Retirement Planning Florida
Bolstered by new research in the Journal of Financial Planning, leading financial experts view accumulated home equity as an investment that has matured and is now an important resource in retirement planning.
For many seniors, home equity or “housing wealth” is their largest asset. According to these experts, accessing this housing wealth through the use of the Federally Insured HECM Credit Line is a safe and secure means to increase cash flow and strengthen their overall retirement plan.
Below are just a few ways to use the HECM Credit Line:
- Increase your cash flow by ELIMINATING monthly mortgage payments
Every month, your mortgage payment takes the largest portion from your income.
But with a HECM Credit Line, your existing mortgage is paid off which increases your cash flow. Having the Flexibility of a mortgage payment can sometimes make all the difference to strengthen and enhance your retirement.
- Have access to a GROWING Credit Line
With a HECM, you have an increasing Credit Limit available to you. The unused portion of the Credit Line actually “increases” every year giving you access to more cash if needed.
- Provide a contingency fund for unexpected expenses
In retirement, you could run into unexpected expenses. However, with the HECM Credit Line you can shield against any of these and more, such as:
- Health issues
- Major home repairs
- Loss of income from death of a spouse
- Long-term care
- Credit card debt
- High property taxes and homeowners insurance
As you know, life is unpredictable. All the uses listed above, as well as many others are viable reasons for having access to your home’s equity.
Contact Senior Lending for information on how Housing Wealth can be used in Retirement Planning
Are you starting to think about retirement planning in Florida? If so, don't go through the process alone. There are many different financial facets that must be taken into consideration.
Through utilizing financial retirement tools like the HECM credit line, it can transform one's retirement years from stressful to peaceful. At Senior Lending, we are dedicated to helping the current and future retirement community in Florida properly retire - the way you want. Contact us today for more information on the HECM Credit Line and it's multiple uses for retirement planning.