Retirement

Not sure how it’s going to play out? Need some insight on different scenarios? Talk to a Invis broker. You’ll find out there are a lot more options available to help you jumpstart your new lifestyle than you may think. For example, ever thought about tapping into your home equity? Get informed!

Your revenue

With less revenue coming in, you’ll have to adapt your life accordingly. That said, there’s a silver lining in retirement.

You can say goodbye to daily commuting, daily restaurant meals, impulsive shopping at nearby boutiques and all those other expenses that empty your wallet.
A golden retirement is in your reach, even if you still have mortgage payments to make. The key is managing your money so that your income always exceeds your expenses.

• Evaluate all your retirement income sources
• Make a list of all your fixed expenses
• Think about creating a cushion for unexpected expenses
• Estimate how much you will need for leisure expenses and entertainment, to enjoy life
• Create a balanced budget

Your debts

Don’t make managing your debts in retirement a source of stress. We’ve got some tips for you.
Pay off your mortgage before you retire, or at least get it down as far as possible.

Refinance your mortgage so you can start working on that project you’ve been dreaming about. 

• Take many trips or take the trip of a lifetime
• Buy a second home nearby or abroad
• Get your revovations done and improve your quality of life
• Adapt your property to your current physical condition
• Buy a recreational vehicle (sailboat, sports car, etc.)
• Invest in your children’s or grandchildren’s education

What’s the key to not stress out and get the most out of life while you’ve still got your health?

• Pay back your mortgage over a longer period of time in order to lower your payments
• Think about your mortgage payment as a type of rent
• Be open to the idea that your mortgage won’t be paid off in your lifetime
• Inform your successors of your plan to avoid surprises 
• Be confident that your debt will be taken care by your successors
• Make your successors aware of your plans to avoid surprises down the road

Your property

Upon retirement, your property could become an important source of revenue, to supplement loss of other revenue. This is mostly due to the fact that your property has increased in value over the years, and that capital gain is now available to you. Take advantage!

Upon retirement, your property could become an important source of revenue, to supplement loss of other revenue. This is mostly due to the fact that your property has increased in value over the years, and that capital gain is now available to you. Take advantage!

To maximize the benefit of your increased property value, you can get it evaluated, in order to know its current market value, then, calculate its net value, and refinance your mortage in a way that works for you. 

No longer working and finally having time to breath doesn’t mean you’re going to stop doing anything. Quite the contrary, the time to get to those projects you’ve been dreaming about is now. 

A Invis broker can show you many different refinancing scenarios that respond to you specific situation. 

Thanks to your broker, you can take full advantage of your property as a source of revenue so you can be comfortable in your retirement.

Move or stay put for your retirement?

There are lots of different ways to reflect on this question.

• Never-ending housework and home maintenance
• The mortgage balance
• The possibility of moving closer to the children
• Free up some cash to better enjoy life
• The property value in today’s market
• A yearning to move back to your hometown
• The desire to start fresh, and face new challenges
• Less income coming in
• The dream of moving to the country
• The opportunity to finally get everything organized
• The desire to purge and downsize
• Necessary renovations can finally get done
• The cost of a new property and the associated fees
• The stress of moving
• The risk of regretting your decision

It’s important to have a good look at your situation to make the right decision.  

Rent before you buy

Do you picture yourself moving when you retire? Have you thought about rent before buying? It’s a good way to be sure that the new neighborhood you want to be in is truly right for you.

• Neighborhood or area you want to be in
• All the amenities nearby
• Access to health services
• Availability of activities and entertainment
• Proximity to public transport
• Green spaces and nature
• Safety and security