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[quote=Anonymous][quote=Anonymous]You can probably refinance but I really think you are on shaky ground for retirement long term.  You've got very limited savings and income.  I would seriously downsize and pay off most of the loans with your home equity.  Even a $1 million house would give you a lot more finanical security.

The maintenance on 2 houses alone must eat up a lot of your income? [/quote]

We are open to downsizing and will most likely do so in the next five years. What I would like clarification is why you think we are on shaky ground for retirement with our current savings. We dip into savings less than the earnings. If one looks at our savings over the last five years since retirement, our savings in absolute terms has increased without considering inflation ..... and even allowing for inflation, the impact has been modest.

The second home is fully paid and our only expense is the condo fees.

Quite honestly, if we downsized, our lifestyle would not change ........ we'd probably just give more money to our kids and grandkids.

Having said this, I do accept that the level of indebtedness on our house is not typical of retirees.[/quote]

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