Many people, while planning for retirement, will overlook a very crucial asset. And this asset is their home. More specifically, it is the equity that has built up over the years that you have on your home.
And unfortunately, people who have been renting for most of their lives, do not have that equity.
For most people the conventional pieces of retirement resources, which would be Social Security, pensions, and savings, completely ignores one of the most crucial and significant assets that anyone one would own. But now many people are realizing that their home it is a very important asset. They can access that Equity that is in their home in a few ways. You can take a reverse mortgage, or you can sell large house and downsize to something which is considerably smaller, less expensive, and also easier to care for.
So when you’re planning your return, don’t forget that very important asset. You’re home.