Dangers of downsizing

Is freeing up capital to pay off equity loan, child's debt worth the risk?

Big plans for business in 2018?
Give yourself the tools to own the new year at Connect SF, July 17-20, 2018

DEAR BENNY: I am 58 years old and married. My total household income is less than $50,000. I have no mortgage; however, I do have a line of credit with $130,000 owed.

I have a daughter who is a junior away at college. I want to help pay for student loans once she graduates. Do you think I should put my house up for sale and downsize to maybe a condo or townhouse? My home is probably worth about $250,000 in this market. I am worried that I will never be able to retire. What do you think? –Rod