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The devastating way Shannen Doherty is preparing for death

<p>Shannen Doherty has shared the heart-breaking way she is preparing for her death. </p> <p>The former actress, who is battling stage 4 breast cancer, has candidly shared how she is cleaning out her home and downsizing her possessions to make for an “easier transition” for her mum, Rosa, when she dies.</p> <p>“My priority at the moment is my mum,” the actress said during an episode of her <em><a href="https://podcasts.apple.com/us/podcast/lets-be-clear-with-shannen-doherty/id1718531401" target="_blank" rel="noopener">Let’s Be Clear</a></em><a href="https://podcasts.apple.com/us/podcast/lets-be-clear-with-shannen-doherty/id1718531401" target="_blank" rel="noopener"> podcast</a>. “I know it’s going to be hard on her if I pass away before her.”</p> <p>She continued, “Because it’s going to be so hard on her, I want other things to be a lot easier. I don’t want her to have a bunch of stuff to deal with. I don’t want her to have four storage units filled with furniture.”</p> <p>The 52-year-old explained that over the years, she started going through her belongings to get rid of unnecessary clutter and donate things "just in case" anything happened to her. </p> <p>The actress most recently made a trip to her Tennessee home to pack up her belongings after she decided to let go of her dream of living on the property and fostering horses.</p> <p>“So we were in Tennessee and I was packing up one of the places there,” she continued. “It was really hard and really emotional because to a certain extent — I felt like I was giving up on this dream of building this property out, and putting a house for me and a house for my mum and then extending the barn.”</p> <p>“That was one of my dreams,” she said while tearing up.</p> <p>“I was packing up and I started crying … I felt like I was giving up on a dream and what did that mean for me? Did it mean that I was giving up on life? Did it mean that I was throwing in the towel?"</p> <p>“And my mom was there and she was like, ‘Don’t get rid of this place, it’s fine. You don’t have to and you can keep going.’ I said, ‘Yeah, absolutely I can.’”</p> <p>A week later, Doherty returned to the home to pack everything up and relocate her belongings to her home in California. </p> <p>The actress explained that letting go of the property and other possessions helps “leave behind a cleaner, easier transition” for her family.</p> <p>Through the process, Doherty has learned her belongings don’t bring her as much joy as making memories with her mum and loved ones.</p> <p>“It allows me to take more trips because I’m making money, I’m selling it,” she continued. “Then I get to build different memories and I build memories with the people that I love.</p> <p>“I get to take my mum on vacations because I have all this extra play money lying around and I’m not digging into the money that’s in my estate that’s going to make sure that everybody in my life is taken care of once I’m dead.”</p> <p><em>Image credits: Instagram / Getty Images </em></p>

Caring

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Downsizing cost trap awaits retirees – five reasons to be wary

<p><em><a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a></em></p> <p>It’s time to debunk the myth of zero housing costs in retirement if we want to understand why retirees resist downsizing. Retirees have at least five reasons to be wary of the costs of downsizing.</p> <p>Retirees living in middle-ring suburbs face frequent calls to downsize into apartments to free up larger allotments in these suburbs for redevelopment. Retirees who fail to downsize into smaller units and apartments are viewed as being a greedy, baby-boomer elite, stealing financial security from younger generations.</p> <p>It also makes sense to policymakers for retirees to move into less spacious accommodation and make way for high-density housing. Housing think-tank AHURI <a href="http://www.ahuri.edu.au/__data/assets/pdf_file/0021/14079/AHURI_Final_Report_No_286_Australian-demographic-trends-and-implications-for-housing-assistance-programs.pdf">fosters this view</a>. Yet seniors remain resistant to moving, in part because of the ongoing costs they would face.</p> <p>The concept of zero housing costs in retirement is based on a 1940s view of a well-maintained, single dwelling on a single allotment of land where the mortgage has been paid off. This concept is incompatible with medium- and high-density housing and refusing to acknowledge ongoing housing costs may cause significant poverty for retirees.</p> <h2>Reason 1 – upfront moving costs are high</h2> <p>When a house is sold the owner receives the sale funds minus the real estate and legal fees. When the same person then buys a different property to live in, they pay legal fees plus stamp duty.</p> <p>For cities such as Melbourne and Sydney, these costs are likely to exceed A$70,000.</p> <p>These high transfer costs may mean it is not cost-effective <a href="https://theconversation.com/why-older-australians-dont-downsize-and-the-limits-to-what-the-government-can-do-about-it-76931">for the person to move</a>.</p> <h2>Reason 2 – levies are high</h2> <p>Because apartment owners pay body corporate levies, people often assume this is just the same as periodic payment of rates, water, insurance and other costs. It is not.</p> <p>Fees remissions for low-income retirees for rates, power, insurance and water are difficult to apply within a body corporate environment. As a consequence, these are usually not applied to owners of apartments.</p> <p>The costs of maintaining essential services, such as mandatory fire-alarm testing, yearly engineering certification, lift and air-conditioning inspections, significantly increase ownership costs.</p> <p>When additional services are supplied, such as swimming pools, gyms and rooftop gardens, these also require periodic inspections. Garbage collection, cleaning, gardening, concierge and strata management services also <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&amp;eprintid=23322">must be paid</a>.</p> <p>Owners of standard suburban homes choose whether they want these services, with those on fixed incomes going without them.</p> <p>Annual levies for apartment buildings vary, but expect to pay between $10,000 and $15,000. They <a href="https://www.strata.community/understandingstrata/faqs">may be more than this</a>.</p> <h2>Reason 3 – costs of maintenance</h2> <figure class="align-right "><figcaption></figcaption></figure> <p>Apartments are often sold as a maintenance-free solution for older people. The maintenance is not free. It needs to be paid for.</p> <p>Maintenance costs are higher in an apartment than a standard suburban home because there are more items and services to be maintained and fixed. Lifts and air conditioning need periodic servicing and fixing. This is in addition to the mandatory inspections listed above.</p> <h2>Reason 4 – loss of financial security</h2> <p>It is a mistaken belief that the maintenance costs that form part of the body corporate fee include periodic property upgrades. This relates to items that are owned collectively with other apartment owners.</p> <p>Major servicing at the ten-year mark and usually each five-to-seven years after that include painting, floor-covering replacement, and lift and air-conditioning repair or replacement.</p> <p>Major upgrades may also include garden redesign or other external building enhancement including <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&amp;eprintid=23315">environmental upgrades</a>. All owners share these upgrade costs.</p> <p>Costs of upgrading the inside of an apartment (a bathroom disability upgrade, for example) are additional again.</p> <p>Once the body corporate committee members pledge funds towards an upgrade, all owners are required to raise their share of the funds, whether they can afford it or not. Communal choice outweighs an individual owner’s need to delay upgrade costs.</p> <p>Owners who buy apartments that are part of a body corporate effectively lose control of their future financial decisions.</p> <h2>Reason 5 – loss of security of tenure</h2> <p>Loss of security of tenure is usually associated with renters. However, the recent introduction of <a href="http://www.lpi.nsw.gov.au/__data/assets/pdf_file/0009/25965/Termination_of_a_strata_scheme_by_RG.pdf">termination legislation</a> in New South Wales gives other owners the right to vote to terminate a strata title scheme. When this occurs, all owners, including reluctant owners of apartments within that scheme, are compelled to sell.</p> <p>There are valid reasons why termination legislation is desirable, as many older apartment complexes are reaching the end of their useful life.</p> <p>Even so, as termination legislation is rolled out across the states, owner- occupiers effectively lose control of how long they will own a property for. They no longer have security of tenure, which means retirees may face an uncertain housing future in their old age.</p> <h2>Downsizing raises poverty risks</h2> <p>Because current data sets do not adequately take account of ongoing costs associated with apartment living, the effect of downsizing on individual households is masked.</p> <p>Downsizing retirees into the apartment sector creates ongoing financial stress for older people. Creating <a href="https://theconversation.com/it-will-take-more-than-piecemeal-reforms-to-convince-older-australians-to-downsize-51043">tax incentives to move</a> does not tackle these ongoing costs.</p> <p>Centrelink payments for of <a href="https://www.humanservices.gov.au/customer/services/centrelink/age-pension">$404 per week</a> are well below <a href="http://acoss.wpengine.com/poverty-2/">the poverty line</a>. Yet we expect retirees to willingly downsize and to be able to cede most of their Centrelink payments to cover high body corporate costs.</p> <p>Requiring retirees to downsize for the greater urban good will shift poverty onto retirees who could barely manage in their previously owned standard suburban home.</p> <p>Failing to understand the effect of high ongoing costs associated with apartment living and reinforcing the myth of zero housing costs in retirement will continue to lead to poor policy outcomes.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/80895/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /></p> <p><a href="https://theconversation.com/profiles/erika-altmann-361218"><em>Erika Altmann</em></a><em>, Property and Housing Management Researcher, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/downsizing-cost-trap-awaits-retirees-five-reasons-to-be-wary-80895">original article</a>.</em></p>

