Americans are anxious about retirement. In fact, 86 percent of recently surveyed workers say they have regrets about their retirement savings, including starting too late or not having enough. But while most of us have regrets and anxiety about the future, homeowners are better positioned than non-homeowners. Homeowners, at least, appear to have a plan. For example, 58 percent of homeowners say they plan to use their home to help fund their retirement. Additionally, 89 percent of homeowners are also currently saving for the future – compared to just 63 percent of non-homeowners. But while homeowners have a financial asset and are more likely to be saving, they do admit that the costs of homeownership cut into their ability to save. Among survey respondents, 49 percent listed property taxes as the biggest financial hurdle, with insurance and utilities also making the list of expenses that hurt a homeowner’s ability to save. (source)
