Business

So, you have saved for retirement with a 401 (k) or an IRA and have been putting money into Social Security at the maximum rate. You are fortunate enough not to have to work after retirement age and are pleased that you’ve been able to accumulate enough wealth so you can retire comfortably. But, the truth behind a successful retirement is not necessarily about how much wealth you have accumulated, but turning that wealth into generating income.

GILROY

How confident are you about your retirement savings? That might seem like a difficult question to answer. Maybe a better question is – do you own your home? If your answer is no, you're not alone. Retirement-age homeowners are more likely than ever to carry mortgage debt. According to a USA Today analysis of census data, more than 28 percent of homeowners age 65 or older owe on their homes. That might not seem like an outrageous percentage, but when compared to about 21 percent in 1990 and about 19 percent in 1980, the trend is obvious.

Gilroy resident honored by AtHome