Confessions of one sahm

iVillage Member
Registered: 01-09-2009
Confessions of one sahm
3365
Fri, 04-03-2009 - 1:58pm

I've been thinking about this *debate* lately, and I think that many of my

********
Ducky

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iVillage Member
Registered: 03-26-2009
Sun, 07-05-2009 - 3:00pm
People who either have no equity in their home or ones that are relying on their own for retirement.
iVillage Member
Registered: 01-08-2009
Sun, 07-05-2009 - 3:05pm
She's not saying that.
iVillage Member
Registered: 03-26-2009
Sun, 07-05-2009 - 3:07pm

Retirement investments should be at least close to your home value.


Could you please explain what this means then.

iVillage Member
Registered: 10-08-1998
Sun, 07-05-2009 - 3:08pm
When did I say that?
iVillage Member
Registered: 01-08-2009
Sun, 07-05-2009 - 3:08pm
Well, that is nice, but I think what Amilla was saying is that for most people, their retirement will be much easier (if I am allowed to use that word here) if they have more to live on than just what their home is worth. If I sold my home tomorrow, I would have about 250K in my pocket after paying off the realtor and whatever. That would get me through what, five years or retirement? If my home were my largest investment, I would have less than 500K to live on after I retired, and that is NOT the scenario DH and I are going for!
iVillage Member
Registered: 10-08-1998
Sun, 07-05-2009 - 3:09pm
That is exactly what I meant.
iVillage Member
Registered: 03-26-2009
Sun, 07-05-2009 - 3:21pm

So you both are figuring that when you retire you will sell your home? Why? I don't plan to do that. I am not using my home as a financial vehicle for my retirement. I am also not figuring I would fully retire. Wouldn't you do some part time work for money after your retirement?


iVillage Member
Registered: 01-15-2006
Sun, 07-05-2009 - 3:21pm

why would it matter what your home is worth when you retire?

 

iVillage Member
Registered: 03-26-2009
Sun, 07-05-2009 - 3:23pm
EXACTLY. I have never thought that I would use my home towards my retirement. We probably won't move and if we do, we would move somewhere else in the country and that col will be much less so we wouldn't have a mortgage and much smaller bills.
iVillage Member
Registered: 01-08-2009
Sun, 07-05-2009 - 3:25pm
I am not sure what we will do with our home when we retire. I think we will probably sell it because I do not see the point of two of us living in a five bedroom home unless the kids move away and visit often with their families. I am not sure about what we will do upon retirement, either. I probably want to have some years when I am not employed because I want to be free to travel, maybe live in another part of the world for a few years, things like that. I might continue to write for pay, or perhaps teach a course now and again, I do not know. And I do not know how long DH and I will live. His mother lived into her nineties. My grandmother lived to be almost 100. If I am lucky enough to have grandma's longevity genes, no, I don't see myself working for pay in my tenth decade.

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