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Reply to "I always hear that people are living beyond their means, but…"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The rapid rise in housing has/will offset the current set of UMC people living beyond their means. If they've paid off their house while it shot up in value, that's a lot of equity to pull out through a reverse mortgage to keep the money flowing. [/quote] We have a ton of equity in our large home. At some point, we will tire of keeping it up with the kids gone and downsize to something we can devote minimal time to running. We should be able to maintain our current lifestyle into our late 90s. [/quote] 90s? [/quote] Yes, equivalent spending, not all activities obviously. :wink: [/quote]
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