Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Is Downsizing Part Of Your Retirement Planning?

Sunday, August 19, 2012 - 8:18 AM
According to this Morningstar article,
The financial crisis taught many individuals a harsh lesson about casting their financial lots with a single, illiquid asset: their homes. ... [Although] median household net worth dropped by 35% between 2005 and 2010, according to U.S. Census Bureau data ...  home equity still makes up the greatest percentage of net worth in most households, accounting for more than $50,000 of the median household's net worth of $66,740 in 2010. And unlocking that home equity by downsizing is clearly part of the financial plan for many retirees and pre-retirees.

But downsizing may not be right or even necessary for everyone. 

Read more

pearlbrownpearlbrown1,491 posts since
Nov 2, 2010
Rep Points: 6,490