Posted on 03.22.08 9:55AM under finance
It may seem obvious to a lot of people, but I never realized just how crucial it is to own a residence when you retire. An article I read at http://money.cnn.com pointed out why it is so important. Once you no longer have a paycheck, affording rent or mortgage payments will be a huge financial burden. I have not refinanced my home or borrowed against its equity, and now I know I will avoid doing so at all costs, regardless of the temptations. This seems like the very least I can do as part of retirement planning.
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