Retirement Income

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How to downsize without leaving the suburb you love

<p>If you find yourself rattling around in a home that now has too many rooms to clean, and you’d prefer to spend more time doing things you love rather than household chores, it might be time to downsize. Not only can downsizing your property simplify your lifestyle, it has the potential to free up some funds as well. If you manage your ‘empty nester’ status well, it can become a profitable nest egg!</p> <p>But downsizing to a smaller home can be a daunting process. You may not be ready for the close proximity of a retirement village, nor are you keen to leave the neighbourhood you love. You have great neighbours, you’re close to family, and you have all the amenities you want nearby, but your house just doesn’t suit your lifestyle anymore.</p> <p>So, what are your options? There are in fact a couple of great alternatives to packing up and leaving everything you’ve known behind: building a dual occupancy home or a knockdown rebuild on your existing block of land.</p> <p><strong>What is a dual occupancy development?</strong></p> <p>A dual occupancy home design, also known as a ‘duplex’ or ‘multi-dwelling’, can come in a variety of layouts: either two attached dwellings side by side, where both properties have street frontage, or one behind the other, where there’s a driveway down one side of the property. A dual occupancy home is a great consideration for those who:</p> <ul> <li>Want to remain in the same area but don’t need as big a house.</li> <li>Want a low maintenance lifestyle.</li> <li>Have a large block in an area where land prices are increasing.</li> <li>Want to realise some of the equity in the land.</li> <li>Want to create an ongoing income stream through an investment property.</li> </ul> <p><strong>Unlocking wealth with a dual occupancy home design</strong></p> <p>The Australian property boom has made many people many millions. But the fact is that the wealth lies in the land not in the dwellings themselves. Many people who have owned a slice of the Aussie Dream for more than 10-15 years are sitting on potential gold, however all their equity is tied up in the land beneath their house. For empty nesters that are ready to downsize, this offers enormous opportunity.</p> <p>It’s no surprise that dual occupancy house designs are increasing in popularity. There are a number of ways you can capitalise on this opportunity:</p> <ul> <li>Live in one house and sell the other.</li> <li>Live in one house, then rent the other one. This provides a potential income stream and is particularly great if your property is in an area where rental supply is low.</li> <li>Sell both houses and live somewhere else. This option works well in areas where housing stock is low and demand is high – and when you’re prepared to find somewhere else to live!</li> </ul> <p>There are some design limitations when it comes to building a dual occupancy home due to the somewhat restricted footprint, and a number of things to consider such as the size of your block, street frontage, driveways and council approvals. Thankfully however, experienced homebuilders such as Metricon have the expertise and know-how to provide you the guidance you need to make the most of your asset.</p> <p><strong>Knockdown rebuild – build a brand-new home, wherever suits your lifestyle</strong></p> <p>“Don’t move your life, improve your life!” is a fitting motto for those looking to take advantage of their great location by building a more suitable home for their life stage. If you really love where you live but your home just isn’t right for you any more, then there are two likely options: a renovation or a knockdown rebuild.</p> <p>A knockdown rebuild is especially a great option when you are looking to downsize – such as replacing your double storey home with a more suitable single storey option. Perhaps you are weighing up the option of moving but also hoping to build new. Let’s explore your options.</p> <p><strong>To renovate or rebuild?</strong></p> <p>Before jumping on the renovation bandwagon, assuming it is an easier option, there are a few factors to consider that may ultimately influence your decision. These can include: the extent of your renovation, the comparable costs between renovating and rebuilding, and the expected increase in value of your property. Other factors such as the condition of your home (some old homes can’t cope with structural changes), and ongoing expense (a new home is typically cheaper to maintain than an older home), may preclude you from renovating.</p> <p>Renovating can often result in unforeseen cost blowouts and uncover previously hidden or undiscovered faults. There’s also the hassle of shifting furniture, isolating rooms, living in only part of your home or moving out completely during the renovation. A knockdown rebuild however, may be easier and deliver a more satisfying result than you think: a brand-new home where everything is clean and reliable, in a floorplan that matches your desired lifestyle perfectly.</p> <p><strong>Re-locating and building new</strong></p> <p>If you’re looking for a complete lifestyle change when downsizing, perhaps weighing up the options of a sea or tree change, you can have the best of both worlds and build your dream home to perfectly suit your new location. </p> <p><em>Images: Getty</em></p>

Downsizing

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8 tips that will help you downsize in retirement

<p>Downsizing can help make life more manageable in retirement, but it can also be quite the chore, requiring a lot of research, planning and preparation. We’ve taken a look at eight simple things you can do to help navigate this complicated process and downsize in retirement without the stress.</p> <p><strong>1. Take inventory</strong></p> <p>How can you know what you need to get rid of if you don’t even truly know what you own? Be as specific as you need to when taking inventory. You’ll probably be surprised to find out how long your list of possessions has become, which in and off itself might make it easier to jettison some things.</p> <p><strong>2. Designate a starting point</strong></p> <p>The hardest part is getting started, and when you do so it’s important to not have a scattershot approach. Make a list with a designated starting point and focus your attention on one area. A focussed, dedicated approach is crucial in terms of getting started and building up momentum.</p> <p><strong>3. Trash, sell and give away</strong></p> <p>Don’t be afraid to say goodbye to stuff you don’t need. This could be quite profitable if there’s anything you own that you can sell, and if you can’t bear to throw that old sundress in the trash consider giving it to one of your girlfriends or even your granddaughter as a gift.</p> <p><strong>4. Perform 6 month test</strong></p> <p>A great way to separate items that you may use from items that you definitely don’t need is applying the “6 month test” which is asking yourself whether you’ve used it in the last six months. If you haven’t, then odds are this is the sort of item that can be jettisoned without too much heartache.</p> <p><strong>5. Hanger trick</strong></p> <p>The hanger trick is a good way to get rid of clothing you don’t need. Hang every item in your closet backwards and wait a period of time (3, 6 or 12 months) then when you come back and check, throw out any items that haven’t been turned back because that means you haven’t used them.</p> <p><strong>6. Set timer</strong></p> <p>The entire downsizing process can be overwhelming, so instead of trying to tackle it in one big chunk break it down into manageable portions of 45 minutes. There’s no rush and as long as you keep at it over a period of time we think you will eventually find that you have made some real headway.</p> <p><strong>7. Scan paper then shred it</strong></p> <p>If you’ve got any paper items that you don’t necessarily need but would like to hang onto don’t be afraid to commit them to the paper shredder. The first thing you should do though is scan them. This way they’re preserved forever and you can always print them out if you need them again.</p> <p><strong>8. Decluttering party</strong></p> <p>Downsizing can be a pretty lonely task as well, so why not call a few friends to make the process more enjoyable! Having friends help you through your old possessions is always nice and can help you say goodbye to some of the more sentimental items you’re getting rid of.</p> <p><em>Images: Getty</em></p>

Home Hints & Tips

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6 questions you must ask yourself before downsizing

