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Maximizing Your Home Pension

Last update on: Aug 18 2021

The most neglected assets in retirement and financial plans probably are the family home and home equity.

Even though these are among the most valuable assets most people have, they are, at best, an afterthought in planning. Home equity should be an integral part of your retirement plan, and that makes it what I call a “home pension.”

Your financial security can be enhanced when you plan how to use home equity during your retirement. There are several effective strategies to consider.

In this episode of the Retirement Watch Spotlight series, I’ll explain the key strategies retirees can use to turn home equity into a stream of income and cash flow. We’re going to look at the strengths and weaknesses of each strategy, and who should consider using each of them. You’ll learn that you might not have to leave your home to convert the equity into cash flow.

The earlier you plan, the more flexibility you have. However, it’s never too late to explore how to maximize the value of your home equity.

In next month’s Spotlight:

We’re going to cover 11 essential Estate Planning documents and strategies you must have.

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