In the not-too-recent past, you could expect the equity in your house to provide not only a portion of your future retirement nest egg but also the distinct possibility that you had enough to move, possibly even to another location and have your new home paid-for. Not that those dreams are necessarily dashed completely. In fact, if you currently own your home (I must say that calling a home with a thirty-year mortgage as something you own has always struck me as ironic.), you might still be able to do what you had planned.
But some things have changed. Let’s start with the dream of moving to downsize. In most areas of the country, with a few notable exceptions, home prices have stabilized and have even begun to modestly recover. More on this new retirement plan consideration.
More from Paul Petillo, Managing editor of Target2025.com
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