Reply to Counting home value in net worth

Forum Index » Money and Finances

Reply to "Counting home value in net worth"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I understand that it is part of the definition. But I’m not spending that money during retirement so I don’t count it. The same way I don’t count the 529’s, which are also massive. [/quote]
Our house is paid off. Not having a mortgage does matter for retirement planning.[/quote]

So is ours, what is your point? It’s still not throwing off income the way that investments do. The only way it creates income is buy selling it or borrowing against it, neither of which I’m going to do. Therefore it’s not part of my retirement income plan. [/quote]

But if you need to you can sell it and move to something smaller/cheaper.  Many people are still living in large homes their raised their families in.  They can 100% get something smaller for less if they need to. 
And if you need to sell the home and move to a retirement facility, you can use the home value as you own it.

[/quote]

I could but the whole point is I don’t want to so I’m saving accordingly. If you have to sell your house to afford your life you are overextended. [/quote]

That is one opinion. But the fact remains, your home value is Part of your networth, and could be sold if needed.

But I agree, we don't consider our two homes that we fully own in our retirement calculations, as we purchased recently and those are ones we plan to live in thru retirement (as our health allows).

[/quote]

But once your health doesn’t allow, they will be sold and used to fund assisted living. Thus, an asset and part of your net worth.[/quote]

Definately!  I agreed with you on that!

In our case, they 99% likely won't need to be sold to fund LTC and will go to our kids if they want them.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics