Faculty Publications

Title

Reverse Mortgages Can Be A Retiree's Saving Grace

Document Type

Article

Publication Date

10-7-2015

Abstract

According to the Employee Benefit Research Institute (EBRI), Americans are vastly unprepared for retirement to the tune of roughly $4.13 trillion. EBRI projects that the retirement savings shortfall would be much worse if Social Security benefits are reduced or fully eliminated. This should not be a major surprise because for roughly two-thirds of Americans, Social Security benefits will supply more than 50% of their retirement income. Social Security is far and away the largest retirement income asset of the average American.