Maximize Your Home Equity With These Strategies

August 31, 2021

The average home seller makes a healthy $94,500 in profits these days, up more than $34,000 since just last year, according to ATTOM Data Solutions. That good news belies a conundrum for those who plan to sell their place and buy another in today’s hot housing market: even as you pocket a premium when you sell, you’ll turn around and pay a premium when you buy. This can eat into your profits, but it doesn’t have to be this way. Today’s featured story explores ways to maximize your home equity, like selling and renting or buying a much lower-priced home. If you don’t plan to move, a home equity loan could help you finance aging-in-place modifications. Data suggests that home prices may be plateauing, so now’s a great time to consider your options.

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Timely Retirement News, Insights and Advice

U.S. homeowners are sitting on about $8.1 trillion of collective home equity.

The fund would track an index that includes stocks of companies with elevated levels of social media activity and short interest.

Short answer? A lot.

Retire With Money Community News

This week in our Retire with Money Facebook group, a member shared that he bought a $10,000 I-Bond from Treasury Direct, the web site of the U.S. Treasury. It currently pays 3.54%, a very good yield in today’s market. You don’t have to buy as much as $10,000 — that’s the maximum an individual is allowed per year. Money wrote about I-Bonds earlier this year, and a financial planner we talked to called them “an under-utilized option.” Facebook members agreed.

Retirement News From Around The Web

Ed Asner, Award-Winning Actor Who Played Lou Grant, Dies At 91
He won five Emmys playing the boss Lou Grant on The Mary Tyler Moore Show. NPR

An Estate-Planning Checklist
If you’ve named beneficiaries for your retirement account, you’ve already started the process. Here’s how to continue. MORNINGSTAR

‘We Hire Old People’
A job posting for a software developer sparks a viral conversation about ageism in tech. FAST COMPANY

One Thing I Don’t Plan to Do Before I Die Is Make a Bucket List
“Our lives are unfinished and unfinishable,” reflects a 35-year-old diagnosed with late-stage colon cancer. THE NEW YORK TIMES

Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.

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