Homes are the most reliable source for funding the owners retirement, even more so than other personal means, like IRAs, savings and working in retirement, according to results of a recent study. As retirement looms for a huge wave of baby boomers, the realization of the need to create a retirement income has those boomers looking to the nations favorite and most trustworthy financial investment homes.
For many Americans, owning a home is a great source of enjoyment and financial confidence, said Earl Lee, president of Prudential Real Estate Affiliates, the organization that conducted the study. Today, more than ever, people also consider real estate as an important potential source of retirement income.
In the study, two-thirds of respondents in a survey said the historically high real estate values in recent years have significantly helped their outlook for a financially secure retirement. By comparison, far fewer people said that job security and increases in the stock market have assisted their retirement preparedness. |
