Accessing equity to help ‘retirees live a better life’

“Typically, a third of your income should come from some sort of employer-sponsored savings plan, a third from Social Security, and a third from personal savings. If you introduce home equity, you are adding a fourth leg to the stool and if you think about a stool that has three legs versus four legs, four legs are more stable,” Mills detailed.

“It creates a pool of cash; it is a separate bucket.”

Mills also illustrated that reverse mortgages are not tied to the whims of the stock market or other types of investments. Property, in this market, also tends to appreciate.

“People do not have to worry about selling assets at a tremendous loss. If you don’t have to sell those when prices are depressed, because there is a market swing, you can pull the money from the home,” Mills stated.

As Mills pinpointed, now is the time to grab the financial opportunity that reverse mortgage options afford.