Take a second look at reverse mortgages

Market Watch-John Salter, an associate professor in the Personal Financial Planning department at Texas Tech University, is among those who agree with Fidelity’s assessment that people will need to find ways to use home equity for retirement income. “Many current and future retirees’ homes will be one of their biggest assets, and this may be a resource moving forward that shouldn’t be ignored,” he said.

Fidelity Investments this week joined the fray with a survey noting that working American households may face a potential 28% drop in income in retirement and that four in 10 retiree households already report not having enough income to cover their monthly expenses.

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John Salter, an associate professor in the Personal Financial Planning department at Texas Tech University, is among those who agree with Fidelity’s assessment that people will need to find ways to use home equity for retirement income. “Many current and future retirees’ homes will be one of their biggest assets, and this may be a resource moving forward that shouldn’t be ignored,” he said.

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