Page 15 - Retail Info Kit Booklet
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5 Build a stronger safety net. 8 Preserve my portfolio in a down market.
Instead of being forced to sell an investment in
The best defense against unexpected
expenses, such as medical emergencies, a down market, you could wait for the market to
sudden market downturns and other life rebound by using proceeds provided by a reverse
events, is to ensure you have financial mortgage to make up any shortfall. Please consult
resources standing by to deal with them. with your financial advisor.
Gain greater peace of mind for my Create a lifetime revenue stream
6 long-term healthcare needs. 9 for my family and me.
By creating a reverse mortgage line of A reverse mortgage gives you multiple payment
credit, which grows over time, you can have options, including monthly disbursements for life as
money for your care when you need it. long as you live in your home**.
Purchase another home Pay off other debt, like high-interest credit cards.
7 that will better fit my needs. 10 Using a reverse mortgage to pay off credit cards
Instead of using all cash, put down only or other high-interest debt may prove a sound finan-
a portion of the purchase price (from cial strategy. What a reverse mortgage shouldn’t be used
your previous home’s sale or from other for, is an excuse to overspend or avoid addressing what
savings and assets) and use a reverse caused the debt in the first place.
mortgage to cover the rest, leaving you
with no future monthly no future monthly **Available with Tenure-Based or Modified Tenure plans, so long as
mortgage payments. (You must continue to Borrower does not default on the loan. Borrower must maintain home
maintain your property, pay property taxes as principal residence, pay all taxes, insurance, maintain the home,
and homeowners insurance, and otherwise and comply with all other loan terms. With Modified Tenure plans,
comply with all loan terms.) lender will set aside a specific amount of money for a line of credit.
Your Guide to a Better Retirement 15
