Sell the house for $1M, pay $100K in taxes, and buy a house for $500K...leaves you with a home and $400K to work with.By the way, this is a major lesson for many folks who live in homes that have significant value. Sell the house, buy a smaller but nice home in a less expensive area, then use the balance to fund your portfolio. It's amazing to me how few people can see beyond the need to stay in their expensive houses and claim at the same time that they can't afford to retire. Of course, the better course is to have invested wisely over the years, and then live in an expensive home and have more than enough in your portfolio to live in comfort forever.
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