Ep 74: This One’s On The House

What kind of decisions do you need to make when it comes to your home in retirement? Sean talks through several scenarios people tend to consider when it comes to their house.

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The View From The Pinnacle

What kind of decisions do you need to make when it comes to your home in retirement? Sean talks through several scenarios people tend to consider when it comes to their house.

Click the timestamps below to fast forward to certain points of the episode.

Thing’s You’ll Learn Along Today’s Journey

How should you handle your house as a financial asset? More than a house, it’s your home, but how can you make wise financial decisions about your house? On today’s show, we talk about five different scenarios you might face when it comes to your house in retirement.

As the kids move out and you retire, you may be tempted to sell the house and downsize. Should you? Consider if you need the space you have. You may have a lot of sentimentality in your home. But you might also have a lot of upkeep to manage between the home and the yard that takes time, energy, and effort. Do you want to keep that up or is it time to make an adjustment?

If you have the money to pay off the house, is that the right choice financially? Some of Sean’s clients never want to pay off the house while others are eager to pay it off as fast as possible. Both sides are right, you just have to do what’s good for you.  

When you retire, you might want to finally buy that vacation house you’ve always wanted. How should you pay for it? Do you take money out of your 401(k) and IRA or have two mortgages? Have you been thinking of moving out of state? It’s important to understand the nuance of what it takes to own a home somewhere else or what it means to move.

You may even be considering a retirement community. Some of them are age-in-place communities that transition into assisted living as needed. A lot of these decisions may come down to cost. There could be rent or a big lump sum payment that you need to factor into your decision. Ultimately, can you plan to handle that financially? Reach out to your financial advisor to see what makes sense and make sure your plan and your goals align.  

Listen to the entire episode or skip ahead using the timestamps below.

0:39 – How’s everything been?

1:28 – Feeling ready to downsize?

4:23 – Should you pay off the house?

6:22 – Thinking about a vacation home?

8:22 – Wondering about moving out of state?

10:20 – What are the perks of a retirement community?


Looking Back From The Mountaintop

“I want people in retirement to live their lives and to be comfortable and have fun and do the things they want to do. As long as your plan can handle doing those things, I’m all for it.”

-Sean Lee

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For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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