Owning a home is an essential part of the American Dream. This is especially true for our generation, which grew up at a time when traditional family living, centered around the cozy home with a well-maintained lawn and a white picket fence, was idealized in magazines and on TV.

In fact, our big homes have become so much a part of our lives that we can’t imagine life without them… even when they no longer meet our needs.

Well, today, I want to argue that our definition of the American Dream might need some adjusting as we approach our retirement years. Instead of assuming that “bigger is better,” perhaps, when it comes to our homes, we need to consider the possibility that “less is more.”

Here are 4 reasons to consider moving to a smaller home in your 50s or 60s.

Free Up Your Capital to Invest in Your Financial Future

Let’s be honest, despite being called “the richest generation of all time,” most of us baby boomers haven’t done a great job of saving for retirement. But, if there is one saving grace to our situation it is that many of us own our homes free and clear.

The obvious challenge is that the money in our homes is “locked up.”

One option, of course, would be to take a reverse mortgage. But, as you probably know, the fees and terms associated with this type of agreement can be torturous. I’m not saying that reverse mortgages are always wrong, but, if you are in your 50s or even 60s, you probably have better options.

Another option would be to rent your home (or even just a room) on Airbnb. This can actually be surprisingly lucrative, but, it requires you to deal with strangers, taxes and other management issues.

So, at the end of the day, perhaps the easiest way to free up your home is also the most obvious – to sell it and move to a smaller place.

How much could selling your home in your 50s impact your retirement? Let’s look at the numbers. To simplify, I’m going to ignore closing costs and other fees.

If you sold your home, at age 50, for $400,000 and moved into a small, $250,000 condo, you could free up $150,000 to invest. If you achieved a 9.8% return (the 90-year historical average for the S&P 500) and left your money for 20 years, you would have an additional $886,000 for retirement!

I’m not giving any financial advice here. But, I hope that this gives you something to discuss with your financial advisor. He or she can help you to crunch all of the numbers and decide whether selling your home makes sense in your personal situation.

Reduce the Stress, Time and Money Needed to Maintain Your Home

For several years after my kids left the house, I continued to live in a 5-bedroom home on the outskirts of Seattle. Even with no-one around to do laundry for, I probably spent an hour or two every day, cleaning, gardening, dusting, wiping, vacuuming, scrubbing and sorting.

Now, I live in a one-room studio apartment and I can honestly say that I have never been happier. Everything in my home has a story to tell. Every cup is precious and every postcard is a time machine.

How much time do I spend cleaning now? Probably 15 minutes a day… tops!

I’m not saying that you need to move to a studio or tiny home to get the most from your 50s and 60s. I’m simply inviting you to challenge your assumptions about how much space you really need.

What would you do if you had an extra hour every day? Would you finally go to the gym? Would you stop using that gentle yoga DVD as a coaster and start using it to build your balance and flexibility? Would you start a business? Learn a new skill? Something else?

At our age, time is our greatest asset. It’s simply too valuable to spend with “Mr Muscle.”

Kick Start Your Downsizing (Rightsizing!) Adventure

“Downsizing” has become a trendy word in recent years. As a matter of fact, I’m actually not a big fan of downsizing… I much prefer the concept of “rightsizing,” which involves giving up the things that don’t make you happy to make room for the things that delight and inspire you.

But, here’s the thing. When you are in a big house, it’s easy to ignore all the stuff around you. My 3-car garage was filled with boxes from floor to ceiling before I started my first rightsizing wave. I say “first,” because rightsizing has been a stop and go process for me for the last decade.

One of the most challenging (and ultimately life-changing) experiences that you go through when you move into a smaller home is that you are forced to confront the pile of “stuff” that you have acquired over the last 50+ years.

Yes, some of these items can be sold to fuel your retirement. But, the primary benefit of rightsizing in your 50s is that it frees up mental space to focus on the things that make you happy.

So, don’t wait until you are 70 to start organizing your life. Use your big move to kickstart your rightsizing adventure now!

