HECM+QLAC=Retirement Security

Retirement advisor Jerry Golden explained how a HECM Line of Credit, combined with a Qualifying Longevity Annuity Contract (QLAC), can provide income and financial liquidity to make the difference in a retiree’s retirement finances.

What they’re saying: “When HECM is combined with QLAC, a transformation occurs that, while not the stuff of life-preserving water, could provide the income and financial liquidity to make the difference in a retiree’s retirement finances. We call it H2I, for HomeEquity2Income,” says Golden, in a guest column published by Kiplinger’s Personal Finance.

Why it matters: Golden adds that H2I is an approach that “helps retirees access 25 percent to 40 percent of their net worth that homes in many cases represent. That’s an asset that can allow you to stay in your home, even when the cost of long-term care for a married couple might average as much as $750,000.”