Renting in Retirement: The “Smart Money” Choice Nobody Wants to Admit

Comments · 4K

• RE

  @retroballer7166 · 2 months ago · pinned

  I am a financial advisor with 30+ years experience and have been telling many clients to rent for a very long time. It has worked out unbelievably well financially for 100% of those that took the advice. I am not seeking to validate the person who made this video in any way whatsoever other than it came up on my feed and I validate the idea which is extremely against the grain and exactly the right thing to do for a large % of people. The myth of real estate is built on so many faulty misconceptions. I guess I applaud the concept and for shining a light on it.

  129

• AU

  @Australian_Lady · 6 months ago

  Renting—"It's not a downgrade, it's s design choice." That's a great statement.

  1K

• SA

  @Sam-s9w3p · 6 months ago

  After the age of 60-BUILDING WEALTH is not a priority for most people. LIVE and ENJOY becomes a priority.

  708

• VA

  @valeriemason9615 · 5 months ago

  Renting vs owning in retirement is a very personal decision based each person's individual situation. :)

  263

• DE

  @deniseorr4718 · 6 months ago

  I love walking into my apartment and not thinking about cutting grass, shoveling snow or raking  leaves.

  542

• FI

  @fiorellageno3797 · 6 months ago

  Being single without children I found more freedom after selling my house and renting. The cash cushion gained after selling house also gave me mental relief from the stress of maintaining a house.

  341

• BR

  @brad9559-j5l · 6 months ago

  I'm 70 this year. For the past ten years I've been so genuinely happy being a renter for the reasons Michelle cited. As for 'building equity' ?  I've successfully invested the money I saved each month by renting, and I now have a nest-egg that I can label as 'equity'.  And the best part --I don't have to paint it, insure it, maintain it .

  221

• EM

  @EmilyFoxSeaton · 6 months ago

  I am scared of renting for three reasons: 1. insane rent increases, 2. Bad neighbors with thin walls and 3. inability to have pets.

  1.1K

• US

  @user-ei8rb7sj6c · 6 months ago

  This is long but I just have to share my experience…<br><br>I’m a retired older woman who’s lived in an apartment complex for the last 8 years. <br><br>Financially, my rent has gone up every other year, but I figure it’s no more than I’d pay in higher HO property taxes, insurance, and continual maintenance if I still owned my home.<br><br>Well meaning friends (all married couples) tell me and send me videos about how much better it is to own than rent. The thing is, they don’t take into account the relief and peace of mind that comes with not having to be responsible for the yard, home repairs (ie, roof, fallen trees), and/or major appliance replacement.<br><br>Where I live, the maintenance team repairs or replaces things in a reasonable amount of time. For instance, when my hot water recently went out, a new one was installed the next day. When my garage door opener went out, a new one was ordered and installed within three days. Heck, they even change light bulbs so I don’t have to climb a step-ladder. <br><br>The grounds grass, trees and flowers are beautifully and professionally landscaped, and the two pools and amenities are beautifully kept. <br><br>I chose a ground floor apartment with an attached garage, which adds another layer of value and peace of mind. I just drive in, close the door, walk in my back door and I’m safely home sweet home. <br><br>Plus, the garage is large enough for not only my SUV, but also shelving units on either side and in front of the car. I store boxes and tubs of seasonal things, household items, and other sentimental things I haven’t yet sorted through. I have a nice big storage cabinet for my overflow pots, pans, serve-ware, paper goods, etc. <br><br>I estimate It would cost $50-100 a month for an off-site storage unit, and it wouldn’t be nearly as convenient!<br><br>Nearly everyone here has pets, and I enjoy seeing them on their daily walks. If I’m outside, it’s not unusual for them to wave, stop, and/or say hello which I enjoy. <br><br>Younger neighbors have kindly offered to help move bulky, heavy items which I greatly appreciate (and reward😉). <br><br>Last, I’m 5-15 minutes from my church, shopping, restaurants, cultural activities, downtown, university, and historical district. <br><br>Is it perfect? No, but neither is home ownership. I’m happy with my choice, and hope my comments will help others who are trying to decide what’s right for them. God bless!

  557

• LE

  @lenoxlenox9447 · 5 months ago

  When you rent and over 70 years old you don’t have to worry about fixing the pipes, replacing the gutters, dealing with plumbing….

  249

• AZ

  @azvwbaja · 6 months ago

  I live in a 17 foot cargo trailer on public lands rent free with fellow campers. Love my lifestyle.

  216

• IT

  @itsJPnotMorgan · 6 months ago

  Home ownership vs renting is a lifestyle choice and there are great arguments for and against each. There is no right answer that applies to all. Everyone needs to crunch their own numbers and determine their Personal objectives. Travel, freedom, security, stability - all different for each person.

  280