Being an empty nester gives you an opportunity to enjoy life as you near retirement. Consider your life transitions in many ways. These are the years to enjoy your peak earning years while planning for future transitions.
The biggest downsizing challenge faced is usually deciding where to start the process. Cleaning out and selling a home you may have lived in for a lifetime can be a very emotional experience.
Life transition planning for retirement may simply be addressing concerns for aging in place while living in your current home.
Maintaining independent living later in life can be difficult because things like health and home maintenance concerns often get in the way.
I've met many people who have struggled through the estate settlement process. It's a huge responsibility that quickly becomes complex for you to navigate if you're lacking a strong probate strategy.