If you've been pondering on the idea of downsizing, you're not alone.

Why Downsize?

As record number of baby boomers reach retirement age, many are asking the question "do I need this much house?" Reasons for downsizing vary widely depending on individual needs and motivations. Some retirees find that stairs have become more difficult to navigate with age while others feel that once the kids have moved out, maintaining a big house no longer makes sense.

One Woman's Reasons

Six years ago, Minh Doran sold her house and bought a two bedroom and two bath condo in Waikiki. When asked what compelled her to make the move to downsize, she responded "the kids were scattered across the country, my husband passed away, maintaining a four bedroom and two bath house on a half acre felt like walking into the wind with a parachute strapped on my back." After buying her condo, Doran had extra cash from the sale of her house which she used to buy an investment condo that now provides her with a positive monthly cash flow.

What About All My Stuff?

There's no doubt that many people feel intimidated by the amount of work it'll take to downsize. After all, they've accumulated a lot of stuff and lived with it for many years. Expunging that stuff can be a daunting and emotional task.