Culture
Recycles dryer sheets
- Joined
- Apr 15, 2007
- Messages
- 491
I know there is no right answer to this question as there are many variables, but I am curious about the group's general position and thoughts on this topic.
For purposes of this question, it is assumed 1) you own the house outright, 2) you are fully retired and 3) all income is from investments (no pension).
What percentage of your total new worth do you feel is reasonable to have in home equity during your retirement phase. I.e., if your NW was $1.5M, how much of this would be be comfortable being in your house vs. investments earning income?
I am going to retire in nine months and the wife and I are purchasing our retirement house (paying cash). I originally planned for the retirement house to be about 8% of NW, but after looking around it looks like it will more likely be 11-12%. Does this sound nuts to you? Is it in the right ballpark IYHO? Are there any non-obvious questions I should be asking myself about this?
I realize that what this is essentially asking is how much of your income stream are you willing to give up to own a nicer house. Thanks for your feedback. I love this forum!
For purposes of this question, it is assumed 1) you own the house outright, 2) you are fully retired and 3) all income is from investments (no pension).
What percentage of your total new worth do you feel is reasonable to have in home equity during your retirement phase. I.e., if your NW was $1.5M, how much of this would be be comfortable being in your house vs. investments earning income?
I am going to retire in nine months and the wife and I are purchasing our retirement house (paying cash). I originally planned for the retirement house to be about 8% of NW, but after looking around it looks like it will more likely be 11-12%. Does this sound nuts to you? Is it in the right ballpark IYHO? Are there any non-obvious questions I should be asking myself about this?
I realize that what this is essentially asking is how much of your income stream are you willing to give up to own a nicer house. Thanks for your feedback. I love this forum!