If you’re looking to diversify your retirement income streams – especially in a way that factors in inflation – investing in real estate can be one avenue to consider. Today’s article outlines four ways you can invest in real estate for retirement – investing in private mortgage funds, purchasing rental property, investing in real estate investment trusts, and cashing in home equity – and the pros and cons of each. For more, CLICK HERE.
Homeowners’ equity has climbed to its highest level ever – and yet few retirees are actually tapping their home equity in retirement. The author of today’s article notes that “maintaining home equity throughout retirement isn’t ideal in many situations, especially for older adults with significant housing wealth but dwindling portfolio values. For them, tapping home equity in some fashion…can be a sensible move.” She proceeds to outline the three main strategies when it comes to home equity and retirement – and the pros and cons of each. CLICK HERE.
$400,000. This is the amount the typical 65-year-old couple will need to save in order to pay for out-of-pocket medical and long-term care costs in old age, according to new estimates from Fidelity Benefits Consulting. As per today’s article, that amount is “$60,000 more than the typical couple’s entire savings at retirement, including equity in their home.” To read more about what the author describes as “a grim picture” – including the percentage of all 65-year-olds that will require at least some long-term supports and services before they die and what this all means for the typical couple, CLICK HERE.