9 Things Everyone Must Do Before Even Considering Retirement

7) Reduce Housing Costs

Before you leave your job, try to find ways to reduce the housing costs you’ll pay once you retire. Try to pay off as much of your mortgage as you can in the years leading up to your retirement. You can also consider downsizing for your retirement. If you do decide to downsize, it’s a good idea to buy your new house while you’re still working. It will also give you time to adjust. Moving into a new house is much easier to do when you’re working—it can be hard to get lenders to give you good interest rates when you’re on a fixed retirement income. Downsizing and paying off as much of your mortgage as you can will give you more money to spend on the activities you want to do when you’re retired.