Do you need your investments to perform better or a reverse mortgage?
A recent article in the Wall Street Journal tells us it doesn’t matter if your investments perform well…. most retirees don’t have enough savings to matter. Author Tom Lauricella goes on to say that home equity is still most people’s largest asset and with the help of a reverse mortgage it can make up for their shortfall in investments.
Read the full article: Savings Fall Short for Most Retirees
There are various strategies in utilizing home equity with reverse mortgages to supplement retirement income. One is to take social security at a later age to increase the payment and use home equity funds from the reverse mortgage for financial support until social security kicks in. Or take social security starting at age 62 or 65 and take out a reverse mortgage line of credit with a growth feature. As expenses increase in the future, take advantage of the increased line of credit.
To find out how much you can receive from a reverse mortgage click here
Or call Maggie O'Connell directly at 800-684-9438