Michael Pascoe is a familiar face to millions of Australians, having spent decades writing about finance and economics for a wide range of newspapers and providing expert commentary on the nightly TV news.
Now he is sharing his insights with Australians considering whether they should embark on the increasingly well-trodden downsizing path.
Downsizingor rightsizing is generally regarded as an older couple or individual moving outof their family home into a smaller, low-maintenance home more suitable totheir current and future lifestyle needs.
Michaelis himself a downsizer, having sold the big family home after his children moved out a few years ago and taken up residence in what he describes as a “more reasonably sized home”.
With his usual focus on financial practicality, Michael says it’s important that people treat their biggest asset – their home – as a resource and not become a captive of it.
“You can’t eat it, you can’t take holidays with it, but it can look after you by providing what you need to enjoy a comfortable lifestyle,” he said.
“In retirement, you don’t want to be constantly worrying about money so thinking about what to do with your biggest asset is very sensible.”
“While everyone’s circumstances are different, for many people downsizing can free up extra funds for other things, such as taking a trip, buying a new car or topping up your superannuation.”
Michael was recently a guest speaker at a free Principle Living ‘Crafting YourRetirement’ event in Newcastle and shared practical insights with an audience of local would-be downsizers.
He says some Australians are making the decision to downsize at a younger age, deciding what sort of lifestyle and community will suit them both now and into the future.
“Where you live now can also change around you,” Michael said. “An area that might once have been a family style neighbourhood can change to the point where you no longer feel as connected or know the people around you.”
Michael says older people can get very isolated, especially after the loss of a partner, and this can be exacerbated by the community around them changing overtime.
“Downsizing to a land lease community, a retirement village or any other smaller housing type can make sense from both a financial and lifestyle perspective, which is a winning combination in my book!”
Discover your options for downsizing to a Principle Living community here.
Michael Pascoe is a familiar face to millions of Australians, having spent decades writing about finance and economics for a wide range of newspapers and providing expert commentary on the nightly TV news.
Now he is sharing his insights with Australians considering whether they should embark on the increasingly well-trodden downsizing path.
Downsizingor rightsizing is generally regarded as an older couple or individual moving outof their family home into a smaller, low-maintenance home more suitable totheir current and future lifestyle needs.
Michaelis himself a downsizer, having sold the big family home after his children moved out a few years ago and taken up residence in what he describes as a “more reasonably sized home”.
With his usual focus on financial practicality, Michael says it’s important that people treat their biggest asset – their home – as a resource and not become a captive of it.
“You can’t eat it, you can’t take holidays with it, but it can look after you by providing what you need to enjoy a comfortable lifestyle,” he said.
“In retirement, you don’t want to be constantly worrying about money so thinking about what to do with your biggest asset is very sensible.”
“While everyone’s circumstances are different, for many people downsizing can free up extra funds for other things, such as taking a trip, buying a new car or topping up your superannuation.”
Michael was recently a guest speaker at a free Principle Living ‘Crafting YourRetirement’ event in Newcastle and shared practical insights with an audience of local would-be downsizers.
He says some Australians are making the decision to downsize at a younger age, deciding what sort of lifestyle and community will suit them both now and into the future.
“Where you live now can also change around you,” Michael said. “An area that might once have been a family style neighbourhood can change to the point where you no longer feel as connected or know the people around you.”
Michael says older people can get very isolated, especially after the loss of a partner, and this can be exacerbated by the community around them changing overtime.
“Downsizing to a land lease community, a retirement village or any other smaller housing type can make sense from both a financial and lifestyle perspective, which is a winning combination in my book!”
Discover your options for downsizing to a Principle Living community here.
Michael Pascoe is a familiar face to millions of Australians, having spent decades writing about finance and economics for a wide range of newspapers and providing expert commentary on the nightly TV news.
Now he is sharing his insights with Australians considering whether they should embark on the increasingly well-trodden downsizing path.
Downsizingor rightsizing is generally regarded as an older couple or individual moving outof their family home into a smaller, low-maintenance home more suitable totheir current and future lifestyle needs.
Michaelis himself a downsizer, having sold the big family home after his children moved out a few years ago and taken up residence in what he describes as a “more reasonably sized home”.
With his usual focus on financial practicality, Michael says it’s important that people treat their biggest asset – their home – as a resource and not become a captive of it.
“You can’t eat it, you can’t take holidays with it, but it can look after you by providing what you need to enjoy a comfortable lifestyle,” he said.
“In retirement, you don’t want to be constantly worrying about money so thinking about what to do with your biggest asset is very sensible.”
“While everyone’s circumstances are different, for many people downsizing can free up extra funds for other things, such as taking a trip, buying a new car or topping up your superannuation.”
Michael was recently a guest speaker at a free Principle Living ‘Crafting YourRetirement’ event in Newcastle and shared practical insights with an audience of local would-be downsizers.
He says some Australians are making the decision to downsize at a younger age, deciding what sort of lifestyle and community will suit them both now and into the future.
“Where you live now can also change around you,” Michael said. “An area that might once have been a family style neighbourhood can change to the point where you no longer feel as connected or know the people around you.”
Michael says older people can get very isolated, especially after the loss of a partner, and this can be exacerbated by the community around them changing overtime.
“Downsizing to a land lease community, a retirement village or any other smaller housing type can make sense from both a financial and lifestyle perspective, which is a winning combination in my book!”
Discover your options for downsizing to a Principle Living community here.
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