<p>For many people, retirement is the time to downsize from the family home to a smaller dwelling. It’s a big decision so before you take the plunge, first ask yourself these six questions to ensure you make an informed choice.</p> <p><strong>1. How much will I save moving to a smaller home?</strong></p> <p>A big reason to downsize is to save money, but you might not always save as much as you think when you really drilldown into the costs. Carefully compare the costs of your potential new dwelling with how much you’re spending now. Consider everything including the price of the house, maintenance, utilities, transport, entertainment and food.</p> <p><strong>2. Will the new neighbourhood fit my lifestyle needs?</strong></p> <p>When people retire their needs change; they no longer need to live in an area close to work or near good schools, for example. With this new change, you will have to work out what your new needs might be, and take that into consideration when looking for a place. Downsizing isn’t just about the house but the type of neighbourhood you want to live in.</p> <p><strong>3. How much longer will I be able to maintain my current home?</strong></p> <p>As you age, you might find that you’re not able to maintain a big house with a big garden as well as you once did. If those little maintenance projects are taking much longer than usual, it could be time to downsize. A house takes very little time to fall into disrepair, which means the property loses vales. It’s a smart idea to sell a house when you are able to make it looks its best.</p> <p><strong>4. What will I bring with me and what will I lose?</strong></p> <p>The reality of a smaller place is that there will be less space to put your things. For many people, the hardest part of downsizing is decluttering, so do the mental preparation of deciding what you’re going to bin (or give to charities) before you actually move – otherwise you might end up bringing too much with you. You will have to make some tough, sometimes emotional, decisions but don’t let your “things” hold you back from moving forward.</p> <p><strong>5. How is your health and your partner’s health?</strong></p> <p>It’s always best to move when you’re fit and able rather than being forced to by circumstances later down the track. And even though you’re healthy now, you need to consider your future health needs when deciding on a new home. Will you always be able to navigate the stairs or mow the lawn? Is the place close to medical care? Is the neighbourhood senior-friendly? These are just a few questions to think through.</p> <p><strong>6. How close will family and friends be?</strong></p> <p>As people age, it’s common for social circles to shrink so in retirement, it’s more important than ever to keep socially active. Therefore, it’s crucial to factor in social connections and activities into your move. How close will family and friends be from your new place? Does your new neighbourhood have activities for retirees? Are there opportunities to make new friends and discover new activities? While retirement planning mostly focuses on finances, your emotional and social needs are just as important and should be carefully considered.</p> <p><em>Image credits: Getty Images</em></p>

Home Hints & Tips

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5 key things you need to consider before downsizing

<p dir="ltr">Retirement is a time of change, and it can be a change of address too. Many pre-retirees consider making a sea change or a tree change and make the decision to move into a property that better meets their changing lifestyle needs. Often the move is out of a larger family home into a smaller house, an apartment, or a retirement village. Of course it doesn’t need to be a change of suburb, it might be something smaller in the same area. Like all decisions, your own goals about moving homes should be front and centre.</p> <p dir="ltr">There is a financial planning opportunity associated with a decision like this and it’s one that many Australians are making. It’s called the downsizing contribution strategy and it allows you to use superannuation to help you fund your retirement lifestyle using proceeds from the property sale. The good news is that you don’t have to use all of the proceeds from the sale of the family home into a superannuation downsizer contribution. You get to choose how much you’d like to contribute, up to $300,000 for singles and $300,000 each for couples.</p> <p dir="ltr">There are 5 key things you should consider before you make a decision to use the downsizing contribution strategy.</p> <p dir="ltr"><strong>1. What type of property and which suburb will you downsize to?</strong></p> <p dir="ltr">Many people approaching retirement don’t want to be rattling around in a larger family home. So if you do look for something smaller, what type of property and which suburb will you move to?</p> <p dir="ltr">Some key considerations may include:</p> <p dir="ltr">· Proximity to family and friends</p> <p dir="ltr">· The distance to essential services you use, shopping and medical services</p> <p dir="ltr">· Availability of public transport</p> <p dir="ltr">· Accessibility of lifestyle activities such as golf, tennis courts, swimming</p> <p dir="ltr">· The type of property itself, perhaps single level with no stairs</p> <p dir="ltr">Many city dwellers who choose the sea or tree change often take what they have for granted so if you’re moving to a region, make sure you do your homework to ensure you will have everything you need.</p> <p dir="ltr"><strong>2. Check your eligibility to ensure this strategy is open to you</strong></p> <p dir="ltr">In addition to finding your next home, you should also make sure you understand and follow the rules the government has set out about using the downsizer contribution strategy. There are always rules! Check the eligibility requirements to make sure it’s available to you, including</p> <p dir="ltr">completing the right paperwork at the right time. Originally this was only open to those aged 60 or over from 1 July 2022, however the government has now lowered the accessibility age to those aged 55 and over from 1 January 2023. Other conditions apply too so ensure you meet them to ensure you’re eligible for this financial planning strategy.</p> <p dir="ltr"><strong>3. Make the most of your contribution options.</strong></p> <p dir="ltr">The downsizer contribution allows an individual to make a $300,000 contribution to your super. And if you’re a couple, you each can make a $300,000 contribution. With the focus on getting money into your super to fund your retirement life, remember that you may also make a non-concessional contribution of up to $330,000 (total super balance permitting). This way you can maximise the base from which a tax free income stream may be commenced or equalise the value of accounts if one member is over the transfer balance cap. Remember that you can also make a downsizer contribution if you have reached your transfer balance cap of $1.7 million.</p> <p dir="ltr"><strong>4. Ensure the strategy is considered with Centrelink.</strong></p> <p dir="ltr">For many Australians, Centrelink provides an important source of income for their retirement and it makes sense to consider this strategy in the context of your eligibility for that income. The money you receive from the sale of your family home will be considered when determining your entitlements. Your new home however, the one you downsize to, becomes exempt once you have purchased it. This is because it becomes your primary residence.</p> <p dir="ltr"><strong>5. Don’t forget about the other ways you can contribute to super.</strong></p> <p dir="ltr">The downsizing contribution strategy is just one way you can contribute to super. There are other ways you can contribute too. An example is making a personal deductible contribution to super. Through this type of contribution, you make your contribution, and you claim a tax deduction when you get your tax return completed. Downsizer super contributions don’t allow you to claim a tax deduction. Make sure you consider all of your options when making super contributions and assess the pros and cons of each.</p> <p dir="ltr">There is a lot to consider when making the decision to downsize your family home and it’s not just about where you want to live next. The downsizer contribution strategy is a great way to get extra money from the sale of your family home to fund your retirement lifestyle. Make sure you understand your financial planning options though, before making a decision, to be more confident that you will achieve the outcomes that you’re seeking. No one likes surprises around unexpected outcomes, so do your homework and seek advice from a licensed financial planner if you need help.</p> <p dir="ltr"><em><strong>Luke Smith is a licensed Australian financial planner and author of the new book, Smart Money Strategy – Your Ultimate Guide to Financial Planning (Wiley, $34.95), published by Wiley. Luke is also the host of the popular podcast ‘The Strategy Stacker – Luke Talks Money’ and appears every Friday afternoon on Canberra’s 2CC. Found out more at <a href="http://www.thestrategystacker.com.au/">www.thestrategystacker.com.au</a></strong></em></p> <p><span id="docs-internal-guid-b947a9ff-7fff-c3ad-8165-fba98ab2beb8"></span></p> <p dir="ltr"><em>Image credit: Getty</em></p>

Downsizing

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So, you want to live tiny? Here’s what to consider when choosing a house, van or caravan

