As a retiree, tapping into your home's equity doesn't have to come with extra payment obligations. Teerayut Chaisarn/Getty Images

For many retirees, the rising cost of daily life is putting pressure on already stretched budgets. The latest Consumer Price Index data, released this week, shows that inflation continues to tick upward and is now sitting at 2.9%. As a result, the price tags for essentials like housing, utilities and healthcare are still climbing. At the same time, Social Security payments average just under $2,000 per month in 2025, which is typically not enough to comfortably cover all costs in retirement.

Yet millions of older Americans are sitting on a financial resource that's grown substantially in recent years: their home equity . Right now, homeowners h

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