Because so much of the net worth of older people is housing wealth, some retirees have started using their home equity to pay for their retirement.

Question

Quizplus · Accepted Answer

This statement is true. Many retirees use their home equity, either through downsizing or a reverse mortgage, to supplement their retirement income. This is because their house is often their most valuable asset, and tapping into this equity can provide additional funds to cover expenses in retirement.

Because So Much of the Net Worth of Older People