Page 5 - Your Guide to Accessing Home Equity 7.18.17
P. 5
#1 Rightsizing or Selling Your Home
In retirement, your housing needs change and you may
no longer need that large family home. AAG is here to
help you take a look and see if transitioning into a more
practical home or living community better suits your
budget, lifestyle and long-term retirement plan.
Housing makes up almost 50% of elderly expenditures.
Bureau of Labor Statistics, Consumer Price Index - Elderly, 2012.
(https://www.bls.gov/opub/ted/2012/ted_20120302.htm accessed 7/11/2017)
Key Advantages:
1 3
Pay Off Your Mortgage Capital Gains Tax Exemption
Exchange your mortgage Take advantage of a capital
for a paid-off home. Use gains tax exemption when
the funds from selling your you sell your home. Home
current home to pay cash for sellers are able to claim an
a smaller one. Eliminating exemption of up to $500,000
your monthly mortgage in gains.
payment goes a long way (For informational purposes only, and
especially when you’re on a not intended to provide tax or accounting
advice. Please consult your accounting
fixed income. professional.)
2 4
Reduce Your Monthly Improve Your Quality of Life
Expenses Retirement is a different
Decrease your household stage in life. Further enjoy
operating costs like utilities, your time by cutting the
taxes, insurance and property hassles of maintaining a
maintenance. larger home or moving closer
to family and friends.
aag.com 8 5 ag.com 8 5
a
