El Paso Plus - Karen Arndt, 60, has tinkered with several retirement calculators, and they all generate the same finger-wagging advice: Keep working, they seem to warn. You’re not even close.
One approach is a standby reverse mortgage, where borrowers open a line of credit that can be tapped when necessary. Opening a credit line while interest rates are low, even if you don't need the money now, can result in a larger credit line now than when rates are higher, said John Salter, an associate professor of personal financial planning at Texas Tech University.
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