For many older Australians, the family home is their most valuable asset. As retirement progresses and the kids move out, downsizing to a smaller, more manageable property can seem like a smart financial move. It can free up cash, reduce maintenance costs, and even improve lifestyle. But for couples receiving or expecting to receive the Age Pension, this decision can come with an unexpected sting: a reduction or complete loss of their pension entitlements.
Downsizing Danger: How Unlocking Home Equity Could Cost You Your Age Pension
