Here’s how to use your home equity in combination with an annuity contract to produce late-in-life income.
Editor’s note: The earlier article How Your Home Can Fill Gaps in Your Retirement Plan discussed the “why” of incorporating the equity in your home in your plan for retirement income. This article discusses the “how.”
In retirement, your home means something more than it did while you were raising kids, getting promotions at work, and dreaming about how the future might unfold.Now, it can provide the opportunity that helps you realize your future in retirement — financially at least.
For most of us, our house carries much more equity than it did when we were just starting out. Home prices have more than doubled in the past 20 years. How to use that equity to benefit you and your family is a key retirement question that your home can answer. But as you will see, it may work better when combined with an annuity contract that produces late-in-life income.
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