Save Money on Utilities, Taxes and Other Costs

When you are working and raising a family, “small” house costs like utilities, taxes and maintenance don’t seem to matter that much in the great scheme of things.

But, I can promise you one thing… once you reach retirement, every single penny will matter. This is true whether you have $1,000,000 in the bank or $1,000.

Not only could moving to a smaller home give you more money to invest for your future, but, it could also be one element of your “practice retirement.” In other words, getting into the habit of eliminating small recurring costs today will set you up for financial success in the future.

Could you see yourself moving to a smaller house in the years leading up to retirement? Why or why not?

Hannah Ann Sluss’ White Floral Dress in Australia

The Bachelor Season 24 Episode 11 Fashion

Hannah Ann Sluss’ white floral dress on tonight’s part one season finale episode of The Bachelor is I think now the 1235645th (sorry, I’ve lost count) summery floral dress from Revolve that we’ve seen her wear in Australia. And while we’ll have to wait and see whether or not she’s the one Peter ends up “bringing home” to his mom in California (my grandma thinks it ends up being Hannah Brown lol), I think it’s safe to say that this gal definitely already has the perfect wardrobe packed in that suitcase for her next trip to paradise Paradise. 

Fashionably,

Faryn

Click Here to See Her Sold Out LPA Dress

Click Here to Shop Her Calpak Suitcase in White or Black Marble

Originally posted at: Hannah Ann Sluss’ White Floral Dress

This is the time of year when it feels like winter is lasting forever. Even if it’s not ultra-cold anymore, there’s still a chill in the air, especially at night, and the heat is pumping inside. That can often leave to seriously dry skin. We rounded up the best night cream to help battle those conditions and get your skin in check. You don’t have to deal with dry and dehydrated skin just because it’s winter. There are non-greasy moisturizers to try for hydrating all skin types.

There are a lot of reasons for dry skin. You could be over-cleansing skin or exfoliating and stripping it of its natural oils or you could be taking too-hot showers. It could also be genetic (sorry!) or caused by your skin being out in winter’s tough temperatures. Or maybe you have a skin condition or other health-related issue. (You’ll want to go see a dermatologist for that.) There isn’t one answer and there’s not really one perfect cream either.

Below, there’s a hydrating night cream for everyone. Nighttime moisturizers tend to be heavier because your skin is doing all the work at night. It’s repairing, restoring and regenerating cells. It’s called beauty sleep for a reason. You want the lotion to penetrate deep into your skin for hours while you’re in bed. You know how you wake up and your skin feels soft and supple? Your moisturizer really did its job and you chose the best night cream for you.

You don’t have to spend a million dollars and go ultra-fancy to hydrate dry skin. Shop some of our favorites below, starting at $16.

Charlotte Tilbury.

Charlotte Tilbury Charlotte’s Magic Night Cream

This oil-based, rich moisturizer is a favorite for its time-released retinol and red algae marigel to smooth and plump skin.

It Cosmetics.

It Cosmetics Confidence in Your Beauty Sleep Night Cream

With skin-loving ceramides and hyaluronic acid, this night cream feels luxe to the touch.

Laneige.

Laneige Water Sleeping Mask

What the brand calls “hydro ionized mineral water” works to replenish skin while you sleep.

REN Skincare.

REN Evercalm Overnight Recovery Balm

Dry and sensitive skin will love the way enzymatically activated oils leave skin feeling ultra-hydrated.

belif.

Belif Believe in Truth The True Cream Aqua Bomb

This Korean beauty favorite is a weightless gel-cream that feels cool and refreshing to the skin.

Image: Renée Rouleau.

Renée Rouleau Skin Recovery Lotion

Those with dry skin that’s still prone to breakouts will go crazy for this lightweight moisturizer that addresses dehydration without clogging pores.

Image: Sunday Riley.

