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#39 Using A Reverse Mortgage To Launch A Late-Life Career


David Garrison
Home Equity Retirement Specialist
NMLS # 1595194
Serving the State of Indiana
p (317) 644-2595 c (765) 516-0130
e [email protected]

2169 East Rutland Lane, Martinsville, IN 46151
Corporate NMLS #1025894

After a long and quite successful career, you’d been looking forward to retirement, but soon learned you’re not cut out for rest and relaxation. Exploring new possibilities for directing your considerable energies and talents, you’ve decided to launch an entrepreneurial enterprise in the form of a home-based business.

In terms of your own living expenses, you’re confident that your careful planning will allow you to easily maintain your standard of living, what with your pension, tax-advantaged retirement and other investment accounts. With a life insurance plan and a long term care e policy, you feel prepared to move forward.

The new business plan brings some new considerations and concerns, however. While you’re confident you can handle the upfront costs of launching your new gig, you want to be sure you’re prepared to handle unexpected business expenses. What if it takes you longer than hoped to generate net cash flow? On the positive side, you want to be able to seize opportunities to expand.

A federally insured reverse mortgage might provide just the assurance you need, in the form of a line of credit from which you can draw as needed for your new business. By leveraging the equity you’ve built up over the years in your home, you’ll buy yourself time to get your entrepreneurial enterprise on solid footing. You will need to continue paying property taxes and homeowner’s insurance, but there will be no required monthly mortgage payments. Best of all, “draws” you take from the line of credit will be tax free.

Could a reverse mortgage be just the ticket to empower your “encore career”?