One Minute Economics: Downsizing Your Home (Life?) Explained in One Minute: Should You Move to a Smaller House/Apartment?

  • Thursday, 12 December 2019 20:20
Perhaps you're nearing retirement and the kids moved out, maybe something else happened that made you think about downsizing your home... and yes, ultimately your life. Should you move to a smaller house or apartment so as to free up capital? As explained in this video... well, it depends on what you do with that capital. Downsizing your home so as to use the freed up capital for consumption is let's just say sub-optimal at best. However, investing that money wisely may just prove to be the best decision you've ever made. Think of the journey of downsizing your home as a journey toward financial freedom. As corny as it sounds, this is what it can ultimately boil down to. On the one hand, you move to a smaller house or apartment because you just don't need that much space anymore and on the other hand, you can use the additional capital in a wide range of creative manners: anything from creating additional income sources to simply having an emergency fund for a rainy day. So, should you downsize your home? If you're asking this question in the first place, the answer is most likely yes, but as explained in this video, being smart about it is paramount!

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