Downsizing
Colin and Michelle Bodie love two things in life – their family, and their bright yellow MG.
The Bodies nailed their retirement dream by downsizing and pocketing the money from the sale of their home to give them financial freedom.
Share house living
A trend gaining traction in the US is the ‘shared housing’ idea or NORC (Naturally Occurring Retirement Community).
On the NSW Mid North Coast, three couples have adopted their own version of a NORC after pooling their savings to create ‘three houses in one’.
Michael and Judy Hollingworth live in one wing, Daniel and Eve Grzybowski in another and Rick and Heather Bolster in the third wing.
Judy Hollingworth says it’s working well now, but they do have a staged plan if their circumstances change.
Move overseas
Financial planner Brett Stene says retiring overseas can be cost-effective but do your research.
He says: “Currencies go up and down – your retirement funds are vulnerable. Consider health issues, what sort of care is available in the country you move to?”
Maybe it’s time to start researching those retirement dreams, so that they do come true.
