Retirement is filled with all sorts of risks including longevity, inflation, unexpected health care needs and costs, sequence-of-return risk and the list goes on.
To be sure, no one product or strategy can manage or mitigate all the risks that you may face in retirement. But a reverse mortgage can be used to manage many of the risks one might face in retirement.
Reverse mortgages was the subject of a panel discussion at TheStreet's Retirement, Taxes & Income Strategies Symposium, held recently in New York.
"I honestly think that that's one of the best uses of a reverse mortgages, is to actually help mitigate those risks," says one of the panelist Steve Resch, Vice President - Retirement Strategies, at Finance of America Reverse.
TheStreet's moderator and editor of TheStreet's Retirement Daily sat down with Resch after the panel discussion. Resch says anything that is going to disrupt or interrupt a planned 30-year retirement period can be mitigated by incorporating home equity and a reverse mortgage in particular into a retirement-income plan.
Some risks in particular that can be managed and mitigated with a reverse mortgage include sequence-of-returns, long-term care expenses and unexpected expenses.
Watch the video interview above to learn more about the benefits and risks of using reverse mortgages as part of your retirement strategy.
Related Retirement Daily Content: Biggest Myths About Medicare and Long-Term Care
Introducing TheStreet Courses! Financial titans, Jim Cramer and Robert Powell, are bringing their market savvy and investing strategies to you! Learn how to create tax-efficient income, avoid top mistakes, reduce risk and more! With our courses, you will have the tools and knowledge needed to achieve your financial goals. Learn more about TheStreet Courses here.