<p>The reasons for choosing to go tiny range from reducing debt, inability to afford a conventional home, the search for sustainability, a life crisis, or even <a href="https://theconversation.com/architecture-of-doom-diy-planning-for-global-catastrophe-31836">preparing for an uncertain future</a> in the face of climate change by going off-grid. Or perhaps a combination of these.</p> <p>An important first step is to decide what type of tiny house you want. To many, the phrase “tiny house” brings to mind an archetypal tiny house on wheels, a miniature cottage on a trailer, often made of wood, with a pitched roof and dormer windows. </p> <p>Indeed, most tiny housers prefer some degree of mobility, whether a ready-made or DIY tiny house, converted caravan or bus/van. A survey by the <a href="https://australiantinyhouseassociation.org.au/">Australian Tiny House Association </a>found most (78% of 109 respondents) lived in tiny houses on wheels, but a small but growing proportion live in converted caravans, vans or buses.</p> <h2>Why do you want to go tiny?</h2> <p>First you need to evaluate your motives, which may differ according to your situation or stage of life. The most important question here is, how often do you want to move? </p> <p>Do you want to be ultra-mobile, and live like a digital nomad, perhaps in a “stealth van” in the city, changing parking spaces every night? Or do you want to travel around Australia like a “grey nomad”, staying in caravan parks or roadside camps for a week or so before moving on? </p> <p>Alternatively, do you want to be more settled, perhaps moving occasionally, to be closer to work, medical facilities or schools for children? (Yes, some tiny housers have children). Or do you want to travel between the houses of adult children or do petsitting, staying from weeks to months?</p> <p>Many off-the-shelf caravans are extremely well designed and are accepted everywhere, at caravan parks or roadside parking areas. On the other hand, a tiny house on wheels is less mobile, and not suited to frequent moving (they are also extremely heavy, not aerodynamic and large tow vehicles are costly). </p> <p>They’re also less accepted in caravan parks, and <a href="https://www.tandfonline.com/doi/full/10.1080/07293682.2019.1632358">most local councils consider them caravans</a>, with restricted periods of occupancy and often onerous conditions. Vans and buses are the most flexible (in the “stealth van” or vanlife movement, people live rent-free by parking, mostly illegally, often in industrial estates, and using public or work/gym bathrooms). </p> <p>They are, however, extremely small and while it may seem glamorous to live in a van like celebrity rock climber <a href="https://www.ft.com/content/d1ac7b02-34f8-11e9-bd3a-8b2a211d90d5">Alex Honnold</a>, the reality may not be practical.</p> <h2>What can you afford?</h2> <p>Cost will likely be the next factor to consider. <a href="https://tinyrealestate.com.au/what-does-a-tiny-house-cost/">Ready-built tiny houses range from around A$50,000 - $120,000</a>; DIY are cheaper, especially if self-built, with some costing under $2,000. The higher end, architect-designed ones are more expensive.</p> <p>Converted caravans can be affordable, even under $10,000, but prices vary markedly, with some ultra-luxurious five-wheelers costing more than a typical suburban house (&gt;$600,000). </p> <p>Converting old buses and vans is much cheaper, with the cost of the vehicle tending to be under $20,000. Of note, unless you are living <a href="https://www.tandfonline.com/doi/full/10.1080/07293682.2019.1636837">under the radar</a> or free camping, you are going to have to factor in the ongoing cost of renting someone’s backyard or caravan park space.</p> <p> </p> <div data-react-class="InstagramEmbed" data-react-props="{&quot;url&quot;:&quot;https://www.instagram.com/p/B6y6fT6nEOE&quot;,&quot;accessToken&quot;:&quot;127105130696839|b4b75090c9688d81dfd245afe6052f20&quot;}"> </div> <h2>How sustainable is your choice?</h2> <p>Sustainability is a more nuanced aspect of tiny house living; living small means less energy needed for heating and less room for superfluous stuff, encouraging or enforcing a minimalist lifestyle. </p> <p>Most tiny houses on wheels are off-grid to some extent, relying on <a href="https://www.tandfonline.com/doi/full/10.1080/07293682.2019.1634111">solar power, rainwater and composting toilets</a>. They are often built entirely out of sustainable or reclaimed materials. </p> <p>On the other hand, most caravans and vans are not particularly sustainable — they’re often built out of mass-produced material and may produce outgassing from carpets and paints. Vans and busses are generally no more or less sustainable than any similar vehicle. </p> <h2>What kind of life do you want?</h2> <p>Tiny houses, whatever the type, are just that: tiny. Space is at a premium and living tiny requires reducing stuff, such as clothes, sporting and hobby equipment. Tiny houses on wheels, where parked more permanently, allow for decks and even sheds, but caravans and vans are self contained, unless in a permanent caravan park. </p> <p>If you are used to living in a very large space, it may take time to adapt to the practicalities of tiny living; people often complain about cooking smells and composting toilets.</p> <p>Despite the popularity of tiny houses however, very few people actually live in them. Nonetheless, the vast majority of people who live or have lived tiny, <a href="https://theconversation.com/life-in-a-tiny-house-whats-it-like-and-how-can-it-be-made-better-110495">view their experience positively</a>, and feel it has greatly enriched their lives, and helped them <a href="https://theconversation.com/when-people-downsize-to-tiny-houses-they-adopt-more-environmentally-friendly-lifestyles-112485">re-evaluate their life choices, especially consumerism</a> even after moving to more conventional dwellings.</p> <p><em>Image credits: Getty Images</em></p> <p><em>This article originally appeared on <a href="https://theconversation.com/so-you-want-to-live-tiny-heres-what-to-consider-when-choosing-a-house-van-or-caravan-129790" target="_blank" rel="noopener">The Conversation</a>. </em></p>

Home & Garden

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Top tips for a kitchen cleanup

<p dir="ltr">Whether you’re gearing up for a move or just looking for a little more space in your crowded cupboards, downsizing is both an effective and rewarding activity. Plus, the whole family can hop in and lend a helping hand. </p> <p dir="ltr">The concept of a downsize is no new thing, but with the likes of Netflix’s Tidying Up with Marie Kondo taking the world by storm, it’s become bigger than ever with people eagerly taking to cutting down on household clutter.</p> <p dir="ltr">From keeping only their most treasured items to only keeping those that are absolutely necessary, households around the world have benefitted from putting in a little elbow grease. However, as many can attest, one of the best spots to tackle is none other than the kitchen. </p> <p dir="ltr">Downsizing and minimising the items you have in your home isn't a new concept, but it's become more popular as of late. This simple act of pairing your current items down and keeping only the essentials is proving to be worthwhile, and one room that can definitely benefit from this kind of attention is the kitchen. This is one of the most trafficked and used areas in the home and if you're not careful, kitchens can become a hoarding ground for things we don't always need or use.</p> <p dir="ltr">The kitchen, with cupboards, drawers, and pantries galore, is a breeding ground for items that will have anyone exclaiming “I forgot I had that”. From removing unnecessary appliances, dining ware, four sets of mismatched cutlery, and old food, here are some top tips and tricks to keep on top of the task, and master the art of the kitchen downsize. </p> <ul> <li dir="ltr"><strong>Set achievable goals </strong></li> </ul> <p dir="ltr">The first critical mistake any budding (or avid) downsizer can make is to set a goal that isn’t realistic - whether that be in scope or in time frame. When setting your goal, make sure to factor in things such as the size of your kitchen, how long it’s been since your last cleanup, how many helpers you may be able to rope in, and when you’d like to be finished. </p> <p dir="ltr">Start from the end: decide the date you want to be able to check this item off your to-do list, and work back from there, figuring out how long you’ll realistically have to spend on it each week or month, and allow yourself some wiggle room should you have to skip a day. </p> <p dir="ltr">Give yourself checkpoints along the way in the form of smaller milestones. Is cleaning out your pantry your top priority? Do you consider finally emptying that overflowing second utensils drawer an achievement in itself? Would removing the old jam jars from the back of the fridge give you the boost you need to tackle the next shelf? If so, these little accomplishments could make all the difference. </p> <ul> <li dir="ltr"><strong>Remove duplicates </strong></li> </ul> <p dir="ltr">It is common advice that when starting out, you should remove everything from the area you plan to work on. While this isn’t always possible, especially if you’re short on room, it can make the world of difference to see exactly how much space you have to work with, and to be able to group together any similar items that may have been lying around - utensils with other utensils, pots with other pots, and so on. </p> <p dir="ltr">Once this is done, the next step is to remove any duplicate items from your collection. While it can help to have a few of each thing - surely there’s no such thing as too many wooden spoons - this can be a great opportunity to get rid of the unnecessary items chewing up space in your kitchen. This, of course, will vary from household to household - those who cook larger meals for bigger households may require more than those of a single person household, for example. </p> <p dir="ltr">It’s important, of course, to hold on to the one from the set that you’ll get the most use out of. Often, these are the ones in best conditions, or that are the best quality. It can help too to remove the largest one from your collection, especially if saving space is why you started this project. For those who’d prefer to hold on to your favourite one instead, that’s okay. Downsizing is meant to help, not upset. </p> <ul> <li dir="ltr"><strong>Cut back </strong></li> </ul> <p dir="ltr">We all have that kitchen gadget sitting in the back of a cupboard from Christmasses past - probably still in the box, waiting to see the light of day. From gimmicky single-use items (keep the ones you use, stop hanging on to the rest) to bulky specialty appliances, we’ve all been there, and we could all gain some room back if we cut the ties. </p> <p dir="ltr">The key, when deciding which devices to keep, is to focus on the ones you actually use. Pasta makers, smoothie blenders, ice cream machines, bread ovens, and vegetable slicing contraptions are all well and good to have - if you’re making the most of them. But if their primary purpose in your kitchen is to collect dust, it might be time to let them go. If you’re unsure, it’s suggested you ask yourself if you will use the appliance in the next few months. If your answer is no, it’s probably a sign. </p> <p dir="ltr">And the best part? Gifting it is always an option, especially if it’s still snug in its box. </p> <ul> <li dir="ltr"><strong>Storage solutions </strong></li> </ul> <p dir="ltr">Organised pantries are all the rage, from orderly labelled tubs to chaotically unique household solutions, everyone wants to know exactly what’s in there and where to find it. <a href="https://www.kmart.co.nz/search/?searchTerm=pantry+storage" target="_blank" rel="noopener">Clear containers</a> are a hero item, and as with most things reusable, you can feel like you’re doing your bit for the environment, as an added bonus. Plus, you’ll feel good opening those doors to see the order in your shelves. </p> <p dir="ltr">When it comes to cupboards, a top tip is to look into a <a href="https://www.ikea.com/au/en/p/variera-shelf-insert-white-50177727/">shelf raiser</a> or two. Being able to see everything in your collection as soon as you peer inside can put you at a great advantage when it comes to keeping on top of your cleanup in the long term. This goes for all areas of the kitchen - from the fridge to the pantry, spice rack, cupboards, and saucepan spot - and is crucial in avoiding going through the entire process faster than you can tell people “I sorted my house and I feel so much better now”. </p> <p dir="ltr"><em>Images: Getty </em></p>

