Nate Willardson, CFP® was quoted in Kiplinger’s Wealth Wise column, sharing expert retirement planning advice on whether to sell or keep a rental property heading into retirement.
On stress-testing your income: “Hoping to have enough income in retirement is not a winning strategy. Before deciding whether to sell or keep the Arizona property, stress-test your income sources against different inflationary environments to understand what could happen to your purchasing power over time.”
On what most retirees prefer: “Selling and reinvesting those assets for growth elsewhere is often the cleaner path. Most retirees prefer simplicity when it comes to their portfolios.”
On hiring a property manager as a middle ground: “If you want to hold the property but shed the administrative burden, a local property manager costs roughly 8% to 10% of monthly rent and buys you real peace of mind from 2,000 miles away.”
On timing a sale strategically: “If you do sell, time it strategically. A lower-income year can reduce both capital gains exposure and the IRMAA impact on your Medicare premiums.”
