Move into a smaller home too early, and you miss out on the opportunity to put additional money into super. Leave it too late, and you might not be up to the task.
Bernie Ramsay, 57, and his wife downsized three years ago. They sold their family home of 30 years, a five-bedroom house in the Sydney suburb of Menai.
With their two adult kids moved out, Ramsay, who works full-time in the medical supplies industry, felt it was time for the couple to focus on themselves, enjoy their hobbies and travel.
Michelle BowesWealth reporterMichelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
