Will Subprime Plunge Submerge Your Retirement?

Will Subprime Plunge Submerge Your Retirement?

For most of us, our homes represent many things…family, comfort, often refuge from the maddening day. Statistically, our homes have also come to represent our single largest financial asset. With many people buying into the no-money-down, interest-only mortgage to embark on the dream of home ownership, the new reality is more than likely to become yet another nightmare. And, for those who counted on cashing in, flipping, or riding the real estate boom to live the life of leisure in retirement, I hope you are comfortable wearing a blue or orange vest into your 80s. It’s sad that 1 out of 3 Americans have nothing saved for retirement. After all, most people don’t plan to fail, they simply fail to plan.