Page 3 - Family Guide Booklet

The Retirement Income Challenge Quick Fact

Managing life’s expenses on a limited retirement income is a Half of households are at risk
challenge - one that can affect the whole family. It’s hard to of not having enough to maintain
watch your loved ones struggle to pay for housing and health their living standards in retirement.
care while juggling the cost of daily living. Oftentimes, it (The Center for Retirement Research at
Boston College, 2017)
seems that only drastic measures could reduce the burden, but
dramatic changes later in life can be stressful and emotional.
The situation can be hard on a family. In many cases, family
members will step in to assist where they can, but this too, Your Home Equity Solutions
presents its challenges. Most older adults have worked hard their
entire lives to support themselves, and it can be tough to accept GET A REVERSE MORTGAGE: Using this government-
help, even from those we love.
insured loan, homeowners can access cash, eliminate
their monthly mortgage payments, and stay in their
home for as long as they like.*
Better Choices With Home Equity
REFINANCE THE HOUSE: By trading in their old
Thankfully, there are resources out there to help families in this mortgage loan for a new one with new terms and rates,
situation, and what many do not know, is that the answer is homeowners can access cash or lower their monthly
often right in front of them. While some might not have enough mortgage bill.
savings to support their needs in retirement, many people own
their house. For most Americans, the home represents their RELOCATE EASILY WITH AAG RESIDENTIAL SERVICES:
greatest source of wealth. In retirement, your loved one’s housing needs may
change and they may no longer need that large family
But that doesn’t always mean your loved ones have to sell home. AAG can help you evaluate to see if moving into
their house and move. There are other options designed to a more practical home or living community better suits
help homeowners access this resource. Today, millions of older your budget, lifestyle and long-term retirement plan.
homeowners are strategically utilizing their home equity to Our team of trained real estate experts specializes in
support themselves. For years, they have built up the equity in helping older Americans sell and relocate with ease,
their home, and now they are finally putting that equity to work making the transition as stress-free and simple as
for them. possible.

By using their own resources to support their needs, your loved * If you simply continue to meet the loan requirements such as
ones can enjoy their later years with dignity. Helping them find keeping up with your homeowners’ insurance, maintenance costs
and property taxes, you can stay in your home without
the right home equity solution for their situation may allow mortgage payments for as long as you live there.
them to achieve the comfortable and stress-free retirement they
deserve.

A Guide for Children and Caregivers 2 or Children and Caregivers 2
A Guide f