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Corona Reverse Mortgage Story- Real Life Retirement Planning
I recently closed a reverse mortgage here in Corona with a popular couple who are nearing retirement. In their 60’s, they both still work, but are looking forward to winding down the time spent on the job and spending more time living their dreams, traveling and making memories. He is a talented artist and she loves to travel and design and sew clothing. They had paid off their home and have some funds invested in a few different investment accounts. As the cost of living has gone up and their employment income has gone down they faced a choice. Do we sell and move to a cheaper, smaller home, or do we stay here where all our memories are, where we raised our kids and had countless family gatherings?
 
They spoke with their financial advisor and got as realistic as possible. The thought of leaving their home was just too much to bear, but if they actually retired and let go of their paycheck just to rely on social security and their investment accounts they would be drawing down too much and their savings just wouldn’t last long enough. They really did not want to cut back on their lifestyle, some ... more

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