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Retirement and Home Ownership

Hello Hampton Roads,

Depending on your age, the thought of retirement may or may not have crossed your mind but I think it's an important topic to discuss whether you are 23 or 53.  Northwestern Mutual's 2018 Planning and Progress Report conducted a survey on what Americans have saved for retirement and found that a third of the repondents had less than $5000.00 set aside, and the average saved was $84,821.00.  On top of that 46% of adults don't have any plans to prepare for the likelihood of them ouliving their savings!  Looking at the image below, where do you fall in the scale?

If Northwestern's findings have motivated you to ask what can be done to help,  I believe home ownership can be a good option depending on housing costs where you live.  Every 3 years the  Federal Reserve conducts a Study on Consumer Finances (SCF) and the latest report recently released shows that the average networth of a home owner is now 44x ($231,500.00) that of a renter. ($5,500.00). 


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