what your needs are and what they'll be in the future and then buy appropriately.
For example, is your family going to come to visit frequently?
Showing 21–40 of 175 · page 2 of 9
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