Reverse Mortgage Retirement Planner

Use this simplified version of our award-winning retirement planner to see how a reverse mortgage may impact your retirement plan.

Step 1: Update your retirement profile

YOU AND YOUR HOME

Age / Spouse Age
House Value
Mortgage Balance
Mortgage Payment
Mortgage Rate
you would not have enough home equity to qualify for a reverse mortgage

YOUR SAVINGS

Retirement Savings
After-Tax Savings

MONTHLY INCOME

  From To Income
Social Security  
Pensions/Annuities   Remove
Other Income Remove

MONTHLY EXPENSES

  From To Expense
Current Expenses 65
Future Expenses Remove

<complete selections to see updated results>

Step 2: Review your results

If you get a reverse mortgage at age:

It may extend your savings and income by 14 years

Before Getting Reverse Mortgage

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After Getting Reverse Mortgage

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Step 3: Access Additional Free Tools and Information on Retirement Planning

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The content, calculators & tools on NewRetirement.com are for informational and educational purposes only and should not be construed as professional financial advice. NewRetirement Planner and PlannerPlus are tools that individuals can use on their own behalf to help think through their future plans, but should not be acted upon as a complete financial plan. We strongly recommend that you seek the advice of a financial services professional who has a fiduciary relationship with you before making any type of investment or significant financial decision. NewRetirement strives to keep its information & tools accurate and up to date. This information presented is based on objective analysis, but it may not be the same that you find on a particular financial institution, service provider or specific product’s site. All content, tools, financial products, calculations, estimates, forecasts, comparison shopping products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers.

This estimate is based on very simple assumptions and limited inputs. For a more accurate projection, including the ability to specify different income sources, break out expenses, and edit assumptions, create a free account to use the full NewRetirement Planner.

Modeling Assumptions:

  • Goal age is set to life expectancy plus 10 years, based on current age
  • Other Income growth rate is set to 2% optimistically and 1% pessimistically
  • Social Security adjusts for inflation
  • Annuity and Pension income are not inflation-linked and do not grow
  • Inflation Rate is set to 2% optimistically and 3% pessimistically
  • Medical Cost Inflation Rate is set to 2.5% optimistically and 5.5% pessimistically
  • Out of pocket medical expenses after 65 are estimated using national averages
  • Consumer has not purchased long term care insurance
  • Savings rate of return is set to 4% optimistically and 2% pessimistically
  • Monthly Contributions to savings are set to 3% of Other Income but only apply if there is sufficient income to cover expenses
  • Housing appreciation is set to 2.5%
  • Income taxes are calculated using 2017 tax table brackets and standard deductions, inflation adjusted until goal age
  • Starting at age 70.5, the calculator estimates required minimum distributions
  • All values entered and displayed in “today’s” dollars

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