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Many older adults are retiring younger, but not always by choice. Employers push many into early retirement as part of corporate budget cuts or business changes. One study found that of employees that retired earlier than expected, nearly half of them were forced into retirement due to company downsizing and company closures or due to evolving company needs.
Despite attractive early retirement packages and the desire to be free from the daily nine to five, many older adults want and need to keep working. However, it’s not easy to find a comparable position when you’re a few years shy of retirement.
Individuals that face early retirement have to protect their nest egg and make it last even longer. If you’re age 62 or older, consider a reverse mortgage. A reverse mortgage can provide a source of tax-free* income to last all the way through your retirement years. Make no payments for as long as you stay in your home.†
* Not tax advice. Consult a tax professional.
† Payment of taxes, insurance, and property charges required
“I did my reverse mortgage in 2013 and it was one of the best decisions I’ve taken since I retired. Now I have additional income every month and the peace of mind that I won’t outlive my retirement income. (My FAR loan officer) was incredibly helpful and made the entire process extremely clear and simple.”
Nancy, Los Angeles, CA
“During the course of undertaking the reverse mortgage process, my wife and I found Finance of America Reverse to be most trustworthy, honest and able to deliver the final package. We could not have asked for a more representative person to provide us all the information in the process than (our loan officer). (She) is a very knowledgeable, patient, and courteous person. Above all, she conducted herself very professionally, a true professional. If she did not know the answer at the time, she would research and get back with you immediately. Communication and cooperation were never lacking through the whole process, this was very important to both my wife and I. During the closing process, we dealt with several different persons from the Finance of America Reverse (team) and we can honestly say that none failed us. Service was their number one objective. My wife and I would not hesitate to recommend (our loan officer) and (Finance of America Reverse). In our case, they were truly a GREAT TEAM.”
George and Gracie, Lyford, TX
“Cliff and I are so grateful for you, as you are responsible for helping us to get out of the rut we had been in for some time. You went above and beyond with us to help us secure this opportunity to improve our quality of life in our senior years. It’s clear that you love what you do and truly care about your clients’ peace of mind and happiness. It’s been a pleasure working with you, we are forever grateful!
P.S. Planning a little vacation to celebrate our new and improved quality of life!”
Joanne and Cliff, Victorville, CA