If you want to tap into your home equity during retirement, here are some unique ways to use the funds.
Retirement can come with a wide range of opportunities and challenges, especially in terms of managing your finances. One complicating factor for many retirees is that their home represents a substantial portion of their wealth, which is often locked away in the form of home equity. But the good news is that there are smart ways to tap into your home's equity during retirement.
Start a business Many aspiring entrepreneurs will launch their own businesses later in life — and, in particular, after retiring from a career. But if you're retired and on a fixed income, you may not have the funds on hand to do so. You may have the home equity, though. And tapping into your home equity could provide the seed funding necessary to start a new company or purchase an existing small business.
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