Here are things you can do with real estate, after you retire:
1. Pay Off Your Mortgage. Do nothing else, continue living as you have been, but become debt free from your home loan.
2. Invest In Real Estate (Rental). This can be a great choice and an good retirement income...FOR SOME...not for those who want to "lay back" and relax. Do ALL research about being a landlord before you jump!
3.Own A Second Home. Always wanted a vacation home? Nows the time to enjoy it, while you can! Just be prepared for extra expenses such as taxes, maintenance, and maybe a 2nd mortgage!
4. Renovate Your Current Home. Love your current home? Then stay where you are and renovate according to your needs( and possibly for the needs of others)...like adding a pool, finishing the basement for visitors, updating the kitchen, and putting in that walk-in shower!
5. Downsize! Stay in current location, but buy something that is more manageable for you! Don't let emotions and attachment to your current home make that decision for you. If it is too big and not condusive to fit your needs as you are aging, then find something that will work nicely. Don't wait until it's too late!
6. Relocate. It's ok to consider moving to a different location to enjoy your retirement. You have earned it. Remember, life is too short!