A new report points out that not onlyare people not saving enough for retirement, and living longer thanexpected, they're also cash poor and “house rich”—they own homesinto which they've sunk a lot of money but have no way to accessliquidity from them. (Photo: Shutterstock)
Amid the retirement crisis comes an idea that's both newand very old—life estates.
A Propmodo report points out that not only are people notsaving enough for retirement, and living longer than expected,they're also cash poor and “house rich”—they own homes into whichthey've sunk a lot of money but have no way to access liquidityfrom them without either selling or resorting to reverse mortgages.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
