For more information about the author, click to view their website: Chad Choate III, AAMS | Financial Advisor | Edward Jones
When you
retire, you’ll experience many changes — should one of them involve your living
arrangements?
The issue
of downsizing is one that many retirees will consider. If you have children,
and they’ve grown and left the home, you might find yourself with more space
than you really need. Of course, this doesn’t necessarily mean you must pack up
and scale down yourself. You might love your home and neighborhood and see no
reason to go. But if you’re open to a change, you could find that moving to a
smaller house, a condo or an apartment may make sense for you.
Let’s
consider some of the advantages of downsizing:
• You
could save money. Moving to a smaller space could lower your utility bills
and upkeep costs.
• You could
save effort. A smaller home will mean less maintenance and cleaning.
• You
could de-clutter. Over the years, most of us accumulate more possessions
than we really need. Downsizing gives you a chance to de-clutter. And you can
do some good along the way, too, because many charitable organizations will
welcome some of your items.
• You
could make money. If you’ve had your home for many years, it’s certainly
possible that it’s worth more — perhaps a great deal more — than what you paid
for it. So, when you sell it, you could pocket a lot of money — possibly
without being taxed on the gains. Generally, if you’ve lived in your home for
at least two years in the five-year period before you sold it, you can exclude
$250,000 of capital gains, if you’re single, or $500,000 if you’re married and
file taxes jointly. (You’ll want to consult with your tax advisor, though,
before selling your home, to ensure you’re eligible for the exclusion,
especially if you do own multiple homes. Issues can arise in connection with
determining one’s “primary” residence.)
While
downsizing does offer some potentially big benefits, it can also entail some
drawbacks. First of all, it’s possible that your home might not be worth as
much as you had hoped, which means you won’t clear as much money from the sale
as you anticipated. Also, If you still were paying off a mortgage on your
bigger home, you may have been deducting the interest payments on your taxes —
a deduction that might be reduced or lost to you if you purchase a
less-expensive condo or become a renter. Besides these financial factors, there’s
the ordinary hassle of packing and moving. And if you’re going to a much
smaller living space, you may not have much room for family members who want to
visit or occasionally spend the night.
So, as you
can see, you’ll need to weigh a variety of financial, practical and emotional
issues when deciding whether to downsize. And you will also want to communicate
your thoughts to grown children or other family members who may someday have
reason to be involved in your living space. In short, it’s a big decision — so give
it the attention it deserves.
This article was written by Edward Jones for use by your local Edward
Jones Financial Advisor:
Chad Choate III, AAMS
Bradenton's Riverwalk
828 3rd Ave W Bradenton, FL 34205
941-462-2445
chad.choate@edwardjones.com
Edward Jones, Member SIPC
It was a momentous occasion in Bradenton on May 1, 2025, as we welcomed a very special guest Ellie Hollander, President & CEO of Meals on Wheels America. Her visit was more than ceremonial; it was a heartfelt celebration of community, service, and the vital work being done across Florida to nourish and support our seniors.Ellie flew in from the Washington, D.C. area as the keynote speaker for the Meals on Wheels Florida annual conference, proudly hosted this year by Meals on Wheels PLUS of Manatee. Ellies schedule was packed, but that did not stop her from doing an interview with MySuncoast ABC-7 telling viewers how critical the meal program is to our homebound seniors. Next, Ellie hit the road and delivered meals to some of our senior clients and talked with our volunteers. Ellie also stopped by our Friendship Dining Center program, and participated in a music game the clients love.The Members of the Florida Chapter of Meals on Wheels America named Maribeth Phillips, our President & CEO, as their Board President earlier this year. Maribeth invited Ellie to attend and kickoff the conference. Ellie shared valuable insights with the members in attendance, and her words reenergized the room!The conference included meal providers from across the state, with over 20 different organizations attending. Attendees also heard from Bob Blancato, Executive Director of NANASP, also from Washington, D.C.; Bradenton Police Detective, Jim Curulla on senior scams; Sandra Tapfumaneyi, Chief of Emergency Management Sarasota; Louise Gallagher on Senior Mental Health; and Jennifer Huber from FPL. Chef2Home provided a delicious breakfast and lunch.We are proud to be part of the national network of Meals on Wheels America and grateful to be a part of the state-wide chapter, Meals on Wheels Florida, both working every day to ensure no senior goes hungry.
As summer approaches, many children in our community are looking forward to sunshine, fun, and time with friends. But for far too many, summer brings something else-hunger.When school cafeterias close for the summer, thousands of local children lose access to the nutritious meals they depend on. Families already struggling to make ends meet are faced with even more pressure. The emotional toll is real. No parent should have to worry if they can feed their child, and no child should go to bed with an empty stomach.At The Food Bank of Manatee, we are stepping up to meet the need. We partner with over 100 local food pantries across Manatee County to reach the families who need us mostbut we cant do it alone.This summer, our goal is to provide: 22,500 meals each week across the 9-week summer break. Thats more than 200,000 meals for children and familiesand every dollar makes a difference.Just $15 provides 10 meals; $30 provides 20 meals; a gift of $150 will provide 100 meals!We know that many in our community want to make a difference. With your support, we can ensure no child goes hungry during the summer months.Please consider making a gift today and sharing this message with others who want to help too. A link to our page is below. A $25,000 Matching Gift to feed children this summer has been offered by an anonymous fund at Manatee Community Foundation. Gifts will be matched $1 for $1 up to $25,000.The Food Bank of Manatee is the only food bank based in our county. We anticipate continued need as families look for nutritional support. Your help matters now more than ever! Please give today!Together, we can bring relief, peace of mind, and full bellies to those who need it most.
On Monday, April 7, 2025, we had the joy and honor of hosting our annual Volunteer Luncheon, a heartfelt celebration dedicated to the incredible individuals who make our mission possible each and every day. Held in a spirit of gratitude and community, the event brought together volunteers with over 100 hours of service for a beautiful luncheon provided by Metz Chef 2 Home. The highlight of the event was the presentation of awards to several outstanding volunteers who have gone above and beyond in their service. From delivering meals with a smile to lending a helping hand wherever needed, these volunteers embody the true spirit of giving.The 2025 award recipients included:Champions Circle: Ten Years of ServiceDan WilhelmChampions Circle: 300+ Hours of ServiceTerri HillChampions Circle: 300+ Hours of ServicePat McDonaldOutstanding Food Bank Volunteer: Terri HillOutstanding Volunteer Ambassador: Veronica Brandon-MillerOutstanding Youth Volunteer: Jonathan MaassenMost Generous Group Ambassador: Lakewood Ranch Elks LodgeOutstanding Volunteer Group: First WatchOutstanding Administrative Volunteer: Barbara BrownOutstanding Friendship Dining Center Volunteer: Pam O ConnorOutstanding Car Loader: Charlie GunnOutstanding Warehouse Volunteer: Lana PaulRookies of the Year: Jeff and Christy MohlerOutstanding Daybreak Adult Day Center Volunteer: Larry BreidenbachOutstanding Telephone Reassurance Volunteer: Reina HuertaVolunteer of the Year: Terri HillTo every volunteer who gives their time and heartthank you. Our Volunteers are the reason we are able to serve our neighbors in need with care, dignity, and hope. We look forward to another year of making a difference together.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Experience and BackgroundI am a financial advisor in Bradenton, FL, and began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals.As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that.Whether you're planning for retirement, saving for college for children or grandchildren, or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service.But we're not alone. Thousands of people and advanced technology support our office so that we can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals.I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program.I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.