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Forbes Column: Retirees Can Save With Reverse Mortgage for Purchase

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While many senior homeowners opt to relocate in retirement, they may be missing out on an opportunity to mitigate problems and best support their retirement, writes reverse mortgage proponent and financial advisor Jamie Hopkins in a Forbes column this week.

Presenting the historical landscape for home equity growth versus stock market returns, Hopkins, who is Co-Director of the American College’s New York Life Center for Retirement Income and an Associate Professor of Taxation at the American College, notes that those who purchase a new home outright in retirement “are essentially investing and locking up a lot of their wealth into one asset that does not provide great returns over time.”