2169 East Rutland Lane, Martinsville, IN 46151
Corporate NMLS #1025894
January 11th, 2022
In accordance with this way of thinking, pre-pandemic, you splurged on a number of luxury cruises and travel adventures. While there are still a number of things you’d like to enjoy, you’ve now become conscious of the danger of outliving your assets. “Longevity risk” was always a factor in your financial planning (both sets of your parent are in their nineties), and recently, you transferred some of your investment dollars into annuities with lifetime payout guarantees
The recent jump in everyday costs of living has given you pause. As just one example, even though your home is paid for and has appreciated in value, the costs of heating and cooling have risen substantially, not to mention food costs. You’re looking for more ways to protect yourselves against asset depletion without reducing your lifestyle.
Consider arranging for housing wealth to serve as your “back-loading” plan for combating longevity risk. By arranging for a reverse mortgage loan on your home, you will be creating a line of credit to be held in reserve for later retirement needs. Of course, you’ll continue to own the home and will still need to pay for heating and cooling, repairs, and taxes. Meanwhile, the equity you’ve built in the home can be tapped for needs later in your retirement.
https://mutualreverse.com/david-garrison