In future is it likely that people will have to use the equity in their homes to survive when they retire?
823758
Quite likely, as we can't afford to fund the future pensions (Government), the way pop.  incomes are going.\n\nWill
1095601
Do they need to be replaced soon or can it wait?  Why not start saving money every month in a money market account to pay for some or all of it without having to borrow.  Once you start borrowing against the house, it may never stop.  Plus, if you only have very little equity, you'll be upside down on your loan.  Then what happens if you have to sell?  Since you are a homeowner, it is imperative to have an emergency fund, usually 3-6 months expenses.\n\nYou can either save money and pay yourself or borrow money and pay a creditor.
736728
99.99% of the time you loose it if it is equity. Equity is the last obligation to be settled.  There is seldom anything left.
150305
Depending upon the state you live in...in the event of her death (sorry), you will probably inherit under community property laws. In the case of divorce, you just might be out a whole bunch of money. There is, however, some credibility towards you owning at least a piece of the equity based on the amount you pay. If she owned the house prior to marriage, it, generally speaking, is hers unless you end up on the deed. Get a lawyers opinion (sorry again).
650803
For many people it is their home or perhaps I should say the equity in their home. Not too many people actually own their homes outright. For others it might be their 401K if in fact they have a 401K. For many who just graduated from college, it is their education plus a ton load of liabilities if the form of education loans.
1016841
Almost simultaneously if you have equity and a good FICO.  On a new build in a hot real estate market you should have equity by the time the house is completed.\n\nYou maybe able to close the equity line when you close on the home.  \n\nSome buyers use an equity line for part of the downpayment and need it to close and that's doable.\n\nGood luck
220860
For sure, if you don't have enough money to pay the bills and you're going into debt, you might be putting too much money in your 401(k).  Likewise, if you're not saving enough for your children's education, you might want to limit your contributions and consider an Education IRA or a 529 plan, if you haven't already.\n\nThe only other situation that I can think of that might (and I emphasize might) warrant reducing your 401(k) contribution is looking at the inheritance tax situation of your future heirs.  If the estate is large enough, they will not only have to pay inheritance taxes on the estate, but also income tax on the 401(k) (at least that's how it was few years ago; I doubt the law has changed).  If the only liquid investment in the estate is the 401(k), the heirs might not have enough to pay all the taxes, forcing the sale of real estate, which neither you nor your heirs might want.  If this is your case, I'd recommend contacting a tax specialist.
218484
I don't know. But I think it's rising. more and more, people can't afford to retire. Plus some try to retire, and end up getting depression and stuff, and get a job again.
678634
My experience is that even experts don't really know. Long term is up, but when people panic it can go way down, then take years to recover. \n\nWhere to put excess funds may be the question. Looking back\nreal estate was a good place. No sure path to riches though!
1008119
If a peson retires and proceeds to spend all of his income as he receives it, you are correct. At some point he will need to adjust his lifestyle to meet his income.\n\nFar better to plan on living on HALF of one's retirement income, reinvesting the other half for future growth.
284351
The baby boomer generation reaching retirement will drastically change the overall look of the US.  As they have with every station in life they have reached. (ie... Education, Housing, Childcare, Employment) So... if you look at what is required NOW by seniors... believe that these industries will EXPLODE in the next 5-10 years as the Baby Boomers reach full retirement.\n\nWe also have to keep in mind that as we grow older, we are also now living longer... many of these "boomers" are still quite active and are looking for change.  Given that the majority of them will be able to collect social securtiy at age 65-68... many may be looking for part-time supplimental income, travel, housing, health and wellness, recreational activities.\n\nAs a society we should be prepared for the change that will occur when the over 60 become the majority population.  Many believe that this generation will bankrupt social security and put a tremendous strain on our health care system.\n\nPersonally, I am working to finance my own retirement.  I wouldn't want to get caught unprepared as so many of todays baby boomers are. (many have counted on large pensions from companies they have worked for for years...many such companies are not able to afford such pensions.)\n\nI love reading on this subject and there are some wonderful ideas and philosophies out there... contact me through my 360 page if you would like more info or to discuss this further.
405294
In the BIG PICTURE,yes. Population decline will make all dirt cheap, if it happens.
1130628
they are normally so rich that they can retire when they want
847601
Not drastically but then again remember Japan in the 1980's whent he R/E market bottomed out....\n\nThing is that densely populated metropolitan areas such as Hong Kong will typically hold value since housing is always at a premium i.e. demand exceeds supply.
208092
Some elder;y people use it to transfer ownership to relatives. It is not a very secure deed.
718766
You can.\nYou would most likely have to hire someone to care for the properties for you.\nThere are companies that do only that for people that either live outside the state or country.
623634
Those planning for retirement soon.