Today’s Practical Planning Tip from my grandfather is Proactively downsizing: After my grandfather retired, he and my grandmother sold their house and moved to a smaller home in a nearby community. Many retirees hesitate when it comes to downsizing. They stay in their current home too long, oftentimes resulting in selling their home later under less favorable or more challenging circumstances. Downsizing sooner can help simplify your life by offloading the burden of maintaining a larger home, minimizing expenses, and moving into a residence that is more conducive to aging.
Another important aspect of downsizing is getting rid of your stuff. My grandfather never really accumulated many things, but whatever he did have he tried to give away to family or donate to charity during his lifetime. Giving away your things while you are alive can provide a tremendous sense of fulfillment and will relieve your heirs of the burden of sorting through your stuff upon your death.