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Carrick on money: Retirees, downsize your home sooner than later

Men work on the roof of a home on Markham Street in the Bathurst and Dundas area of Toronto on May 9, 2011. (Photo by Peter Power/The Globe and Mail)

PETER POWER/THE GLOBE AND MAIL

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

The time to downsize your home is sooner rather than later
Houses cost a lot to maintain, which is why this Wall Street Journal article suggests people downsize early rather than later after retirement. Keeping your house so your kids and grandchildren have somewhere to stay? It might be cheaper to put them up in a hotel.

A call for people to discuss their housing situation in retirement with their financial adviser. For example, the transition from the family home to a retirement home and then a long-term care facility.

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Withdrawal strategies for RRSPs
A look at some different approaches to taking money out of registered retirement savings plans.

You've made huge gains in a stock – can you handle it?
Even big wins in the stock market can be nerve-wracking.

More money
Join the 35,000+ people who subscribe to my Facebook personal finance community for talk about investing, retirement, real estate, banking and other financial matters. I'm also on Twitter.

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About the Author
Personal Finance Columnist

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998. Rob's personal finance columns appear in The Globe on Tuesday and Thursday, and his Portfolio Strategy column for investors appears on Saturday. More

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