New Study Shows Reverse Mortgages Could Improve Wealth and Reduce Risk for Retirees

Retirees have many important considerations when it comes to elder law and their estate planning. One financial option that is advertised to many retirees is a reverse mortgage.

A new study completed by the Finance of America Reverse publNew Study Shows Reverse Mortgages Could Improve Wealth and Reduce Risk for Retireesished in the Journal of Financial Planning found that reverse mortgages when used properly can help appropriately mitigate risks for millions of retirees when they are properly educated about how to use them. The biggest benefit for reverse mortgages, the study found, applied to those people with $100,000 to $1.5 million in investable assets.

A reverse mortgage with a coordinated withdrawal strategy could help decrease the possibility for retirees to run out of money while also improving their gains over time. There are many important considerations for those people who are thinking about using reverse mortgages or other strategies in their older years.