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June 28, 2013
The 2010 Health and Retirement Study (HRS) included questions asked of persons aged 60 plus about personal belongings.
Some of the findings: • Five percent of respondents said that they had fewer things than they needed. Thirty five percent said they had just the right amount. Sixty percent said they had more than necessary. Do you have extra stuff?
• People who had moved in last the two years reported less excess stuff. Could downsizing help pare down excess belongings?
• When asked about whether or not belongings were an impediment to moving, 48 percent said that the belongings made them reluctant to move even though they admitted to having too many things.
The University of Kansas Gerentology Center has additional research as well as advice about downsizing possessions in later life.
Considering Downsizing? Have You Thought About Using a Reverse Mortgage to Purchase a Home? Talk to a Lender About a Reverse Mortgage for Purchase!
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