Reverse Mortgage and Retirement Resources to Keep in Mind
The reverse mortgage industry faced some flack in weeks past as critics stated that pitches needed to be much more refined. This week, a new report pointed towards two key resources for reverse mortgage and retirement that could help aid professionals in relaying the best information to clients, in order to help them make an informed decision.
"First up: 'The Power of Working Longer,' a January working paper from the National Bureau of Economic Research (NBER)," according to Reverse Mortgage Daily.
"A team of four researchers from the Cambridge, Mass.-based organization set out to determine the relative effects of pulling different retirement levers at varying times in a worker’s life."
Together, the teamed found that working longer, paired with Social Security deferment and aggressive savings can make all of the difference when it comes to the standard of living you are able to attain.
The second resource comes from Wade Pfau, Joe Tomlinson, and Steve Vernon who found that reverse mortgages have "legitimate uses" in retirement, according to RMD.
"A reverse mortgage should be one of the tools that retirees and their advisors consider on a case-by-case basis, using analyses to quantify how financial security can be improved by strategically employing reverse mortgages,” according to the study.
To learn more about these resources and ho they can be used to improve reverse mortgage pitches, click on the image above.