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Relying on home equity in retirement? Add to ...

We all do it: You look at the four walls around you and think, if my pension doesn't hold up when I retire, I can always rely on the money I have invested in my home.

This is just one of the many dangerous mistakes we make when planning for retirement, according to Gregory Salsbury, author of Retirementology. He proposes a set of retirement planning principles based on the concept that retirement is not an isolated event and that planning for retirement is an ongoing process that encompasses all our financial decisions and is shaped by our emotions and biases.

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Other key issues influencing investor behaviour include:

  • Justifying a big-ticket purchase because you were previously frugal
  • Fear of having to tap into retirement savings to support extended family
  • Realizing you really should have started planning for retirement years ago
  • Paralysis brought on by trying to comprehend contradictory, overwhelming and confusing financial information


Book Extract: The mistakes we make when trying to figure out how much we need for retirement

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Dr. Salsbury has spent more than 20 years researching and writing about retirement planning and investor psychology. While gathering material for Retirementology, he conducted focus groups with dozens of couples and families at various stages of their financial journeys. This is his second book, a follow-up to his 2006 publication, But What If I Live? which described a confluence of forces that were creating a "perfect storm" for a generation of under-saved and over-spent Baby Boomers.

Dr. Salsbury earned his doctorate from the University of Southern California and received Master's degrees from both the University of Illinois and USC's Annenberg School for Communications. He is executive vice president of Jackson National Life Distributors LLC.



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