Your home is probably your biggest financial asset. But for those who need money in retirement, the phrase "house rich and cash poor" often becomes apt.
"Using Your House for Income in Retirement" from the Center for Retirement Research at Boston College has advice on how to tap into your home equity to make life easier.
The 24-page booklet compares the two most popular strategies that can free up equity and leave you with spending cash: reverse mortgages and downsizing to a smaller home. The booklet also has several warnings that should be heeded before making any decisions about either strategy.
Download a booklet for free at nwsdy.li/homeincome. You can order a copy for $2 by sending an email to
firstname.lastname@example.org or calling 617-552-1677.