Downsizing and Simplifying in Retirement: Ideas for downsizing and simplifying your lifestyle in retirement [PODCAST 22]

The decision to downsize and find a new home in retirement is a significant milestone, and discovering the perfect balance of cost and comfort can have a profound impact on your quality of life. Tim Regan, Founder of PrairieView Wealth, and Katie Umland, Head of Marketing, discuss how to properly plan ahead in this latest episode. 

Are you considering downsizing in retirement but unsure how to strike the perfect balance between cost, comfort, and convenience? In this episode of Retirement Readiness, Tim Regan and Katie Umland share their insights from years of experience helping clients build custom retirement plans. 

The golden years of retirement should be a time of relaxation, enjoyment, and new experiences – and much of that hinges on your living arrangements. With so many different retirement living options available, it can be helpful to explore and compare various styles of housing and communities to determine which will best suit your unique preferences. Some retirees may prefer a quiet, rural setting with ample outdoor recreation opportunities, while others might gravitate toward buzzing urban centers with easy access to cultural experiences, shopping, and dining. 

And, of course, retirement communities offer a variety of maintenance-free living solutions. By researching different types of retirement housing options and touring potential communities, you can gain a better understanding of the benefits and drawbacks of each choice, allowing you to make a well-informed decision that supports your ideal retirement lifestyle. 

Ultimately, the key to a successful downsizing experience in retirement is careful planning and honest self-assessment. Acknowledge your priorities and the lifestyle that will bring you the most happiness and satisfaction in your golden years.

Listen to the full episode to hear Regan and Umland discuss how to make the best decision regarding your retirement living situation, plus explore the pros and cons of the most popular options available. 

Key Timestamps

  • 00:00:54 – Downsizing is a personal decision that depends on an individual’s lifestyle and preferences. While downsizing may seem like it saves costs, it can also become expensive if an individual wants luxurious amenities.
  • 00:05:00 – Retirement communities are a popular option for individuals who want to live in a community and have access to amenities.
  • 00:07:02 – Designing a home for retirement should take into account an individual’s lifestyle and preferences, including accommodating family visits.
  • 00:13:07 – When choosing a retirement location, it’s important to think about what activities you see yourself doing, where your family and church are located, and whether a second home is necessary.
  • 00:13:45 – When considering a second home, it’s important to take into account the maintenance required.
  • 00:15:20 – It’s important to not get too caught up in the idea that your current home will be your last move. Instead, focus on what you want to do and where you see yourself for the next decade or so, and make choices based on those goals.

Key Takeaways

  1. The decisions to downsize in retirement should factor in your values, lifestyle, potential costs, proximity to family and more. 
  2. A smaller home doesn’t necessarily mean lower costs – especially if you’re seeking more luxurious amenities in your golden years.
  3. Retirement communities are a great option for retirees who want to live in a maintenance-free community and have access to amenities.


  1. PrairieView Wealth
  2. PrairieView’s Youtube

Build the Retirement of Your Dreams

Your journey to retirement is one of a kind – just like you. Here at PrairieView, we help our clients create a plan for a future that fulfills their individual values and desires. Click here to connect with a member of the PrairieView Wealth team today. 





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Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. PrairieView Wealth Partners and Thrivent Advisor Network, LLC are not affiliated companies. Information in this message is for the intended recipient[s] only. Please visit our website for important disclosures. Securities offered through Purshe Kaplan Sterling Investments(“PKS”), Member FINRA/SIPC. PKS is headquartered at 80 State Street, Albany, NY 12207. PKS and PrairieView Wealth Partners are not affiliated companies. The material presented includes information and opinions provided by a party not related to Thrivent Advisor Network. It has been obtained from sources deemed reliable; but no independent verification has been made, nor is its accuracy or completeness guaranteed. The opinions expressed may not necessarily represent those of Thrivent Advisor Network or its affiliates. They are provided solely for information purposes and are not to be construed as solicitations or offers to buy or sell any products, securities or services. They also do not include all fees or expenses that may be incurred by investing in specific products. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. You cannot invest directly in an index. The opinions expressed are subject to change as subsequent conditions vary. Thrivent Advisor Network and its affiliates accept no liability for loss or damage of any kind arising from the use of this information.  


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