How can I use a home equity reverse mortgage to help my retirement savings last?
Retirement Smart Webinar #8 by Shelley Giordano, Chair of the Funding Longevity Task Force
Home equity is the largest asset that most middle-income retirees have after the value of their Social Security and pension benefits. In a time when lifetime income sources such as pensions and Social Security benefits are declining, accessing home equity will become more important as people live longer and face increasing health care costs. Reverse mortgages offer a way to tap home equity for retirees to address these needs and stay in their home. Because of key changes made in the last several years to the Home Equity Conversion Mortgage program by the Federal Housing Administration, the safety and functionality of accessing home equity now go beyond supplementing retirement income.
Three things you need to know:
1. How planning for possibly using housing wealth early in retirement can help retirement savings last.
2. How establishing a line of credit that keeps pace with inflation can provide the funds for a long-term care event, the effects of which fall so heavily on women.
3. How a reverse mortgage strategy can prevent selling the marital home and provide a means for equitable housing for both parties in case of divorce.
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You want to know, “How can I afford to retire?”
We’ve compiled a group of industry leading experts who have spent decades determining the answer to that and other questions to help each of us to afford retirement the way we have always wanted to. They have compiled nine in-depth webinars on topics pre-retirees need to know, presented weekly for you to learn, review, and understand as you pursue your own retirement.
Read the topic question for each of the nine webinars at the right.
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Each week for nine weeks we introduce a new webinar on a topic future retirees need to know. Webinars may be viewed on desktops, laptops, tablets, and phones.
- Download the pdf with course descriptions available for taking notes to help capture your next steps and create your personal action plan.
- Print a Certificate of Completion after viewing the final webinar.
We recommend that you then take your Action Plans and Certificate to your advisor or find one who can help you implement what you’ve identified as important to do or further explore to secure your retirement.
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