Retirement Redefined.

By
Real Estate Broker/Owner with BROKER of Green Realty Properties® - 954-667-7253 BK3175566

Lynn Bartlett of Bartlett Financial Services, a local financial planner, wrote a very relevant article about how retirement will be very different going forward than it was fo previous generations. We live longer, have fewer sources of income, and will have increased medical and living expenses. Many people will be forced to delay their retirement, or at least keep a part time job. Over the course of the next generation, the average age of retirement may shift to as much as 10 years.

Appropriately enough, she mentioned the fall in home values playing a role in changes in retirement plans. In the past, when it came to downsizing, retirees would make a sizeable profit from the sale of their home and use that as part of their retirement fund. Once the real estate bubble burst, that was no longer a good option for many future retirees.

I wish things weren't so hard on people once they inch closer to their retirements. I hope that it won't be so rough for future generations, but I think we have to change our expectations and get ready for a new norm.



Posted by

If you or anyone you know need help Selling or Buying a Home in Broward & Miami-Dade Counties, please don't hesitate to call me at 954.667.7253

 

Help lots of people and have a great day!

Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC, RSPS

BROKER - REALTOR® Serving South Florida ::: 954. 667. SALE (7253) ::: Green Realty Properties®

Visit www.WeLoveSouthFlorida.com for SouthEast Florida's best properties.

 

 

Copyright © 2008 - 2014 By Patty Da Silva, CDPE©. All Rights Reserved.

Legal Stuff: This article (Contents) reflects the opinion of the author and it is not to be considered legal advice. The author is not an attorney or a CPA. If you are in need of legal or tax advice, it is recommended that you to contact a trusted professional advisor.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the camera to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Selling
Location:
Florida Broward County
Groups:
BananaTude
"Whacked"!!!
Advice for Sellers
The Art Of Marketing You
The Lounge at Active Rain
Tags:
patty da silva
retirement
seniors

Comments 9 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
341,796
Dan Brudnok
REALTOR,e-PRO,ABR,GREEN,SRES,CSP
Keller Williams RE- Exton - PA License Number #RS225179L

Hi PAtty,

What we thought we would have has certainly change drastically for many.

October 30, 2012 07:18 AM
Ambassador
1,436,400
Kathy Streib
Home Stager - Palm Beach County,FL -561-914-6224
Room Service Home Staging

Patty= a good one!  A changing housing market; older adults relocating because of the job market and not building up the equity that they used to; having to work longer; rising medical costs... it's not our grandparents or our parents' retirement any more!

Featured in Bananatude

Bananatude

October 30, 2012 08:03 AM
Ambassador
1,082,788
Bryan Robertson
Broker, Author, Speaker
Catarra Real Estate, Inc

We are all definitely living longer and retirement isn't what is used to be.  When social security started people expected to live about 5-10 years past retirement.  These days it's easy to live 20-30 years past retirement.  It would be great if people could work longer and build up more money for retirement rather than relying on home equity.

October 30, 2012 08:59 AM
Rainer
277,179
Steven Cook
- Pierce, King, Kitsap, Thurston, Mason Counties
No Longer Processing Mortgages.

Patty - a good reminder for us all.  Bryan has is mostly right -- the other thing one should remember is that when Social Security was still young, there were about 9 workers for each person drawing Soc. Sec. - and now we are nearing only 2 workers per Soc. Sec. recipient, and the projections are that it will be at that level for many years to come.

October 30, 2012 10:40 AM
Rainmaker
1,673,665
Lou Ludwig
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO
Ludwig & Associates

Patty

When and how people has changed forever, and we are quickly moving into muilti generational housing.

Good luck and success.

Lou Ludwig

October 30, 2012 05:26 PM
Ambassador
1,234,912
Kathleen Daniels
San Jose Homes for Sale - Probate Specialist
KD Realty - 408.972.1822

Patty,  A new norm indeed!  Retirement age will need to change if people don't manage spending and investing.  401K plans won't see big growth if invested in the stock market.  Equity in a home would be considered gravy ... not to be relied upon. There is a big shift taking place ... our children may live to see the results of the shift. 

October 30, 2012 08:13 PM
Rainmaker
882,299
Jane Peters
Connecting you to the L.A. real estate scene
Power Brokers Int'l

Of course there are those that bought way before we knew what a bubble was.  But retirement.  What is that?

October 31, 2012 03:29 PM
Rainmaker
565,341
Kathy Sheehan
Branch Manager
Movement Mortgage 770-634-4021

I don't see my retirement anytime in the near future.... now, back to work!

October 31, 2012 04:19 PM
Rainmaker
443,246
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
Top Listing Broker
BROKER of Green Realty Properties® - 954-667-7253

 

Dan, for sure. Scary.

Kathy, definitely not, and we see it 1st hand down here in  S FL. Thank you!

Bryan, we have to start doing that. Our mindset just needs to change.

Steven, wow that’s a crazy stat.

Lou, I guess we’re becoming more European in that way….grandparents and older children living with you.

Kathleen, it’s all a cycle. Our children may see the shift and a few generations down they’ll see another shift. It’s crazy to think that far ahead.

Jane, I beliiiiiieve that’s when you stop working? I think I’d be bored out of my mind.

Kathy, back to work! LOL

November 01, 2012 08:09 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the computer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
443,246

Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR

Top Listing Broker
Call me to list your home today - 954-667-7253
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the balloons to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

462155
\"'\" I have known many a realtor, some who are very close friends, but when it comes to my real estate transactions, the first (and only) person I call is ... more \"'\"
5.0/5.0
by user7387387
458622
\"'\" Patty and Chris are the best Realty team in the South Fl. market!!! They are really helping their clients with their personal attention and ... more \"'\"
5.0/5.0
by user28761998
437338
\"'\" \"Don't go anywhere else!!! This is it! Patty is the equivalent of the Michael Jordan of real estate. If you want your deal closed as fast as its ... more \"'\"
5.0/5.0
by VanessaDias
" style="overflow:hidden;" seamless scrolling="no" id="custom-widget-content" onload="resizeIframe()">Your browser does not support iframe.