Are you hoping to downsize in your retirement? Move to a smaller home? Have less stuff? Have lower and fewer bills?

The Equifax Personal Finance Blog may have the answer for you. Equifax real estate expert Ilyce Glink reports on a home at the University of Hertfordshire, UK, that is just 3x3x3 meters, or approximately 9.8’x9.8’x9.8’.

Okay. You probably don’t want to downsize quite so much, but the home has everything a single person needs – a small bed, a table and two chairs, a lounge, a kitchenette and a full size shower. Not only that, this house is kind to the environment. It produces more energy than it uses and has a composting toilet. To take a look and read more, see the full article, “The Cube Project: What Would You Give Up To Live In A Tiny House?”

The small house may make you stop and wonder how much stuff you really need to take with you into your new home. Do you really need all of this stuff? Do your children really want you to save all the mementos from kindergarten?

A Wall Street Journal article by June Fletcher, “How to Downsize Your House,” has tips from an expert. One idea is to work in concentric circles. Start with items that are the greatest distance from your main living areas. Places like the storage shed, garage or attic are mostly likely to have things you haven’t used in years and are more likely to do without. Work inward toward extra bedrooms, game rooms and hobby rooms. While you may use them more frequently, you probably still have some extras stashed in these locations. Continue moving inward to your main living areas. The items in these rooms are likely things you use regularly and will want to keep.

If you start feeling like your new place is going to be too small, visit the Equifax Personal Finance Blog to gain some perspective. Your place won’t really that small, will it?

According to the retirement expert on the Equifax Personal Finance Blog, a pre-nuptial agreement is especially important for seniors as they enter their second (or third…or fourth…) marriages. In his article “Pay Now or Pay Later: Why You Need  a Prenup,”  expert Dan Solin reports that a higher percentage of these marriages among seniors end in divorce than marriages in the general population. If you’re perusing this blog because  you’re ready to tie the knot (again) and move with your new love into a resort-style retirement community, you may want to take care of some other matters first.

Solin says that, depending on your location, state laws may give your new spouse certain rights in the case of your death, even if you have provisions in your will or trust that conflict with what the laws provide. By being open and honest about your assets and your wishes before your marriage, you can avoid heartache for your heirs.

Solin gives guidelines for setting up a prenuptial agreement, including seeking professional help from a family lawyer with considerable experience setting up prenups in your state. You should create a situation that’s fair to both parties, or the courts may not uphold it. And, perhaps Read More→