Making money: Renting in retirement, and more

3 top pieces of financial advice — from capital gains strategies to mixing up your portfolio

Older homeowners might want to sell their big empty houses and start renting instead.
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Renting in retirement

Older homeowners are often urged to sell their big family house and buy a smaller one. But for some, it might make more sense to rent, said Jeff Brown at The Street. "Clearly, this goes against the grain." But renting requires less cash up front than a purchase, which is appealing if you have "a special need" for extra cash or a "juicy investment opportunity." Renting also gives you flexibility if your health deteriorates and you need to move to an assisted-living facility. The rule of thumb: If there's a good chance you'll stay for 10 years, buy. If the odds favor moving in less than five years, rent. "Between five and 10 years, it's a tougher call and will hinge on a detailed look at the numbers."

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