“Is home equity included in net worth when calculating a retirement budget?”
“Is having a mortgage in retirement risky?”
“Was it a good idea for you (Go Curry Cracker) to get a mortgage?”
These questions (and others of a similar genre) are amongst the more popular we have received over the years. (Even more so now that we bought a house.)
Today I want to review mortgages, home equity, and related questions as they pertain to retirement budgeting and spending.
Prior to this time a year ago, I had never purchased lumber in my life.
But then I walked into one of those big box home improvement stores to purchase some outdoor furniture for the deck and the pool, and I was blown away by how poorly all of that stuff was made. And they wanted thousands of dollars for this junk… stuff that was probably going to break in just a season or two.
So… I set out to make my own. “How hard could it be?”