Downsizing in Retirement: Comprehensive Guide As we age, many of us desire to live in a more manageable space, both financially and practically. Downsizing in retirement is a common way to achieve this goal. It involves restructuring your living situation to fit your current needs and lifestyle by reducing the size of your home and possessions. Downsizing can bring many benefits, such as reducing maintenance costs, creating a more accessible living environment, and freeing up time to pursue more enjoyable activities.