His advice to people who may have had retirement thrust upon them earlier than planned: Do a cash - flow projection that includes current expenses and portfolio returns, and
consider tapping home equity.
If you have high - interest credit card debt that you can't seem to pay off, you might
consider tapping your home equity for a consolidation loan at much lower rates.
Not exact matches
Here's a rundown of what's driving the trend, along with advice on how to join it — and on some alternatives you should
consider before
tapping your
home equity through refinancing.
A homeowner with no other assets, though, might
consider tapping into
home equity to diversify its portfolio.
If
tapping home equity is only a temporary solution to bridge the gap until you start to draw down your retirement assets or start receiving guaranteed income payments,
consider applying for a
home equity line of credit while you're still employed and more likely to qualify for the best rates.
Those already in retirement who can't qualify for a line of credit may need to
consider a reverse mortgage, which is another way to
tap your
home equity, albeit likely at a higher interest rate and with less flexibility.
Homeowners 62 years of age or older may want to
consider tapping into their
home equity as a means of supplementing their income.
Your best option, though, when
considering the many ways to
tap into your
home equity is to meet with a skilled financial expert.
Older homeowners looking for ways to raise current income may
consider tapping into their
home equity by using a reverse mortgage.
Hot Links Reverse Mortgages Older homeowners looking for ways to raise current income may
consider tapping into their
home equity by using a reverse mortgage.
Those who have
equity built up in their
homes can
consider tapping it with a HELOC, a
home equity line of credit.
If you've decided that you need either a
home equity loan or a line of credit, here are six tips for
tapping home equity that you might not have
considered before:
If you own a
home, you might also
consider tapping into the
equity by taking out a reverse mortgage or downsizing to smaller, less expensive digs to come away with a chunk of extra cash that can supplement your nest egg.
If you have
equity in your
home, you might be
considering tapping it to make
home improvements, consolidate debt or pay for... Continue Reading — >
If you have
equity in your
home, for example, you might
consider tapping it with a reverse mortgage that can provide a lump sum, monthly payments or a credit line you can draw on as needed.
The spend safely in retirement strategy recommends you
consider delaying retirement, reducing expenses, getting a retirement job and / or
tapping your
home equity to fill in the gaps.
Clearly, there are many more issues you'll want to
consider before downsizing, including whether you might just be better off
tapping home equity in some other way, such as with a reverse mortgage.
You may need to
consider making the tough decision to sell your
home or downsize rather than
tapping into your
equity in an attempt to keep your
home.
Before deciding to pursue a HECM,
consider how long you plan to stay in you
home and how much
equity you really need to
tap.
You can scale back your lifestyle and spending, postpone retirement until your chances improve or
consider other adjustments such as working part - time in retirement,
tapping home equity with a reverse mortgage or even relocating to an area with lower living costs.
The following are three reasons why
tapping into your
home's
equity may not be such a great idea, and why you might want to
consider other options to help you make smart decisions about paying for college.