Too many variables to make it meaningful.Well, no you cant live off your home. I agree.
However, these numbers dont say too much.
Person A may have a 1.5 million dollar home and a net worth of 2 million.--home is 75% of net worth
Person B may have a 100 000 home with a new worth of 300 000. --home is 33% of net worth ...
If it's Windsor or somewhere reasonable - Person A looks better. If it's Vancouver or Toronto - then I'm leaning towards person B.
Agreed ... though I'd hope that the closer to retirement, the less the % the house is. That certainly gives one a lot more flexibility in retirement that having huge amounts tied up in a house.My point is the percentages are meaningless.
They do?Plus, most people do downsize when they retire. That frees up cash too.
Most of my relatives has fallen in love with their house so that at retirement - they are maintaining a multi-bedroom house with two or less people in it. They are only downsizing when they have limited mobility.