You can purchase a new home using a reverse mortgage loan. This offers a tremendous boost in purchasing power without obligatory monthly mortgage payments. You just need to pay taxes, insurance, and maintain the home. If you wanted to upsize, downsize, move to a more expensive area, or anything in between, this could be right for you.
With a reverse mortgage loan, you can secure your cash flow throughout retirement and change the way your finances work. If you turn a portion of your home equity into cash, you can avoid drawing from your investments when the markets are down, and do so when they’re back up.
Because the proceeds from a reverse mortgage are considered a loan—not income—they are off limits to the IRS.* Strategic use of these proceeds offers a host of potential tax advantages, including withdrawing from your IRA in the lowest possible tax bracket percentage.*
*This advertisement does not constitute tax or financial advice. Please consult your tax and/or financial advisor for your specific situation.
