Retirees tap investments for income- why not their home?
During their working years, retirees have dutifully saved or invested tens of thousands, if not hundreds of thousands of dollars for retirement, all in the hopes of withdrawing those funds during their non-working years. Rarely do you ever hear objections from family and friends when mom or dad begin taking withdrawals from their retirement accounts. After all, it’s their money, and theirs to do with as they wish. But what about the hard-earned home equity millions of Americans have saved over decades? Uh, but wait! Not so fast say family, friends, and financial pundits. You shouldn’t do that! Call it a sacred cow or an ingrained fallacy of personal finance- one that needs to be put out to pasture.
1 comment
Your 100 percent on point. I been a planner for 35 years and see many who would be so better off doing so.