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February 14, 2013
Is Relying On Home Equity For Retirement A Good Idea?
Of Americans aged 50 to 70, 47% have reported that they are relying on home equity to fund their retirements, according to a survey conducted by Ameriprise Financial. This figure is an increase from the 39% that provided that response prior to the economic downturn. In addition, 37% responded that they are not currently on track to have their mortgages paid off prior to retirement.
St. Louis Fed: Custom Chart