Years ago, when people retired usually at 65 years old, it was often to a rocking chair life style. Unless someone has serious health issues, that is just not true any more. Very often people who retire are just as busy in retirement as they were when their worked. Some are getting jobs and or are doing consulting in their field. Others are very involved in charity work supporting various worthy causes. In some cases, healthy seniors work to earn a little extra money perhaps to take vacations or maybe to fund 529's for their grandchildren. And, since Medicare is means tested and far from free for many, others are working longer to deal with health care costs.
To some degree every one should consider their genetics. If you parents lived to be 85 or older, odds are pretty good that you will live at least that long unless you die from an accidental death. So the real question is, do you have the money in savings one way or another to get you to 90 because in all likelihood Social Security will only end up being about 25% of your income. This assumes that the federal government takes action soon to make sure that Social Security and Medicare remain solvent. As of now both are headed toward insolvency, which would mean lower Social Security payments and even higher cost for Medicare if government does not find a fix.
Unless you are very wealthy and money is not an issue, downsizing should probably be part of any retirement plan. Living actively for as long as possible should be the goal. Physical space just becomes more of a burden both from an expense and life style standpoint. Single story living is best. Buying more things later in life that your heirs will not want and will end up in a garage sale is probably not the best idea. Remember, you are trading dollars you may need later for things that will depreciate in value. Don't do it.
If you are thinking of downsizing as part of your retirement plan, just call Paragon Home Resources. We can assist with selling your home, buying a smaller one, dealing with household goods and many other valuable services to make moving easy. We assist our customers with life decisions. We understand that retirement has little to do with a rocking chair any more.