Sunday Riley Ice Ceramide Moisturizing Cream

This pro-ceramide moisturizer strengthens the skin’s barrier while you sleep.

Image: Embryolisse.

Embryolisse Lait Crème Concentré Face And Body Moisturizer

This classic cream uses shea butter, beeswax, soy proteins and aloe vera to soothe irritated winter skin.

Our mission at STYLECASTER is to bring style to the people, and we only feature products we think you’ll love as much as we do. Please note that if you purchase something by clicking on a link within this story, we may receive a small commission of the sale and the retailer may receive certain auditable data for accounting purposes.

When I was growing up, my family never discussed money. It wasn’t that my parents or grandparents though that money was “evil.” It’s just that, like many working-class families, we didn’t have much to discuss… or so we thought!

My dad worked as an auto mechanic and my mom, prior to her untimely death, when I was still a teenager, stayed home to look after us kids. So, I never learned about credit, loans, interest rates, savings or a hundred other financial topics that would have come in useful as an adult.

I certainly wouldn’t blame my parents for the financial mistakes that I made in my life. Every single one of them – from not saving enough for retirement to buying at the top of the last housing bubble – were mine and I own them.

That said, it occurs to me that many of the financial problems that we face as adults could be avoided if our parents and grandparents talked with us about money when we were still kids.

Of course, the idea that parents should talk to their kids about money may be obvious. But, many would question the idea that grandparents also have a responsibility to share their financial mistakes with their grandkids. After all, isn’t the world serious enough? Shouldn’t grandparents just relax and have fun with their grandkids?

I don’t think so. In fact, I plan on sharing all of my financial failures and successes with my grandkids. I hope that they can learn from my mistakes… or, at the very least, recognize their own mistakes when they inevitably make them!

If you are still on the fence about this idea, here are 3 reasons to share your money mistakes with your grandkids.

Parents Are Busy, Distracted and Proud

When it comes to my grandkids, I realize and accept the fact that my adult children are in charge. I always ask them before bringing up difficult topics with their kids. After all, it’s ultimately their decision how their kids are raised.

That said, once I got permission from my kids, I started talking to my grandkids about money. There were several reasons for this.

First, parents are busy. I totally get the fact that, after a long day at work, the last thing you want to do is come home and talk to your kids about money. If you get an hour in the morning and an hour at night, you barely have time to ask your kids to tell you about their day before getting them ready for bed.

Second, nobody likes to admit their mistakes – especially to their kids. After all, your kids look up to you. You are their hero. Telling them about your ballooning credit card debt or the bad investment decisions that you have made is about as appealing as getting a root canal.

As a result of this reluctance, kids often go without the financial education that they desperately need and end up making the same money mistakes as their parents.

As grandparents, with the permission of our own kids, of course, we can help to fill in this financial education gap. At age 70, I’m not proud. After 7 decades on this planet, I can finally talk honestly about my financial failures – and successes! I just want my grandkids to be happy and successful.

We Have So Much Financial Wisdom to Share

Do you remember how you felt the first time that you realized that you had gotten in over your head with your credit cards? How about the first time that you received a call from a debt collector? Do you recall the first time that you jumped into a deal that was “too good to be true?” These are all valuable experiences to share with your grandkids.

Likewise, it’s not just the specific examples of our money mistakes that are important. We can also share the money principles that we have learned along the way.

For example, I would encourage my grandkids to apply the following rules in their life:

• If you want to be rich, get in the habit of making other people’s lives better.
• Never use a credit card for personal costs
• Save 10% of everything you earn
• If a financial opportunity feels “too good to be true,” it is
• As Warren Buffett said, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
• Always be building your own business, even if you work for someone else
• There is no substitute for working hard, except for working smart

These are just a few of the many things that I want to tell my grandkids. Of course, I have horror stories (and a few fairytales) to go along with each of these principles. My hope is that my grandkids remember at least a few of them.

Sharing Your Money Mistakes is Like Therapy

I debated adding this “reason to share your money mistakes with your grandkids.” At the end of the day, you decided to add it because I believe that it is important.

