Using a reverse mortgage to get by

Using a reverse mortgage to get by

How a typical couple might use a reverse mortgage in retirement

  1 Premium content image

by

From the December/January 2014 issue of the magazine.

  1 Premium content image

To learn more about whether this strategy is right for you, read “Home equity: A retirement fallback plan.”

reversemortgage

Notes: All amounts indexed for inflation, except for the reverse mortgage draw, which continues for 15 years if interest rates do not increase. CPP benefits are estimated based on careers in average-paying jobs. At this income level, taxes for seniors are zero at the federal level and in many provinces.

Comments are closed.