Home Ownership

Homeownership isn't a retirement plan, but it can help you get there fasterOnce upon a time (i.e., 2006), the real estate market got so hot that it was common to hear people chatting about buying homes left and right. It became equally common for this excess of home equity to create a false sense of financial security, resulting in many homeowners saving less than they might have otherwise. Relying on home equity for retirement requires that you sell the place at some point, cashing out and moving somewhere cheaper (and potentially less desirable). But, there are a number of other ways your home can help you five, ten, even twenty years in advance of your planned retirement. Here are six strategies for using your home to help you retire—without having to sell the place and move to Timbuktu.