I know so many older adults that feel sorry for themselves when they are approaching retirement or recently retired. From about 50% of us, there is a collecting sigh of “I can’t believe this happened to me. How could things have gotten so messed up?” This question is usually followed by a hundred excuses like “It’s so unfair that I lost my house in the Great Recession” Or “If only my jerk husband hadn’t run off with…”

Sharing your money mistakes isn’t just good for your grandkids; it’s good for you too. When you “own” your mistakes, you have a chance to fix them.

Contrary to popular belief, it is still possible to make serious money in your 50s, 60s or beyond. But, first, you need to stop feeling sorry for yourself. It wasn’t until I admitted my mistakes that I started to get my financial life back on track.

At the end of the day, sharing your financial mistakes and successes with your grandkids is good for everyone involved; your grandkids get the financial information they need to make better decisions, their parents get help with a difficult conversation and you gain new insights into your own situation.

What financial advice would you share with your grandkids? Do you think that grandparents should be involved in teaching their grandchildren about money? Why or why not? 

While everyone is nervous about Coronavirus, the best thing you can do if you’re currently healthy is to listen to the CDC. One of the most important instructions we should all be doing is washing our hands for at least 20 seconds. So, we rounded up the best hand sanitizer lotion to help keep you healthy. These aren’t a substitute for handwashing, of course, but they can help kill germs in addition to hydrating your hands. With all this extra washing, your hands might be feeling a bit raw and need a little extra love.

The best part about these antibacterial lotions? They aren’t sold out—just yet, at least. They’re great for travel when you want to kill those 99.99 percent of germs and know you’re heading to wash your hands soon. Many of these also contain skin moisturizers as well as barrier-protecting ingredients such as shea butter that will help keep soft and smooth to the touch and the elements out.

There’s a hand sanitizer lotion depending on how you want your hands to feel and smell. Prefer totally fragrance-free? We’ve got you covered. Or maybe you want to smell some calming lavender as you’re reading the news. You don’t have to spend a bunch of money, either. There’s no reason to drain your bank account when soap and water work just fine. But you might as well spend a few bucks and treat yourself to hydrated hands—at least until the next time you wash them. Shop some of our favorites, below.

Avlo.

Avlo Travel & Cruise Protective Hand Lotion

Pack this travel-sized lotion in your handbag for germ-killing on the go.

Buy: Travel & Cruise Protective Hand Lotion $29.99

Dermaglove Medical.

Dermaglove Medical Scented Sanitizer Hand Science

This pH-balancing moisturizer promises to hydrate hands for up to eight hours.

Buy: Scented Sanitizer Hand Science $28.99

GermBloc.

GermBloc Hand Sanitizer Lotion

This alcohol-free hand sanitizer says it won’t dry out your hands.

R&R.

R&R I.C. Hand Sanitizer Lotion

Another alcohol-free choice is this lotion that contains vitamins A, D, and E.

Buy: Hand Sanitizer Lotion $10.88

Saje Wellness.

Saje Wellness Clean Hands Cleansing Hand Lotion

This lotion smooths skin and leaves behind a subtle scent of lavender and patchouli.

Thursday’s Plantation.

Thursday Plantation Tea Tree Antiseptic Cream

Tea tree oil treats dry and inflamed skin, while gently antiseptic kills germs.

Buy: Tea Tree Antiseptic Cream $9.25

Waltz Free.

Waltz Free Hand Sanitizer Lotion

Like the others, this lotion doesn’t replace washing your hands but it will hydrate skin and kill germs with seven moisturizers and six botanical extracts.

Buy: Hand Sanitizer Lotion $16.84

Our mission at STYLECASTER is to bring style to the people, and we only feature products we think you’ll love as much as we do. Please note that if you purchase something by clicking on a link within this story, we may receive a small commission of the sale and the retailer may receive certain auditable data for accounting purposes.