By Morgan Quinn

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Retirees often opt to downsize to smaller houses. However, some of today's seniors are taking this trend to another level by jumping on the tiny home bandwagon. In fact, 40 percent of current tiny house owners are 50 or older, according to SeniorPlanet.org.

Retiring to a tiny house can allow seniors to reap numerous economic benefits. According to the Integrating Transportation and Community Planning program (iTRaC), 89 percent of tiny house owners have less credit card debt than the average American, and 65 percent have none at all. Additionally, tiny home owners have about 55 percent more savings in the bank. If you want to live a simpler life while protecting yourself from economic uncertainty,downsizing to a tiny house might make a lot of sense.

Here are 10 reasons that you should consider joining the tiny house movement when you retire.