Over the past few years, we have seen an increasing number of our clients begin to downsize their homes. The demographics of this group are quite similar: retired, over age 65, empty nesters, may be single or married. Many people are opting to move from their large homes in the suburbs to a smaller condo or townhouse near one of the downtown cores in the region.
Questions that are often asked include:
- Should I buy or rent? The answer to this question is a matter of personal preference. Many people feel a greater sense of security in knowing that they own their home. In some cases, renting can be a more favourable option, depending on the costs.
- What do we do with our surplus cash? Having someone guide you through the numbers to
determine your cash flow requirements and the amount of surplus can give you peace of mind. Investing any surplus cash can help offset some of the costs. A good quality investment portfolio can also help to build your net worth or your legacy to pass down to your children or grandchildren.
At the Patel Advisory Group of RBC Wealth Management – Dominion Securities, we provide our clients with knowledgeable and proactive financial advice delivered with a friendly, personal touch.
Parvez Patel
Investment Advisor
Patel Advisory Group
RBC Dominion Securities
519-747-9475
Parvez.patel@rbc.com