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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]38 and 40
 HHI 275K
~$400k in various 401k/TSP plans (I think it's approaching 450k because of the current stock market)
Two federal pensions (both currently feds), and unless our jobs get eliminated, we plan on being fully vested with around 35 years of service when we retire

We also have a home that, thanks to the increase in local real estate prices, is conservatively valued at  $1.1 million, and we owe ~400k remaining on the mortgage.  I think that people overlook home equity when thinking about how much you "have" for retirement. [b] My mother always rented, and once she retired things got very tight[/b].[/quote]

+1.  Main reason I moved from Manhattan.  I couldn't imagine renting in retirement.  [/quote]

+1. While I'm not particularly interested in home ownership (at all) and don't own right now -- I view home ownership as part of retirement planning bc I really don't want to be in a position in retirement where my income is fixed but my rent goes up hundreds of dollars/yr. Felt the same way when I lived in Manhattan -- what do you do if your retirement is budgeted just so and there's a huge rent increase OR even if you own and there's a jump in maintenance or an assessment bc the building needs a new roof or something??

Don't know how I'll make it work bc I like the flexibility of renting -- i.e. being able to switch job locations etc. Maybe I'll buy 5-10 yrs before retirement with a huge down payment. [b]Honestly it's also why I'm somewhat considering a rental property -- equity will be built someplace even if I don't live in it and even if it costs me a few hundred a month if renters don't cover every single cost; then when it's paid off, I can either live in it or sell, cash out, and use that cash to buy someplace else. Is that irrational??[/b][/quote]

I'm a big advocate of home ownership, but if you don't want to own your primary residence,  you absolutely should be doing this at a minimum. I own a rental on the Florida Gulf Coast and the renters are paying for my future final residence. Taxes are non existent and we just became profitable, which we put right back into the house.

We have a healthy 401k, and hope to cash out a good 2m in real estate that goes into our pocket.[/quote]

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