Sell, Rent, or Borrow? Best Ways to Use Home Equity in Retirement

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 2 April 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listener Ray is wondering what to do with his home as he embarks on a nomadic, van-life journey in retirement. Should he sell it to finance his travels or retain it for potential appreciation and cash flow? James explores the nuances of home ownership as an asset versus an investment. He considers cash flow and leverage as he looks at Ray’s three options – sell, rent, or borrow – while emphasizing aligning financial decisions with personal goals and aspirations. Questions Answered: Wh...

Transcript

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0:00.0	On today's episode, we're going to be responding to Ray, who wants to know what he should do with his home as he prepares to retire and travel the country.
0:06.9	Should he sell it and use the proceeds to live on to fund some of those travels?
0:10.4	Or should he keep it?
0:11.6	Taking advantage of the appreciation over time and potentially accessing the equity in another way.
0:16.0	All that and more on today's episode of Ready for Retirement.
0:21.0	This is another episode of Ready for Retirement. This is another episode of Ready for Retirement.
0:23.6	I'm your host, James Canole, and I'm here to teach you how to get the most of the
0:26.5	life with your money.
0:27.9	And now, on to the episode.
0:31.5	So let's jump right in.
0:33.0	Ray submitted the following question.
0:34.4	He says this, Hello, James.
0:36.0	I really enjoy your videos.
0:37.2	You are a gifted teacher. I'd like to suggest
0:39.2	slash requests that you consider a video topic called should I sell my home and invest
0:43.2	the proceeds or continue owning my home and let it continue to appreciate. I'm 65 years old
0:48.5	and I'm entering retirement. I plan on either selling or renting my home in approximately two
0:52.8	years and then living on the road full time in a converted ban.
0:56.1	I am puzzled about the sell slash own home asset issue.
0:59.9	Thank you for your help, Ray.
1:01.7	Well, thank you, Ray, for that question.
1:03.2	And here's why I like it.
	...

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