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Money and Finances
Reply to "Money advice after kids gone to college"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Definitely sell house. You have almost nothing else. [/quote] I’d hardly call $2.3 million “almost nothing.” That is about $2.15 million more than most Americans at the point of retirement. So they are doing great. Should they sell the house? It’s too big so they’ll sell eventually. Now or later? That’s the real question.[/quote] But it is NOT enough to fund living in a $4.3M home, unless they bought if for $1M. Even so, the costs associated with maintaining it, etc, they need to sell/downsize and live within their means [/quote] When you hear $4.3M, you might picture a huge mansion. It seems like you’re someone from rural America. A $4.3M house in this region doesn’t always mean it’s a large home. I don’t believe that maintenance costs are the issue. However, I do think OP should consider downsizing to free up some equity.[/quote]
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