2129: Mortgages, Home Equity, and Retirement Spending by Jeremy Jacobson

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🗓️ 10 December 2022

⏱️ 11 minutes

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Summary

Jeremy Jacobson of Go Curry Cracker talks about mortgages, home equity and retirement spending Episode 2129: Mortgages, Home Equity, and Retirement Spending by Jeremy Jacobson Winnie Tseng is from Taiwan and is the Go Curry Cracker resident photographer. After working in high tech, she found her real love making magic happen behind the camera and in the kitchen. Now she travels the world in search of new flavors and images. Jeremy Jacobson is from the United States and is the Go Curry Cracker blog writer. His love of learning and adventure make permanent travel the ideal lifestyle. The original post is located here: https://www.gocurrycracker.com/mortgages-home-equity-and-retirement-spending/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 2129, mortgages, home equity, and retirement spending
0:08.0	by Jeremy Jacobson of gocurrycracker.com and on your host and personal finance enthusiasts
0:14.5	Diana Mariam.
0:15.5	Now, let's get right to it and continue optimizing your life.
0:24.0	Mortgages, home equity, and retirement spending by Jeremy Jacobson of gocurrycracker.com
0:31.7	Is home equity part of net worth?
0:34.8	When I googled how to calculate net worth, one of the first results was very succinct.
0:40.2	Net worth is assets minus liabilities.
0:43.3	And it is simple.
0:45.3	Hence, home equity, home value minus mortgage is part of net worth, which is great for
0:50.8	accounting purposes.
0:52.8	But does it work for retirement budgeting?
0:56.4	Retirement budgeting.
0:58.3	The 4% rule is often used or at least discussed when planning a retirement budget summarized.
1:05.5	Plan to spend 4% of your starting portfolio value each year adjusted for inflation.
1:11.5	Following this guideline, your retirement money should last at least 30 years, even
1:15.7	in the worst cases in the historical record.
1:18.6	Which is why it is the 4% rule and not the 5% rule.
1:22.8	It is in these hard times that the trouble of including home equity in net worth becomes
1:26.7	clear.
1:28.0	What if you based your retirement budget on total net worth, including home equity, and
1:32.6	you happen to retire in 1966, the worst retirement ever?
	...

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