[Photo Courtesy: imgarcade.com] over50

[Photo Courtesy: imgarcade.com]

If you are in the “pre-retirement” or “early retirement” phase of your life, chances are you are trying to make a decision about housing and where to live. Housing is usually the largest item in the budget, therefore the “housing” decision will impact how long your retirement nest egg lasts. With low interest rates, it may or may not make sense to buy a home. To reduce expenses and the time/effort to maintain a home, it may make sense to rent. The U.S. tax code favors homeowners. To learn more about the rent vs buy decision and tax implications, click here. Realtor.com has a neat “Rent vs Buy” calculator widget. You enter the zip code, desired monthly rent, desired home price, and how long you plan to live in the home. The calculator will tell you whether it’s cheaper to rent or buy! To give it a try, enter your numbers below.

If you are over 50, and you are trying to make the buy vs rent decision, please share your concerns by joining us at The Fifty Plus Network:

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