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Episode 2728:
Explore how to safeguard your retirement against uncertainties with Kathleen Coxwell’s insights on NewRetirement.com. Discover why a robust Plan B, possibly your own home equity, could be the key to a worry-free retirement. Learn from financial experts about effective fallback strategies, including reverse mortgages, to ensure financial stability no matter what life throws your way.
Read along with the original article(s) here: https://www.newretirement.com/retirement/does-your-retirement-need-a-plan-b/
Quotes to ponder:
"A good retirement plan involves sufficient savings, strategies for spending, drawing from IRAs, taxation and health care. But there also needs to be a contingency plan, just in case the initial plan you set forth goes awry."
"Having a Plan B is all about securing an income stream to sustain you in retirement. And while payments through Social Security, pensions or products like annuities can offer guaranteed protection, so can tapping home equity."
"It’s a good thing to have that reverse mortgage line of credit open. It’s there if you need it, and it makes a lot of sense to have that credit line open for emergencies as a Plan B that’s waiting in the wings."
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