Nursing homes are very costly, although one's chances of going to a nursing home are fairly low. The decision depends on both the state of your health and your finances. Because I had an opportunity to continue to write on a free lance basis after I left my regular writing job at The Washington Post, I have been very busy. But it made me realize that it is very important to continue to be active in retirement. I think that long before you retire, you should decide what activities you want to pursue in retirement.
Retirement is a major change of lifestyle.
You tend to get cut off from friends at the office and many people miss their workplace. Stay active and stay involved with other people. That's important for a happy retirement. We estimate to purchase a condo, it would cost the entire net gain we will probably realize on our house. Many people I know are more comfortable knowing that they do not have a mortgage.