10 Reasons to Eliminate Mortgage Payments in Retirement

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Would you rather your monthly mortgage payment be mandatory or voluntary?

Pierce and Linda, a retired couple with a $650,000 home and $200,000 mortgage, discovered that their desired $45,000 annual withdrawal rate wasn’t sustainable long-term. Exploring a reverse mortgage showed them how eliminating their $1,750 monthly payment could extend their savings and increase their retirement freedom.

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The content of this blog is for financial advisors and professionals only and is not intended for consumer use. Names, cases, and scenarios are fictionalized for illustrative purposes. The opinions expressed here are those of the author alone and do not reflect the views of any affiliated entities or individuals. Don Graves, NMLS #142667.

Don Graves, RICP®, CLTC®, CSA, IRMAACP™

President and Chief Conversation Starter at HECM Advisors Group/Institute

Don Graves, RICP® is a Retirement Income Certified Professional and one of the Nation’s Leading Educators on the Emerging Role of Reverse Mortgages in Retirement Income Planning. He is president and founder of the HECM Institute for Housing Wealth Studies and an adjunct professor of Retirement Income at The American College of Financial Services. He has helped tens of thousands of Advisors as well as more than 3,000 personal clients since the year 2000

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+Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®

@AskDonGraves