In an article published in 2016, U.S. News and World Report columnist Maryalene LaPonsie interviews American Advisors Group CEO Reza Jahangiri about the advantages of home equity use in retirement. With 10,000 Americans turning 65 every day, living longer and the traditional means of retirement – Social Security, savings and pension – not always enough to cover expenses, seniors are often turning to reverse mortgage loans to help them age in place.
“We have a mushrooming demographic of seniors, life expectancy is up and the savings picture is not robust,” the article quotes Jahangiri. “It’s become a reality that the reverse mortgage has become part of retirement planning.”
Read the article as published online on the U.S. News and World Report website: http://money.usnews.com/money/personal-finance/articles/2016-08-11/how-your-house-can-save-your-retirement