There are lots of reasons, including keeping your mind/body active for a more healthy and enjoyable life, but one is simply that it can be very difficult, if not impossible, to accurately predict what your future expenses will be.
I have a relative-by-marriage who has a fairly large tract of land that has been in the family for generations. Unfortunately, it is near enough to Houston to be caught up in the urban sprawl, and they will soon be unable to afford the taxes as the value of the land is assessed ever higher. Their only choice is to sell the land, and that seems to me to be an injustice and a travesty.
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