Advice for Retirees When Downsizing: Part 2 of 5

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When downsizing, you may be lucky enough to walk away with some extra cash at closing.

To make the most of that money, the best thing to do is invest some – if not all – of it right away, before it’s suddenly gone.

“People have a tendency to look at that as found money” and spend it too quickly, explained Larry Luxenberg, managing partner with Lexington Avenue Capital Management, a financial advisory firm in New City, N.Y.

Image via flickr/401(k) 2012

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