EP 40: Is Home Equity Really Your Financial Savior?
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What you’ll learn in this episode:
Whether real estate is a risky investment.
Why homeownership doesn’t necessarily mean security.
Why we should reconsider the modern way of saving for retirement.
What we use home equity for.
The strings attached to home equity.
The importance of aligning with what works for you.
What home equity can’t help us achieve.
How purchasing a tiny home may help you save money.
Today we are diving into the often misunderstood topic of home equity. We'll question the common belief that building home equity is essential for financial security, and instead of accepting conventional wisdom about this at face value, take a closer look at the risks and rewards involved.
Listen in to learn a more practical approach to home equity, examining its uses and the associated costs and obligations. From debunking myths to considering alternative investment strategies, I want to challenge the status quo and give you a clear-eyed perspective on this aspect of homeownership.
Resources mentioned
Laura Lynch: LinkedIn
Quotes from the episode
“Real estate—just like with any other investment—has some risks associated with it when it comes to what the market is going to do.” - Laura Lynch
“This modern experience that we have of feeling the pressure to save enough money to make sure that we have all of our living expenses paid for, for three or four decades of no employment, is a new phenomenon and something we should be thinking critically about.” - Laura Lynch
“Even though home equity can sound like a really nice thing to have in your back pocket, when you pull it out of your back pocket, there are some strings attached.” - Laura Lynch
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