Retirement Funding

Three-Legged Stools?

Think of retirement funding as a three-legged stool. In the past, those three legs have been personal savings, government benefits (CPP and OAS) and employer pensions.

But more and more Canadians are retiring without a government pension, making it a very wobbly stool. The good news is that your home equity can replace that third leg. A CHIP Reverse Mortgage can provide a monthly income source where you keep title to your home and, done responsibly, you still maintain strong equity in your home.

Conservatively, if home prices increase at 4% per year, a 65 year old couple in a $1,500,000 home drawing $2,000/month will still have more equity when they are 85 than they do now.

We run, no obligation, personalized financial scenarios for all our clients. You may be pleasantly surprised to see yours!

Reach out anytime. Always here to answer your questions about this and any other real estate financing scenarios you may wish to consider.