My wife and I are in our 70s. Should we move to California and take on a bigger mortgage to be near our kids?
News Source
β’Sun, 06 Sep 2026 20:00:00 GMT
π° What Happened
A couple in their 70s is asking whether to move to California. They would take on a bigger mortgage to live near their kids. MarketWatch's advice column takes on the question.
The column weighs family closeness against financial risk. Retirees usually live on fixed incomes. Taking on new debt late in life is a serious risk.
The answer probably suggests renting nearby first. That keeps flexibility without a huge loan. The story reflects a common choice for older families.
π The Backstory
MarketWatch's Moneyist column answers readers' money questions. Many older Americans dream of living near their children. California has some of the highest home prices in the country.
A big mortgage in retirement can drain savings fast. Home prices and property taxes only grow. Advisers often suggest renting before buying. Thoughtful planning keeps retirement savings safe.
π― Why It Matters
Many families face the same hard choice between love and money. Smart planning lets seniors be near family without risking their future. The advice helps retirees decide with open eyes.
A couple in their 70s is asking whether to move to California. They would take on a bigger mortgage to live near their kids. MarketWatch's advice column takes on the question.
The column weighs family closeness against financial risk. Retirees usually live on fixed incomes. Taking on new debt late in life is a serious risk.
The answer probably suggests renting nearby first. That keeps flexibility without a huge loan. The story reflects a common choice for older families.
MarketWatch's Moneyist column answers readers' money questions. Many older Americans dream of living near their children. California has some of the highest home prices in the country.
A big mortgage in retirement can drain savings fast. Home prices and property taxes only grow. Advisers often suggest renting before buying. Thoughtful planning keeps retirement savings safe.
Many families face the same hard choice between love and money. Smart planning lets seniors be near family without risking their future. The advice helps retirees decide with open eyes.