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Home is where the retirement money is, survey says

Survey indicates many will move or downsize when they retire

About 85 percent of Americans view their homes as a reliable source for funding their retirement, beating out other options such as IRAs, savings, and working in retirement, according to a report by Prudential Real Estate Affiliates Inc., the real estate brokerage franchise unit of Prudential Financial Inc. The report, Building Security at Home, found that American homeowners believe the increase in the equity in their homes has been the most effective means of improving their retirement prospects. Just under half (44 percent) agree that their home is their most important financial safety net for retirement. The report is based on surveys conducted for Prudential. Prudential Financial conducted a Workplace Report on Retirement Planning study that focused on retirement issues among near-retirees. About 1,023 full-time employed Americans 55-64 responded to questions about their retirement knowledge, goals, actions and plans for that report. A second study, Roadblocks to Retirement, sur...

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