Power Your Retirement with the Help of Your Home Equity

 

Thinking about retiring this year? It’s never too early to start thinking about the next chapter in your life. The key is making sure you’re in a position to feel comfortable financially to live life on your terms and free (as much as possible) of the stresses of money.

 

One area you may not be focusing on is the hidden value you have in the value of your home. Take a look at this graph. The Federal Housing Finance Agency (FHFA) paints a clear picture of home value increases of up to nearly 60% over the past 5 years.

 

 

It is that appreciation that can provide a huge boost to your retirement.

To all those late term boomers out there, overall wealth has increased by $19 trillion or $486,000 per household. Over 50% of that increase is due to home appreciation.

 

If you purchased your home more than that, chances are you have even more equity in your home.

 

Making the move to downsize your home or maybe move to a more affordable area could free up some of that valuable equity to help you feel confident to retire now. It may also provide the stability to travel, spend more time with your kids or family and most importantly give you peace of mind that you can be more comfortable in retirement.

 

Here are just a few ways downsizing may be the right thing to do now:

 

If you’re thinking about retiring in 2025 and want to know if now is the perfect time to downsize using the hard earned equity you’ve earned in your home, let’s chat. We can quickly put together some numbers to see exactly where you stand and present options for your next move!