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Dear Chuck,

My parents are retired and have a very low interest rate on a small amount of remaining mortgage. They told me they want to sell their home and rent, thinking they will save money. I am gathering information to help them. Would you suggest they rent or keep owning their home?

Retired: Rent or Buy?

Dear Retired: Rent or Buy?

It depends. I don’t have the full financial picture of your parents, so I don’t want to give advice based on false assumptions. Let me disclose a few assumptions from your question:

They are feeling financially insecure.

Their home value is not such that paying cash for another, smaller home is an option.

They have other things they want to do with their time than maintain a home.

Renters by choice

Many people who are 55 and over desi

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