No. of Recommendations: 1
When determining the age one can retire, what chance of failure is reasonable to allow? I don't really trust 95% chance of success, because that's still one out of 20 chance of failure. To get that up to 99% chance of success, one might need to work several years longer. But...by having the ability to do a reverse mortgage in your back pocket, it might allow you to retire at the 95% date, knowing you really don't want to exercise that option but being able to in case things go wrong.

The more light that shines on reverse mortgages, the more pressure there is to clean up the bad aspects. That might not happen, but I recall all the fees and costs involved in getting a regular mortgage in the 1980s, and how much better it was more recently.
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