Home Hints & Tips

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What to consider when downsizing

<p>It’s the great Australian dream: to own a house in the suburbs with a big backyard for the kids. But, with the kids gone and you reaching retirement (if you’re not already retired), is it time to downsize?</p> <p>Moving out of the family home to cheaper and smaller accommodation isn’t an easy decision, but in many cases one that has to be made, due to either costs in the upkeep of the home or for health reasons.</p> <p>A study by the Australian Housing and Urban Research Institute found that 43 per cent of survey respondents who had relocated had downsized, with around half downsizing or moving only once since turning 50. It also revealed that out of its respondents, 91 per cent of downsizers reported being either mostly satisfied or very satisfied. Now, that’s good news.</p> <p>While the motivation for downsizing is different for everyone, the most common reasons for relocating was a change in lifestyle, being closer to family and financial gain. By moving into smaller and more affordable housing, insurance premiums may be reduced and for those who haven’t finished paying off their mortgage, it could mean a lower mortgage repayment or paying it off outright.</p> <p>If downsizing is starting to sound appealing, here’s what you need to know.</p> <p><strong>What’s best for you?</strong><br />Talk to your partner and your family to gauge your motivations for wanting to move. Is it financial? Would you like to be closer to your grandchildren? Or, would you like to live by the coast? Whatever your reasons, be mindful of why you want to downsize. That way, if you experience challenges along the way, you’ll always have that picture in the back of your mind of why you’re making the move.</p> <p><strong>Make the tough calls</strong><br />The family home carries within its walls a lifetime of memories so it can be difficult to say goodbye to it. In many cases, you’ll need to sell or give away some of your belongings because a smaller home means limited space. However, take this opportunity to look at what you have and what you really need.</p> <p>This can be a great way to finally say goodbye to those old lawnmowers in the garage that no longer work. Ask for help from your family, friends and neighbours since this should be a time of celebrating the old and embracing the new.</p> <p><strong>Do your homework</strong><br />The internet has made it much easier to find housing anywhere in Australia. While many suburbs are dominated by large family homes, there are growing pockets in all capital cities and large regional areas, particularly those towns popular with retirees, which have medium-density housing suitable for older couples.</p> <p>Write down what you’re looking for in terms of location, property and price to narrow down your search and then keep on top of available listings, either online or with a real estate agent in the area you want to move into.</p> <p><strong>Will downsizing affect my pension?</strong><br />Selling the family home is one way to free up cash for retirement, which can then be reinvested into shares, term deposits or superannuation. However, if you’re receiving any kind of government pension, then this is going to be affected.</p> <p>While the family home is exempt from the assets test, if you sell your home and come up ahead with a profit of say $300,000, the money will need to be included in the assets test. As the age pension depends on what your assets are worth in this test, it’s best to speak to a Department of Human Services Financial Information Service officer.</p> <p>Whatever your reason for downsizing, make sure you’re fully aware of what you want, what’s best for you and how moving may impact your current circumstances. If in doubt, speak to family and friends or seek professional advice from a financial planner.</p> <p><em>Image credits: Getty Images</em></p>

Money & Banking

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How to downsize without leaving your suburb

<p><em>Image: Readers Digest</em></p> <p>The kids are long gone, you’re tired of never ending cleaning and expensive utility bills, and your large property is now more of a hindrance to your lifestyle. Whether you want to simplify your life or start a new stress-free phase,<span> </span>downsizing your space<span> </span>offers many benefits. The only problem is, when most of us think of downsizing, we think of leaving behind the family home and moving into a smaller place, which can often mean saying goodbye to friends and family.</p> <p>If that thought makes you anxious, don’t worry. Downsizing doesn’t mean you have to sell up and move out. If you want to stay put, in a home that better meets your lifestyle needs, here are two things to consider:</p> <p><strong>Save stress with a knockdown rebuild</strong></p> <p>If you love where you live, but you don’t want to have such a big space anymore, a knockdown rebuild is a great way to build a new home, without having to leave your comfort zone. With a<span> </span>knockdown rebuild<span> </span>you have a blank canvas to work with, so you can design a home that you love from scratch, choosing the size and style to suit your later years. One of the biggest benefits of a knockdown rebuild is that it may be a lot more cost effective than renovating. It can even be less time consuming, and less stressful! If you live on a large block that has the potential to subdivide, you can even knock down your current home, build a smaller one on part of the land, and sell off the other part. This might help you to recoup some of the costs of the rebuild as well.</p> <p><strong>Split your home with dual occupancy</strong></p> <p>If you’re living in an outdated home with plenty of yard space, a dual occupancy home could be the solution. Why not knock your home down and build two homes, live in one and rent out the other? By doing this, you’ll have less space to worry about, and you’ll also be receiving income for the other half of your property. This might also free up some of the equity you have in your current home, and there are a number of tax bonuses as well. If renting the other home isn’t your goal, you might choose to keep family members close, using the second dwelling for them. Many Dual occupancy homes also have the added benefit that if you do choose to sell at any point, you can sell them separately, which could double your sales income!</p> <p>Do your research and find out what’s possible on your block and keep an open mind. Talk to a professional builder and do what’s right for you, and your future.</p> <p><em>This is a sponsored article produced in partnership with Metricon. </em><em>This article first appeared in <a href="https://www.readersdigest.com.au/home-tips/how-to-downsize-without-leaving-your-suburb">Reader’s Digest.</a> For more of what you love from the world’s best-loved magazine, <a href="http://readersdigest.innovations.com.au/c/readersdigestemailsubscribe?utm_source=over60&amp;utm_medium=articles&amp;utm_campaign=RDSUB&amp;keycode=WRA87V">here’s our best subscription offer.</a></em></p>

Downsizing

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Top tips to navigate the financial effects of COVID-19

