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Cash from a reverse mortgage

where should I invest the monies from a reverse mortgage    I would deduct our monthly needs for two years first and then draw on invested monies


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Reverse Mortgage Specialist

Most of my clients visit with a Financial Advisor so the Advisor can review their objectives and portfolio prior to making their recommendation.  In general, they seem to do things in this order.  First they make sure the homeowners have adequate health and life insurance, then Long Term Care insurance.  Once those are taken care of, a cash reserve is set aside for emergencies, then a SPIA (Single Premium Immediate Annuity) is established.  The SPIA is a "fixed" annuity, to ensure the Principle can never be lost, and guarantees a monthly payment.
Posted 2009-10-01T16:48:49Z
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