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Homeownership and Retirement

Homeownership and retirement

SECURE YOUR FUTURE THROUGH HOMEOWNERSHIP

HOMEOWNERSHIP AND RETIREMENT

Everyone should save money for retirement. Another way to look at this is to say that everyone should be building a net worth that is convertible to cash when the time for retirement arrives. For many households, income is insufficient to cover the cost of the lifestyle that family members aspire to. It is hard to save money. Studies show that more and more aging Americans know that they will have to work, in some capacity, in their retirement years. Many aging Americans will never fully retire. Savings and investments for many retirees are insufficient to maintain a desirable lifestyle. As a result, it is important to take the necessary steps to keep the cost of living down.

Owning a home free of debt is the most important thing that someone can do to position themselves for a manageable cost of living in retirement. The best thing that people can do to own a home free of mortgage debt is to start buying down the principle balance of a mortgage loan now. The contribution to equity increases with every payment made when the mortgage loan is a fully amortized loan. The sooner people acknowledge that owning their home free and clear is an important financial objective and buy a house the better off they will be. There are many important reasons to buy a home. Financial security in retirement is one of them.

CALL TO ACTION

It is time to buy a house. Mike Levine & Associates in conjunction with reliable business partners from various housing related industries will walk you through the purchasing process seamlessly. Call, text or email today to get started on this important journey. Happy House Hunting!

Written by Mike Levine. Century 21 World Properties’ Broker and Owner. Part 3 of 3. Contact Mike Levine.