<p><em>Please note: This story covers financial matters but it is general in nature and does not take into account your personal circumstances. Please consult your own financial advisor for more information.</em></p> <p>We are living in unusual times and COVID-19 has led to major changes in just about all parts of our life – including your retirement planning. So here, we’re giving you some retirement planning tips to help you find your way through all of these changes.</p> <p>Many of us have been working for the past couple of decades, saving our super and planning for our retirement, so we can relax and enjoy ourselves. And then along comes 2020 and the COVID-19 pandemic and everything changes. So how can you keep your retirement planning on track?</p> <p>Let’s take a look at what’s changed so far and how you can keep your retirement planning and finances on track, post COVID-19.</p> <p><strong>Tips for your retirement income investments</strong></p> <p>One of the effects of the current economic crisis is the fact interest rates have been cut and this is difficult for those who have long term investments as some of these returns will be cut as well.</p> <p>Companies have slashed dividends but this seems to be getting better but keep watching what’s happening on the stock market and check the movements here.</p> <p>It can be tempting to move from equities to other income-generating assets – and many people have turned to drawing down on their super to supplement their income.</p> <p>But if you’re tempted to sell stocks now, this could have a long-term negative impact on your investment objectives. By moving from a growth portfolio to a conservative portfolio – for example if you move from shares to fixed income assets - at the wrong time, this can affect your retirement savings greatly.</p> <p>It’s no surprise that if you’re around retirement age, you have the most to lose from this strategy. Financial experts say the best approach for long-term investors is to seek advice, but also to keep the faith and understand that markets – and dividends – will rebound.</p> <p>When considering stocks for a retirement portfolio, it’s best to take a ‘total return approach’. So, what else can you do in to help your finances during the pandemic?</p> <p><strong>Tips for weathering market volatility for retirement savings</strong></p> <p>This year’s market volatility and dividend cuts show how important it is to have a flexible plan for your retirement. While your adviser can tailor a strategy for your individual circumstances, here are some ideas to consider:</p> <p><strong>Ensure your portfolio is well-diversified </strong></p> <p>Research shows that if you have diversification across asset classes, local versus global markets, and even alternative investments not correlated to the market, this will help lower the volatility of returns and lessen the impact of any downturns.</p> <p>If you’re still working, aim to build a buffer of enough cash – or similar investments such as term deposits – to cover at least one year’s worth of living expenses.</p> <p>If you’ve recently retired and you have some liquid assets you can draw on outside of your super, this will help offset any reduced pension income.</p> <p><strong>Keep your money in super for longer</strong></p> <p>If you can afford to, it’s better to leave your money in your super as long as possible because every dollar you pull out now won’t be there to benefit from a future rise in value.</p> <p>Many Australians have already drawn on their super funds in this economic crisis and it means they’ll be under more pressure later on down the track. If you’ve converted your super into an account-based pension (ABP), you may take advantage of the government’s halving the mandatory drawdown limits until 30 June 2021 and reduce your pension withdrawals.</p> <p>If you’re in a platform or an SMSF, you have the flexibility to decide how to fund your ABP payment. On the other hand, retail or industry super funds will generally make the decision for you. In either case, speak to your financial adviser to get more advice in this area.</p> <p><strong>Check how your super funds are faring</strong></p> <p>Most Australians are investors in the share market through their super. Your super funds could invest in a range of investments including global shares, cash, fixed income, bonds, both listed and unlisted infrastructure, both listed and unlisted property, and private equity. Each of these has its own risk profile so while the market is quite volatile at the moment, there will be a higher risk for some assets.</p> <p>While you don’t select the assets your super fund invests in on your behalf, you do have control over how your super is invested more broadly by contacting your super fund and choosing an investment option. While the investment options differ from fund to fund, most offer options such as conservative, balanced, growth and high growth.</p> <p>If you don’t choose an investment option, the default option for most funds is either a balanced or growth option – and around 80% of Australian super accounts are invested in their fund’s default option. This means that for most Australians, while your super may have some exposure to higher-risk assets, this would be balanced by lower-risk assets.</p> <p>COVID-19 has made the investment market more volatile lately. If you’re close to retirement, it could be a concern for you if your super is invested in higher risk assets. At this time in your life, it could be a good idea to have your super invested in a more conservative investment option so you can speak with your super fund about this and they’ll give you advice – or you can consult your financial adviser.</p> <p><strong>Consider an annuity</strong></p> <p>Buying a term or lifetime annuity provides you with a guaranteed income stream over a chosen period, regardless of the sequence of investment returns. While an annuity will give you peace of mind, the returns tend to be lower than other higher risk investments, which may not be suitable for everyone, so take this into account.</p> <p><strong>Review your spending plans</strong></p> <p>It’s generally known that new retirees generally spend more than they do later in retirement. Now is a good time to review your spending plans. While COVID-19 is forcing people delay their big trips, any other steps you can take to reduce your spending now will minimise the impact on your retirement portfolio.</p> <p>If you’re approaching retirement you may be thinking about downsizing your family home. This means you need to sell it and purchase a smaller property or a unit in a retirement village. It could be an ideal time to act on this as real estate prices are at an all time high.</p> <p>This is a good idea because you can use the extra money you’ll have from selling your home to supplement your super or you could use it as extra liquidity during your retirement.</p> <p>Also, if you’re on the age pension, you need to be aware when you sell your family home, the money you've gained from downsizing will count towards your means test. Therefore, if you end up with a great deal of extra income, this could result in a reduction, or even the cancellation of your age pension.</p> <p>If you’re aged over 65 and you’ve lived in your family home for 10 years or more, you can contribute up to $300,000 individually, or $600,000 as a couple, from the sale of your home into your superannuation.</p> <p>This move can really help you boost the income you can generate in retirement. But before you go down this path, there are some extra eligibility criteria for these large contributions to your super, so you may need to get advice and check if you’re eligible.</p> <p>Ask your financial adviser about these contributions to your super – usually referred to as ‘Downsizer Contributions.’ These contributions can count towards your Age Pension assets test so check all of this out when you do your planning.</p> <p>As you can see, downsizing is not as easy as you might first think so it’s best to speak to your financial adviser about the best options for your circumstances.</p> <p><em>Photo: Shutterstock</em></p> <p> </p>

Legal

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Meet the couple who moved into a new retirement village apartment...without visiting it first

<p><span>A decision by a NSW couple to buy a retirement village apartment - without physically inspecting it first - has illustrated how COVID-19 has transformed the downsizing real estate market.<br /><br /></span><span>In late June 2020, John and Rosemary Gooch moved 500km from Mudgee in the NSW central-west to <a href="https://www.downsizing.com.au/property/sale/11035/queens-lake-retirement-village">Stockland Queens Lake</a> at Laurieton on the State’s mid-north coast.<br /><br /></span><span>Although Ms Gooch knew the Laurieton area well, having previously lived near there, neither she or her husband had actually been inside their future one and half bedroom apartment.<br /><br /></span><span>A Stockland salesperson gave the couple several online tours on her mobile phone, and also helped by taking measurements of key areas.<br /><br /></span><span>“I’d looked at the apartment so many times (online), I knew it backwards,” Ms Gooch said. “I knew every room, every little bit, so we knew it was going to be good.<br /><br /></span><span>“The sales person did a video of it, and walked us through, and we had a floor plan. Because we had seen it so much, we knew how beautiful it was.<br /><br /></span><span>“When we actually arrived, it was actually better than what we thought. It is bigger than what we thought, it is a beautiful location and it’s quiet.”<br /><br /></span><span>Dea Gardner, sales professional at Queens Lake Retirement Village, said it was important to make the customer feel comfortable and confident when making the big decision to move, especially when it comes to downsizing. <br /><br /></span><span>“I just kept in regular contact and made sure I had a lot of information to help them (the Goochs) understand any concerns or questions they had,” Ms Gardner said. <br /><br /></span><span>“I made myself available to them entirely, having several conversations on what from their furnishings would or wouldn’t fit, and happily took measurements for them so they knew as much information as possible before moving. I think this relieved a lot of their stresses.” <br /><br /></span><span>The Goochs said they were happy to make the purchase after taking part in virtual tours, given this meant they avoided a 500km trip during a time of COVID-19 restrictions. The couple purchased the apartment for $245,000.<br /><br /></span><span>More retirement living operators are turning to virtual tours and open days to market their properties, either in response to government restrictions or because potential buyers may be keen to avoid travelling.<br /><br /></span><span>Downsizing.com.au has <a href="https://www.downsizing.com.au/news/739/New-online-events-promotion-is-the-key-to-sales-success-with-downsizers">launched a new initiative</a> which supports clients being able to showcase virtual tours and online events, along with traditional in-person events.<br /><br /></span><strong><span>Find out more information about the </span></strong><span><a href="https://www.downsizing.com.au/property/sale/11035/queens-lake-retirement-village"><strong>Queens Lake retirement village here</strong></a></span></p>

Downsizing

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“Hunk of junk”: Mum’s overly honest caravan ad has internet in stitches

