January 30, 2019

9 Ways to Rescue Your Retirement in 2019

8. Get help from your home

If you own a home, the equity may well be your biggest source of wealth. Two common ways to tap it are taking a reverse mortgage or selling the home and downsizing, investing the profit in a retirement account.

Maybe you don’t want to sell or take on debt. There are other ways to use your home as a retirement asset.

For example, you could rent a room to a boarder or get a housemate, occasionally rent part of the home to vacation travelers or rent it out while you travel. Or you could move to a cheaper location.

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