If you’re part of the “Sandwich Generation”, meaning your parents are over 65 and you’re raising your own children, you face a difficult choice. You’re trying to balance the funding needs of your own family against the worry that your parents’ savings won’t be enough to cover their living or health care expenses in retirement. Traditional financial planning would suggest that you draw down assets from your portfolio to help cover these costs… putting the funding of your own retirement at risk.
A Reverse Mortgage Specialist can show you – and your financial advisor – how a reverse mortgage can be a better option for you and your family. A reverse mortgage can provide the additional cash flow in retirement that aging parents need by accessing the equity in their home. It eliminates monthly mortgage payments and replaces them with a lump sum or monthly payout, a line of credit or some combination… and your parents don’t have to sell their home. Your parents can use this extra cash to age in place more comfortably or to help cover the high cost of medical care.
This also leaves your portfolio intact… ready to meet your own retirement needs. To find out more about the reverse mortgage option for aging “Sandwich Generation” parents, contact us today.
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