When it comes to retirement, is it better to rent or buy a place to live? In this video, Adriane Berg, founder of Generation Bold and author of Bottom Line’s Aging for Beginners blog, goes over the pros and cons of each option. Consider how important—both financially and psychologically—home ownership is to you. If you are not comfortable living in a house that you don’t own, consider the potential for appreciating home values in the neighborhood of your choice. Ultimately, every situation is unique. Beyond the pros and cons of renting and buying, be sure to consider your own preferences and financial situation when making your choice. If you do decide to buy a house, get a long mortgage that will offer some much needed tax breaks while keeping your expenses as low as possible.

For more great tips from Adriane Berg, check out her Bottom Line blog “Aging for Beginners,” visit her website https://adrianeberg.me, or purchase her most recent book How Not to Go Broke at 102.