From Lifestyle to Legacy
Today’s segment, Marilyn, comes from a revelation I had about aging. Yes, we are all getting older - as the old joke goes, it sure beats the alternative! - but aging doesn’t look the same for different people, nor does it look the same for the same person as time goes on.
This is the idea behind “concierge real estate services.” Depending on the person, and their age and stage, their needs and drivers are going to be different, and evolving.
Think for example of the newly retired empty nester. So much of their energy has gone into preparing for the financial realities of retirement that they might lose sight of the new lifestyle they can enjoy. Their primary need is to be assured that they won’t outlive their money. Running out of money is a big fear for this young senior.
By downsizing their homes and judiciously investing their money, these active 60 and 70 year olds can finally access the equity they’ve been accumulating in their homes, and turn “bricks and mortar” into cruises and golfing. The years of working are finally bearing fruit in the lifestyle and freedom of care-free home ownership by moving from the big family home to a more affordable condo.
In my experience, these young seniors need their Realtor to understand what this lifestyle choice looks like, to explain the process, and empower their decision making. Since there's no real hurry to make a move, they can take their time to view a wide variety of condo properties, and gradually narrow down their selection by area, size, price and amenities. Only when they’ve found the perfect next property will they consider downsizing.
However, as we age our focus shifts from lifestyle to legacy. By our 80s or 90s it’s clear that we don’t need to worry about outliving our money, and that we will actually be leaving an estate behind. At this more “senior senior” stage, there is a lot about the aging process we can’t control. Nevertheless, losing autonomy is a great fear for this cohort. Our thoughts turn to how we will be remembered, and pursuing a lifestyle takes a back seat to investing in the relationships and causes that matter most.
My older clients need more of a helping hand with the logistics and physical labour of making a move. Whether to a condo or retirement community, the move can seem more daunting than in previous years. They need a Realtor who will take the care and concern off their shoulders while respecting that they are still very much in the driver's seat.
Downsizing your property can help you achieve the freedom to make the most of your golden years no matter your “age and stage”. It unlocks more time, money and opportunities that can enhance your retirement lifestyle and set up a meaningful legacy.
The best part is that it’s not a process you have to do on your own. At SMART Realty Solutions we have already interviewed and vetted the best professionals to assist you in all aspects of preparing, presenting and promoting your property.
If you’re wondering whether downsizing makes sense for you, please request a copy of our free guide, “Get Ready to Downsize.” It will help you catch a vision of what downsizing can do for you, how to create a personal plan that includes your values, your motivations and property options that you might not have considered.
“Get Ready to Downsize” is available by calling me, Sharon, at 416-460-5636 or by visiting our website smartrealtysolution.com. Like everything at SMART Realty Solutions this is absolutely free of cost or obligation. All our free downloadable content originates from the lived experiences of our clients. We’ve helped hundreds of seniors just like you take the next step to health, wellness, lifestyle and financial freedom with custom made solutions.
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