<p>Glastonbury mum Katie Perkins has obviously had enough of the 27-year-old caravan taking up space on her property.</p> <p>So, in a fit of fury, she took to Facebook Marketplace to try and find a prospective buyer – but soon turned her post into an opportunity to vent a bit of pent-up rage at the “monstrosity” that had been plaguing her for so long.</p> <p>The UK woman was definitely a little too honest in her expletive-laden ad, and the post quickly went viral due to her astonishingly blunt descriptions.</p> <p>“It is a tin shed on wheels,” she wrote.</p> <p>“It is f***ing hot in the summer. It is f***ing freezing in the winter. It even grows icicles on the inside.”</p> <p>She adds that the oven and fridge are equally rubbish, but the microwave is “pretty decent.”</p> <p>“Get this hunk of junk off my f***ing land,” she pleads.</p> <p>“I’d love to say it’s beautiful, but I’d be lying. I’d love to say I loved living in it, but I’d be lying.”</p> <p>The listing has been shared more than 1,000 times and racked up hundreds of comments as people commended her for the refreshing honesty, calling it the “best ad ever”.</p> <p>Check out the images of the caravan in the gallery below, and here also is the full (slightly cleaned up) post in all its glory:</p> <p>“YES IT'S STILL AVAILABLE - I WILL. REMOVE ONCE IT HAS GONE.</p> <p>IT IS AN ANCIENT 27 YEAR OLD CARAVAN. 32FT x 10FT, 2 BED STATIC.</p> <p>IT HAS BEEN LIVED IN BY A FAMILY OF 7 (WE WERE A FAMILY OF 4 🤰⚠️) FOR 7 YEARS ONSITE WHILST BUILDING OUR DREAM HOME, WHICH TURNED INTO A F***ING NIGHTMARE.</p> <p>IT IS NOT PRISTINE.</p> <p>IT IS NOT PRETTY.</p> <p>IT IS A TIN SHED ON WHEELS.</p> <p>IT IS F***ING HOT IN THE SUMMER.</p> <p>IT IS F***ING FREEZING IN THE WINTER.</p> <p>IT EVEN GROWS ICICLES ON THE INSIDE. IT COULD DO WITH FULL REPLACEMENT OF CARPETS.</p> <p>IT NEEDS A GOOD BLEACH CLEAN THROUGHOUT.</p> <p>IT HAS A SHIT OVEN.</p> <p>IT HAS A SHIT HOB.</p> <p>IT HAS A SHIT FRIDGE.</p> <p>KIDS WERE POTTY TRAINED IN IT.</p> <p>DOG WAS POTTY TRAINED IN IT.</p> <p>IT HAS BEEN USED AS STORAGE FOR THE LAST 9 MONTHS.</p> <p>NEXT STOP THE F***ING CHICKENS ARE GOING IN IT.</p> <p>IT DOES HAVE A PRETTY DECENT MICROWAVE, ALBEIT CHEAP MORRISONS ONE.</p> <p>IT ALSO HAS EXTRAS!</p> <p>COUPLE OLD SHOES IN THE WARDROBE.</p> <p>ABSTRACT ART, ONE OF A KIND, COURTESY OF THE CHILDREN.</p> <p>OLD BOTTLES OF BOOZE UNDER THE SINK.</p> <p>PRETTY SURE THERE'S EVEN A SLOW COOKER THAT WAS ONLY USED ONCE?</p> <p>BEDS THAT HAVE BEEN DESTROYED AND I CANNOT BE F***ED TO REMOVE.</p> <p>I’M SURE IF YOU ARE LOOKING AT IT YOU CAN USE IT FOR SOMETHING, I DON'T GIVE A F**K WHAT.</p> <p>I WANT OFFERS.....I DON'T EXPECT ALOT BUT SOMETHING WOULD BE NICE.</p> <p>F**K IT - IF YOU TRUELY WANT THIS F***ING MONSTROSITY THEN I WILL TRADE IT FOR A COUPLE BOXES OF HUBBY'S FAVOURITE RED WINE - JAMMY RED ROO OR JAM SHED.</p> <p>GET THIS HUNK OF JUNK OFF MY F***ING LAND.</p> <p>I'D LOVE TO SAY IT'S F***ING BEAUTIFUL, BUT I'D BE LYING.</p> <p>I'D LOVE TO SAY I LOVED LIVING IN IT, BUT I'D BE LYING.</p> <p>I'D LOVE TO SAY I'D LOOK FORWARD TO A CARAVAN HOLIDAY, BUT GUESS WHAT...?</p> <p>I'D BE LYING.”</p> <p>… and if you’re still game to read the real thing, take a deep breath, be warned, and click <a rel="noopener" href="https://www.facebook.com/marketplace/item/332595611252474/" target="_blank">here</a>.</p> <p><strong>Images:</strong> Facebook Marketplace</p>

Downsizing

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5 ways to downsize your debt

<p>It’s said that only death and taxes are certainties in life, but in the modern world, some form of debt is almost guaranteed too. Here are five ways to downsize your debt and get more control over your finances.</p> <p><strong><br />1. Look at your money holistically</strong></p> <p>It’s all too easy to look at our money in different silos: this is what we owe, this is what we have, and this is what we expect to come in.</p> <p>But you have to consider all your money as a single pool to work out what represents the best <em>overall</em> value for you financially.</p> <p>For example, tax deductions for extra superannuation contributions may be bigger than the low home loan interest rate you’re currently paying, meaning you could be better off by beefing up your retirement earnings than paying down the mortgage a bit faster.</p> <p><strong><br />2. Tackle the most expensive debts first</strong></p> <p>We often think of debt as the mortgage, but it may also be personal loans, car loans, credit cards and store cards/repayment plans. And each will have different interest rates.</p> <p>You’ll downsize your debt much faster by tackling the most expensive – that is, the ones with the highest interest rates – first. That’s because debts with high interest rates will grow much quicker, and can even spiral out of control.</p> <p>Depending on your circumstances, it may even be worthwhile consolidating some or all of your debts into one larger debt, particularly one with a much lower interest rate.</p> <p><strong><br />3. Make your mortgage work harder for you</strong></p> <p>Speaking of mortgages, these can actually be used in your favour, if you know what to do and do it wisely.</p> <p>Over time, you’ll build more and more equity in your home, as property prices increase over time and as you pay down the loan. And that equity can be used to make more money than the interest it would attract by being withdrawn.</p> <p>As such, look at whether your mortgage has an offset account or redraw facility that you could tap into. If not, it may be time to refinance to one that does.</p> <p>Consider too whether to go for a fixed, variable rate or a combination of both on your mortgage, and which makes more sense for your current circumstances. Fixed will give you budget certainty, but variable offers more flexibility.</p> <p><strong><br />4. Boost your income through investments</strong></p> <p>We often focus on paying down debt without building other investments. Chances are you’ve thought to yourself at some point “When I’ve paid off my home, then I will then invest”.</p> <p>But you lose precious time doing this, and time is our friend when it comes to investing – the longer your investment timeframes, the more you’re likely to earn through compound interest and higher asset values.</p> <p>So, consider whether you could be doing both simultaneously – investing for the future AND paying down existing debt. You may even find the proceeds of one will help you pay down the other much faster too.</p> <p><strong><br />5. Get your kids to pay their way</strong></p> <p>By the time you’re in your 40s and 50s, your kids – if you have any – are likely in their late teens or 20s. And a variety of factors, including full-time study, high house prices and more recently the COVID-19 crisis, mean that many young adults are still living at home.</p> <p>You may or may not be happy to still have them in your nest, but they can be a substantial drag on your finances if you let them.</p> <p>When they’re earning money of their own, get them to contribute to household bills, insurances and grocery costs. They would pay more if they were out on their own anyway. If they’re not working, then they can still contribute in other ways – cleaning the house and mowing the lawns won’t cost them a cent, but will save you from having to hire a cleaner and gardener.</p> <p>Either way, you’re freeing up extra cash to help pay down your debts!<br /><br /></p> <p>Helen Baker is a licensed Australian financial adviser and author of two books: <em style="font-weight: bold;">On Your Own Two Feet – Steady Steps to Women’s Financial Independence</em> and <em style="font-weight: bold;">On Your Own Two Feet Divorce – Your Survive and Thrive Financial Guide</em>. <em style="font-weight: bold;">Proceeds from the books’ sales are donated to charities supporting disadvantaged women. </em>Helen is among the 1% of financial planners who hold a master’s degree in the field. Find out more at <a href="http://www.onyourowntwofeet.com.au"><strong>www.onyourowntwofeet.com.au</strong></a></p> <p><strong><em>Note this is general advice only and you should seek advice specific to your circumstances.</em></strong></p>

Retirement Income

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Central Coast's changing face attracts Sydney downsizers - would you retire here?

