JTOrt
Dryer sheet aficionado
How much home equity do you feel safe to move to your investment portfolio?
We are getting close to pulling the pin on our corporate careers for reasons well documented here. Approx 280k / year between both of us but it's getting unbearable. I'm 53 & DW is 51. We have 700k equity in our home but are willing to move away & downsize considerably, possibly to a manufactured home on an acreage. The extra 500k from our home would supplement our 1.3m investments nicely making for a comfortable retirement income. We are Canadian so don't have to worry about excessive medical expenses or capital gains on our home. I am concerned, however, on loosing so much equity in case of unseen expenses. We have an economical California property we plan on spending the snowy seasons at.
Has anyone used their home equity to finance a portion of their retirement income?
Tom.
We are getting close to pulling the pin on our corporate careers for reasons well documented here. Approx 280k / year between both of us but it's getting unbearable. I'm 53 & DW is 51. We have 700k equity in our home but are willing to move away & downsize considerably, possibly to a manufactured home on an acreage. The extra 500k from our home would supplement our 1.3m investments nicely making for a comfortable retirement income. We are Canadian so don't have to worry about excessive medical expenses or capital gains on our home. I am concerned, however, on loosing so much equity in case of unseen expenses. We have an economical California property we plan on spending the snowy seasons at.
Has anyone used their home equity to finance a portion of their retirement income?
Tom.
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