ADVERTISING INDEX
Ed Slott and Company .......... Cover 3 800-663-1340 info @ irahelp . com irahelp . com
Federated Hermes ................. Cover 2
Financial Advisor : CE Center .................................. 31 fa-mag . com / ce _ center . php
Financial Advisor : Invest In Women ..................... 5 , 7 https :// faconferences . com / iiw25 /
Financial Advisor : Invest In Women LinkedIn ......... 42 http :// bit . ly / 4akywwB
Financial Advisor : LinkedIn ..................................... 4 http :// bit . ly / 2XJBXsJ
Financial Advisor : FANews .................................... 33 fa-mag . com
Financial Advisor : Podcasts — Invest In Women ...... 47 fa-mag . com / invest-in-women
Financial Advisor : Webcast Archives ....................... 6 fa-mag . com / archived _ webcasts
Foundation for Financial Planning .................................... 18 FFPprobono . org / donate
Jackson ....................................... Cover 4 Patrick Rich 615-861-5432 patrick . rich @ jackson . com jackson . com
MassMutual Ascend ........................... 3 MassMutualAscend . com
Permanent Portfolio Family of Funds ........................... 10 Jordan C . Clopton 866-792-6547 jordan @ permportfunds . com permanentportfoliofunds . com
Silicon Valley Community Foundation ..................................... 16-17 Liza Hanks 650-450-5418 lhanks @ siliconvalleycf . org siliconvalleycf . org
Sound Income Group ..................................................... 9 Erika Wilson 954-870-6720 ewilson @ soundincomegroup . com soundincomegroup . com
For advertising rates and space reservations , contact your regional advertising director :
Publisher | Sales Director , Northeast and Mid-Atlantic Sandra Croce 732-559-4232 | sandra @ famagazine . com
Sales Director , Central Alexandria Fazzari 732-559-4213 | alex @ famagazine . com ly surprised by how much the relocation enhanced his quality of life . “ Although the cost of our smaller home was about the same as our larger one ,” he says , “ the overall living experience has been much more enjoyable .”
To be sure , “ quality of life ” can be hard to quantify . Where clients choose to live may involve a complex , emotional minefield . A home that ’ s been occupied for many years is often full of precious memories .
To balance the emotional and financial considerations of moving , many advisors stress the importance of zeroing in on their clients ’ true motivations and goals . Do the clients really need to save money , or is the decision to move more a matter of streamlining their lives ? Do they want to be nearer to children and grandchildren , or perhaps to bask in a warmer climate ?
To be sure , “ quality of life ” can be hard to quantify . Where clients choose to live may involve a complex , emotional minefield .
“ Downsizing a home is really not the right approach ,” says Jason Bottenfield , a managing director at the Park Cities Group at Steward Partners in Dallas . “ Simplifying their household should be the new moniker .”
That simplification can take many forms , he says . To anticipate any infirmities that come with aging , for example , clients might need to leave a two- or three-story house for a single-story home . They may want to leave an old place and go to something built more recently to reduce the potential for broken pipes and other hassles .
Whatever the case , he says , “ you ’ re really just trying to simplify your life with fewer stairs , lower property taxes or less maintenance [ such as ] not having a pool to clean or large square footage to tend .” Single-family homes , he says , are “ not great investments as you get older . The work that goes into them can be burdensome on time or your money .”
If simplifying the client ’ s life is the primary objective , then there is no particular right or wrong time to move , he says . The best time for giving up a family home is “ whenever your plan for life in retirement makes sense to do it .”
DECEMBER 2024 | FINANCIAL ADVISOR MAGAZINE | 59