The last three years have been a veritable roller coaster ride for the economy – and all of us are doing our best to navigate the ups and downs. Inflation, interest rate increases and rising costs of living have all made a significant dent in our collective pocketbooks – and this has been especially challenging for seniors.
Of course, uncertainty about the future can make effective decision-making more challenging. So let’s walk through some aspects you should consider when deciding your next move. For renters, regardless of whether they reside in a condo, apartment, or a senior 55+ building, monthly rent often covers various expenses. However, the uncertainty of annual rent increases can pose challenges to budgeting if not disclosed well in advance. Having a clear understanding of the projected annual costs for the next four years or beyond becomes crucial in effectively managing and allocating retirement income.