Downsizing in Australia - Mark O'Shea | Page 19

Dean Lupson Is the majority of your personal wealth tied up in equity in your home? With the unbelievable growth in property prices over the past 20 years, freeing up equity (tax-free cash) is an easy way to put that money into a smaller home, a holiday home, a sea change, a tree change, more holidays throughout the year, or many more lifestyle changes. Your children don’t need your money—you earned it, so enjoy it! Once you have decided to downsize, the question becomes, When should I downsize? You want to do it in a way that will not cause a major interruption to the quality of your life and the lives of your immediate family. You need a plan! 019