There’s no such thing as a money tree, right?
If there was, retirement planning would certainly be much easier.
If you’re one of the lucky ones, though – a retiree with substantial equity in your home – you’ve already got the next best thing to that money tree. The only question is, when and how should you cash in on it?
Retirement planning, in general, involves a very personal decision-making process. This is certainly true when you’re considering anything to do with your home. It is likely the biggest purchase you’ve ever made, it may represent an important goal you’ve accomplished, and it allows you to feel a sense of security in an ever-changing world. For all these reasons, it’s a complicated decision to transform all or part of this asset into retirement capital.