Helena Talbot's blog - Retiring For The Budget-Conscious

Being budget conscious does not necessarily mean that you have to deprive yourself of an enjoyable retirement. Of course the more money you have to retire with, the less you’ll have to worry and the best way to boost your retirement fund is to start saving early. Even those with limited retirement funds can benefit from some smart planning.

Re-Evaluate what you need

The first step is to create a retirement spending plan – where do you stand? The most important thing to consider when you create your retirement spending plan is whether or not the plan is reasonable. If it’s not, you probably won’t stick to it.

Mistake #1; the biggest mistake prospective retirees make is when they do not take a hard look at their overall retirement situation. Is your nest egg enough to generate retirement income for the next decade or more? Take a good look at your retirement situation because it could be time to downsize.

How much annual income will you need during retirement?

Financial planners suggest that you’ll need about 75 to 85 percent of your pre-retirement gross income to maintain your current standard of living. Of course, this can vary according to your lifestyle.

During retirement, you will pay less in taxes, save less, and you should have less of a mortgage burden than you did while working. While many expenses will decrease during retirement, many will increase.

Mistake #2; one in 10 Americans choose to downsize early, at the onset of retirement. Early planning to downsize to more affordable lifestyles can save you thousands every year. Only recently during our economic downfall have Americans began planning for retirement sooner than later. Why wait until you’re under water and barely surviving?

The practical alternative is smaller

Who said you would have to sacrifice the amenities when you downsize? The American dream was built around the idea of bigger is better but lifestyles have changed and the aging population are opting out of the “big” notions and choosing to keep it small. Retirees are turning to alternatives.

Whether it’s one-floor ranch styled homes, modular homes and manufactured homes or perhaps a home on wheels, retirees have a bevy of options to reduce living expenses.

Think about this – retirees require only the basics for living, sleeping, cooking and bathing. Do you really need several bedrooms, a family room, dining room, basement and more? This only translates into more electricity, more rooms to clean and more expenses.

Smart seniors realize that small can be advantageous, especially to the pockets.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia. 

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800   www.facebook.com/LoudounCountyConnect  www.twitter.com/ExitAshburn  www.Linkedin.com/in/HelenaTalbot