๐ป๐ฏ๐ฌ ๐ญ๐จ๐ช๐ป๐บ:
๐จ๐ฆ ๐ด๐๐๐ ๐๐๐๐ 1 ๐๐ 5 ๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐ 55 ๐๐๐ 64.
โ๏ธ People 65+ have an average annual income shortfall of $20,000
โ๏ธ 39% of Canadians aged 55-64 donโt have an employer pension
โ๏ธ The average Canadian has saved less than $200,000
๐ชFor retirees on a fixed income, worries about taxes, utilities, prescriptions, and day-to-day expenses can impact their mental well-being and take the shine off what are supposed to be their โgolden yearsโ.
๐ Fortunately, there are solutions that can address these concerns.
๐ A reverse mortgage is a popular option for 55+ Canadians that allows Canadians to access the equity they’ve built up in their homes.
๐With more than 70% of Canadians owning their homes, tapping into home equity with a reverse mortgage can be an attractive option for Canadians worried about retirement.
๐ป๐ฏ๐ฌ ๐ฉ๐ฌ๐ต๐ฌ๐ญ๐ฐ๐ป๐บ:
โ ๏ธ Not having to sell or move.
โ ๏ธ No monthly payments are required
โ ๏ธ Funds are tax-free, meaning it wonโt affect the marginal tax rate on your pension.
๐ญ ๐ญ๐ถ๐ถ๐ซ ๐ญ๐ถ๐น ๐ป๐ฏ๐ถ๐ผ๐ฎ๐ฏ๐ป:
๐ธA reverse mortgage can reduce the need to increase RRIF withdrawals by providing an alternative source of tax-free income, thereby preserving those RRIFs and extending the duration of those retirement savings.
๐ก A Reverse Mortgage gives Canadians access to the equity locked up in the home without forcing them to sell and move elsewhere.
โ๏ธ๐ฏ๐ถ๐พ ๐พ๐ฐ๐ณ๐ณ ๐ฐ ๐น๐ฌ๐ช๐ฌ๐ฐ๐ฝ๐ฌ ๐ป๐ฏ๐ฌ ๐ญ๐ผ๐ต๐ซ๐บ?
Reverse mortgage products come in a variety of shapes and sizes. Canadians 55+ can opt for:
๐ฐLump sum
๐ฐ Subsequent advances
๐ฐ Planned advances monthly or quarterly
๐ฐCombination of these options.
โ๏ธAre you ready to explore all retirement income solutions with the Reverse Mortgage?
๐ฒContact us today!
๐ฑ ๐ฏ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐ #๐พ๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐น๐๐๐ ๐ฌ๐๐๐๐๐๐ก
๐๐ปโโ๏ธ@jessica.n.lone
๐๐ผโโ๏ธ@andreea.nour
๐SOURCE: Wealth Professional โ Link in Bio
๐ฆ @homeequitybank