Use Your Home To Boost Your Retirement Nest Egg

The largest financial asset for most Americans is their home. At the same time, one of the biggest expenses in retirement can be housing. If you’re willing to make some changes in your lifestyle, you can use your home to boost your retirement nest egg.

Plan to take advantage of your home’s equity when you retire.

Use your home to boost your retirement nest egg

Often, as we prepare to retire, we find ourselves with a lot more house than we really need. Downsizing can be a great way to access some of the cash tied up in your home, and — if you’re willing to relocate — you can enjoy a great retirement and spend a lot less on housing, too. Here are some cities where the median price of a home was less than $100,000 in 2010.

  1. Alpena, Michigan
  2. Augusta, Georgia
  3. Columbus, Ohio
  4. Memphis, Tennessee
  5. Milwaukee, Wisconsin
  6. Mobile, Alabama
  7. Pittsburgh, Pennsylvania
  8. Port Charlotte, Florida
  9. Springfield, Missouri
  10. Syracuse, New York

Each of these options has much to offer and there are many other interesting and inexpensive locations that may be just right for you. Plan ahead, do some research and use your home to boost your retirement nest egg.

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