“Empty Nesters” are generally defined as home owners over the age of 50 whose children no longer live at home with them. For many, this is the time in their lives when they are trying to figure out their retirement goals and objectives. The questions they face run the gamut from real estate issues, to tax questions and retirement specifics.
Set forth below is our attempt to help with the process. The primary thing that each Empty Nester needs to do for themselves is figure out what they want to do in terms of where to live on a going forward basis. If they are going to stay where they are that is one situation. If they are going to move to a smaller home, then they need to decide where the smaller home will be located. For most people who move to new area many real estate professionals advise folks to rent for a period of time until they really understand the new location.
The next issues relate to the ability to live for the rest of their lives off the money they have available to them plus social security. In addition, they may have pension plans that will provide them with cash flow for the future.
Next, the process comes full circle for most when they deal with the items relating to assisted living retirement homes and end of life decisions.
Here are a list of helpful questions and resources for finding answers: