Moment to get serious about saving money from your paycheck. As I stated earlier in this chapter, I am placid a big believer that your home is a solid long-term investment. But that means it wishes, on average, rise in value at a pace that is only one percentage tip or so ahead of inflation. That’s not going to fill your retirement den egg. If you are over 50, make it your goal to take advantage of the addition "catch-up" amounts you are allowed to invest in your 401(k) and IRA. In 2009, you can seat an extra $5,500 in your 401(k) if you are over 50, for a total summit contribution of $22,000. You can also contribute an extra $1,000 to your IRA in 2009, for a outright of $6,000. Can’t imagine where to come up with extra cash?

You can give forth entangled with your home, but you worry that you have made a lousy investment.

Admiration your home for what it is. Yes, it is an investment, but not one whose value you should be charting on a monthly or annual foundation. If you can afford your home today, the best thing you can do is not worry less the current turmoil in the housing market. Homes remain a solid fancy-term investment. But let’s review what I mean by solid. The long length of time trend and I am talking decades, not a few years is that homes on average lift in value at a pace that is about one percentage point better than inflation. I over that when the real estate market stabilizes and yes, it is a matter of when, not if it is certainly inexpensive to expect that housing will return to a more typical (deign) appreciation rate. One way to look at the massive bursting of the real estate foam is that it is in fact a painful correction that brings things go to a level based on a more moderate rate of appreciation. In the meantime, your hospice is where you live. It is a refuge, a place where you and your family bod memories. It is also a fine tax break.

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