‘Look At What You Have, Not At What You Had’

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When Anita, 68, sold her home in 2022, she thought she was making a smart financial decision. At that time, the high interest rates and housing market fears made the sale look like a safe step. But after three years, she pays the rent more than ever in exchange for her mortgage-which guesses her second choice.

In a modern episode of podcast “Women and Money”, Suz Orman She replied to Anita’s story with the advice that many retirees may find it related: “Look at what you have, not on what you have.”

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Anita sold her home during the uncertainty period. She lost her partner four years ago and was trying to do what she thought was right, given the economic climate. But Orman indicated that the main financial decisions during sadness periods often unfortunately lead.

Orman said: “For this reason, I always say to everyone that you do nothing but to remain safe and sound for at least six months to one year, preferably for two years, after you suffer from the loss of a member of his family.”

By selling the house, Anita found herself stuck in a difficult rental market – and is now considering re -introducing home ownership in California or Washington State.

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While Anita was lured to buy again, Orman warned her of retreating. Just because rental now costs more than just a previous mortgage, it does not mean that the purchase is a better movement.

Orman said: “Can you bear the costs of rent? Because trust me, the rent has its advantages as well,” said Orman. “When something is broken … you don’t have to fix anything.”

Orman reminded the listeners at the age of 68, it is important to think about more than just dollars and cent. Lifestyle, comfort, and risks all play a role. Owning a house with responsibilities – maintenance, property taxes, and insurance – these costs have increased dramatically since Anita owned a house.