Renato Manias

While recent studies estimate the total savings needed for retirement at about $1 million, specialists caution against a one-size-fits-all approach, and many Australians could be “comfortable” on less.

Deciding to downsize involves a delicate balance between emotional ties and practical necessities. While the financial benefits can be worthwhile, it’s crucial that retirees approach this move with a clear understanding of their priorities and objectives.