I have been talking to friends about taking out a reverse equity mortgage on my home. My wife and I have saved some money, but I would like to keep some in reserve in case of emergency. It seemed natural to use the money we would receive monthly from a reverse equity mortgage to take a vacation and invest. It is fortunate we have a good investment advisor, as she advised us to wait a few years. According to her, the longer we wait the more money we can expect in monthly payments. This is very good advice as our monthly payments will be fixed. What might seem like enough money now, might not be in the future when factoring in inflation.
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