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Health & Fitness

HOME OWNERSHIP & YOUR NET WORTH

In today’s world, retirement is a hot topic which, as people age, obviously becomes extremely important.  While many of us think of things such as IRAs and mutual funds when it comes to planning for those golden years, home ownership is another integral factor which is not always considered. 

Plain and simple, owning a home substantially improves the financial position of those preparing for retirement because residential equity represents virtually two-thirds of retiree assets.  With this, sixty percent of homeowners have paid off their homes, which means that a large portion of those nearing retirement have no mortgage. 

While it’s no secret to any of us that the housing market has taken some severe dips over the last eight years, overall market trends are always increasing, which means that home values have an amazing potential to grow.  In this regard, homes are depositories of savings and those reaching retirement are in a unique position to take advantage of this extra source of income.

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Therefore, if you’re beginning to plan for your future and are interested in strategies which will help build your net worth, speak with a mortgage consultant who will help you leverage your home ownership.  While you may have varying short- and long-term goals, a great consultant should be able to offer a diverse portfolio of high-quality mortgage products at very competitive rates.


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