9. Don’t Overlook Home Equity

You might be sitting on a treasure trove without even realizing it. Actually, you might be reading this from inside it right now!

Your house is most probably your single largest asset- as is the case with many retirees. But many don’t like to think of their home as an asset, which could be rather dangerous if their financial situations aren’t top-notch.

Whatever your financial plan is, remember to include your home. Late in retirement, when your savings are depleted, you might need to think about it as extra income. Downsizing can not only put an extra chunk of money in your bank, but it’ll also cut down maintenance costs significantly.

Overlooking home equity could throw your entire spending strategy off balance.