Article by Liisa Ogburn.
What is a Reverse Mortgage?
When funds are needed quickly, accessing value you’ve built in your home might make better financial sense than withdrawing from your 401k during a bear market.
Few people want to leave home when they start to need help, but feel they must if they do not have the resources to bring some help in. I myself have been weary of reverse mortgages until recently, when Shelley Giordano, Chair of the Funding Longevity Task Force at the American College of Financial Services in Washington, D.C. said, “Research by retirement income experts has demonstrated that the thoughtful, conservative use of housing wealth in retirement contributes to greater portfolio resilience. For example, replacing a traditional mortgage with a reverse mortgage reduces the danger of mandatory withdrawals in bear markets. Or substituting draws from a reverse mortgage instead of from the portfolio, in bear markets, protects the retirement nest egg against premature depletion of the retiree’s nest egg.”
To view the entire article, visit: https://www.wral.com/what-is-a-reverse-mortgage-/17500143/
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About the Author:
Liisa Ogburn is at the heart of Aging Advisors NC, bringing a rich blend of personal experience and global perspective to elder care. Raised in North Carolina with deep roots in Finland, Liisa has a unique appreciation for diverse approaches to aging, shaped by her life across different cultures including Finland, Estonia, Germany, England, Japan, and Costa Rica.
Her path into elder care consulting was deeply personal. While juggling her role as a Duke University educator and caring for her father-in-law and three young children, Liisa started sharing her family’s journey through articles for The New York Times and later, over 300 posts for WRAL Raleigh on everything from handling loss to choosing the right elder care options.
A teacher at heart, Liisa thrives on empowering others with knowledge. She offers her expertise in presentations to various groups—from churches to professional firms—and writes extensively, reaching audiences far and wide. Her credentials include certifications in geriatric care and a special certification from Brown University to teach Mindfulness Based Stress Reduction, reinforcing her belief that calm minds make sound decisions.