<p><strong>In Australia, NSW's Central Coast region’s natural beauty, improved transport access and shift to high-quality new housing are helping to attract downsizers from Sydney.</strong></p> <p>Downsizing.com.au spoke to a local agent to understand more about the region’s growing appeal.</p> <p><strong>Attractive lifestyle and transport access</strong></p> <p>Michelle Tucker, a Central Coast-based McGrath agent, says there are several drivers enticing downsizers to ‘The Coast’ (as locals prefer to call the region).</p> <p>Ms Tucker said the picturesque Brisbane Waters and the region’s magnificent beaches are key attractors. “The lifestyle of the Central Coast has always been an attractive proposition for downsizers,” Ms Tucker said. </p> <p>Ms Tucker also says transport access is also about to improve, with the <a href="https://northconnex.com.au/">North Connex roadway project</a> close to completion. This project is expected to make the trip from the Central Coast to the centre of Sydney some 30 minutes faster. </p> <p>“Downsizers want to stay connected to the city’s amenities, and this is particularly so for those originating from Sydney,” Ms Tucker explains. </p> <p>“They want everything at their fingertips. They still want to go to shows in Sydney and meet their friend for lunch. They don’t want to give up their Sydney lifestyle.”</p> <p>In addition, Central Coast residents have the choice of two major airports, Sydney’s Kingsford Smith and Newcastle Airport at Williamtown. It is also possible to take a train from Gosford to Central Station in 70 minutes.  </p> <p><strong>Relative value for money</strong></p> <p>Ms Tucker says the downsizer market on the Central Coast is split between locals and those moving from Sydney. </p> <p>“We recently sold a beautifully appointed penthouse with sweeping views of Brisbane Waters to downsizers from Killara, a northern Sydney suburb, for $1.6 million,” she says.  </p> <p>“To find an apartment like this on the North Shore with sweeping water views of say Middle Harbour or Sydney Harbour, you could expect to double and even triple the price.</p> <p>“Not only has this couple bought into a fantastic lifestyle but downsizing to the Central Coast leaves money in the bank.”</p> <p>However, Ms Tucker said that the Central Coast hasn’t always offered the housing product matching the region’s lifestyle delights. </p> <p>“It’s only in the last few years we’ve seen an increase in brand new luxury apartments come onto the market,” she said.</p> <p><strong>Changing face of Gosford</strong></p> <p>With more residential towers in various stages of development in Gosford and Point Frederick, the local restaurant, café and bar scene is improving with a bullet.</p> <p>“You come out of your apartment, and you’re on the waterfront, go to a restaurant or café in town. Gosford is starting to happen, and there are places to go,” Ms Tucker says.</p> <p>In addition, both of the region's major hospitals are <a href="http://www.gwhr.health.nsw.gov.au/">currently undergoing a major redevelopment.</a> </p> <p><strong>Properties on the Central Coast</strong></p> <p>Ms Tucker is currently marketing the luxury <a href="https://www.downsizing.com.au/property/sale/47280/ravello-luxury-apartments">Ravello</a> residential apartment project, being developed by veteran media industry figure John Singleton at Point Frederick.</p> <p>Located on the former site of the iconic Monti’s Ashore fish and chip shop, Ravello includes 40 apartments and has largely uninterrupted views over Brisbane Water.</p> <p>The project will be completed in 2021 and includes one, two and three-bedroom apartments, and three penthouses. </p> <p>There is only a limited number of one-bedroom apartments available from $460,000, while two-bedroom apartments begin at $830,000. </p> <p>“Central Coast downsizers love large apartments with big terraces as they still want space for the Christmas lunch and in this respect, developments such as Ravello tick these boxes,” Ms Tucker says.</p> <p>Another new Central Coast project currently on offer is Retire Australia’s <a href="https://www.downsizing.com.au/property/sale/44418/expect-a-lifestyle-thats-second-to-none">Rise at Wood Glen</a> project at Erina. </p> <p>The Rise at Wood Glen will comprise 58 purpose-built two and three-bedroom independent living apartments against a backdrop of award-winning gardens and bushland views in the existing Wood Glen retirement living community.</p> <p>Independent living apartments in Stage 1 range from $650,000 to $1,050,000.</p> <p>The Central Coast also continues to offer more affordable property in existing retirement villages and land lease communities.</p> <p><em>Republished with permission of </em><a href="https://www.downsizing.com.au/news/664/Central-Coasts-changing-face-attracts-Sydney-downsizers"><em>Downsizing.com.au.</em></a></p>

Retirement Life

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Everything you need to know before downsizing

<p>Downsizing in retirement is a huge step. Make sure you know the basics before you make your decision.</p> <p><strong>What is downsizing?</strong></p> <p>Put simply, downsizing means selling your current home and buying a smaller property. Most commonly, it refers to people who are still living in a large, multi-bedroom home where they raised their family. Now, with no kids left, they are able to move to something better suited for a couple. By downsizing, you will be able to release some of the equity you have in your existing home (provided you buy something cheaper).</p> <p><strong>What are the benefits?</strong></p> <p>The primary benefit should be financial. You will receive a lump sump from the sale of your property and be able to take out a smaller mortgage. Or, if money isn't an issue, now is your chance to move into a smaller but more luxurious property. You will also save money on utilities as it costs less to light and heat a smaller home. In practical terms, you no longer have to clean or maintain a large home that has grown to big for your needs. Downsizing also gives you the chance to move to a different area that you have always loved but couldn’t afford when looking for a family home.</p> <p><strong>Are there any potential downsides?</strong></p> <p>As with all financial and property decisions, there could always be downsides. Smaller properties aren’t necessarily cheaper. For example, if you are moving from a house to an apartment you will now have to factor in strata fees to your ongoing budget. You may find it difficult to live happily in a smaller space or you might miss the home where you have lived for many years. Moving house can also mean moving suburbs, so be wary of being too far away from friends or services you use regularly. Selling your home can also potentially impact your eligibility for government benefits like the old age pension.</p> <p><strong>Get the right advice</strong></p> <p>These tips are just a basic overview to introduce you to the idea of downsizing. To make sure you make the right decision for you, it makes sense to speak with a financial advisor. You can find a list of registered advisors on the government’s MoneySmart website. The Department of Human Services also has Financial Information Service officers who can provide advice and runs a number of free seminars covering basic financial decisions.</p> <p>Have you considered downsizing?</p> <p><em>Any advice contained in this communication is general advice only. None of the information provided is, or should be considered to be, personal financial advice.</em></p>

Retirement Income

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Should I stay or should I go now?

<p>Downsizing is a common option for New Zealand seniors; their home is no longer suitable for their level of mobility, it has become too expensive and difficult to maintain, or there is a desire to free up equity in order to maintain an enjoyable lifestyle.</p> <p>One of the benefits of taking out a Heartland Reverse Mortgage – a choice more and more seniors are making – is that all of these issues can be resolved without having to leave the home.</p> <p><strong>Free to fly</strong></p> <p>Heartland Bank customer Jan*, is very happy with her decision to take out a Heartland Reverse Mortgage. It has allowed her to retire comfortably in the home she built in 1983.</p> <p>“I bought the land for the view and built a house that suits me, I really didn’t want to leave,” says Jan, who lives in central Otago. “But that became a real possibility, as I had a number of home improvements that needed to be addressed and I couldn’t afford them.”</p> <p>After using the reverse mortgage to give her home a much-needed facelift, Jan had enough left to indulge herself by taking a paragliding course!</p> <p>“I went for the first time on my 80th birthday and loved it! I was keen to go again, and it was just as incredible – you’re as free as a bird!” the 84-year-old says.  </p> <p>“Waking up at 3am worrying about how you’re going to pay expenses isn’t a nice way to live. I’m so glad that I could use my biggest asset to ensure that life is as enjoyable as it can be!”</p> <p><strong>Factors to consider</strong></p> <p>A house is often more than bricks and mortar; it's a home full of memories, where you feel comfortable and connected. If you are strongly attached to your home and/or community, a reverse mortgage may be a better option than selling up and possibly having to move further afield. It will allow you to access the funding you need without having to uproot to an unfamiliar neighbourhood or a smaller space that’s possibly less conducive to family visits.</p> <p>Another point worth considering is the effort associated with moving, particularly if you are downsizing and need to reduce belongings.</p> <p>There are also a number of financial implications involved in downsizing. Between agent fees, marketing and more, selling up and moving on can be expensive.</p> <p><strong>Conclusion</strong></p> <p>If the upkeep of your property has become too much, downsizing may be the more appealing option. However, the important thing is to understand that it’s not your only option!</p> <p><em>*Jan has preferred not to disclose her surname.</em></p> <p>If you’ve decided that staying in your own home and releasing equity is the right solution, <a href="https://www.seniorsfinance.co.nz?utm_source=oversixty&amp;utm_medium=article" target="_blank"><span style="text-decoration: underline;"><strong>get in touch with</strong></span></a> us to discuss how it can work for you.</p> <p align="center"><strong>Heartland Seniors Finance</strong></p> <p align="center"><strong>0800 488 740</strong></p> <p><em>Heartland Seniors Finance is a division of Heartland Bank Limited. Heartland Bank Limited’s lending criteria, fees and charges apply.</em></p> <p>THIS IS A SPONSORED CONTENT PIECE BROUGHT TO YOU BY <a href="https://www.seniorsfinance.co.nz?utm_source=oversixty&amp;utm_medium=article" target="_blank"><span style="text-decoration: underline;"><strong>HEARTLAND SENIORS FINANCE.</strong></span></a></p>

Retirement Income