According to the Transamerica Center for Retirement Studies, fewer than a quarter of U.S. workers surveyed feel very confident in their ability to retire comfortably at some point. Among non-retirees, about the same number (25%) reported having no retirement savings at all, and only 40% of those surveyed in the Federal Reserve’s 2021 Economic Well-Being of U.S. Households report felt they were on track in saving for retirement.

Record-high inflation and rising interest rates are squeezing household budgets, further complicating the retirement equation for many Americans. At the same time, total U.S. home equity reached $27.8 trillion in the first quarter of 2022, a record high. Of that number, more than $11 trillion represents “tappable” home equity (how much homeowners can borrow while retaining at least 20% of their equity). Homeowners may be sitting on record levels of wealth—and many are considering options for tapping into their home’s value to take back control of their financial health as they approach retirement.

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