Purpose, Passion and Freedom:
Making Your Retirement
Dreams Reality

As the calendar flips to a new year, many Canadians approaching or in their retirement years find that their long-held hopes, goals and aspirations return to front of mind for the first time in a long time. With life’s daily hustles calming down, you finally get the space and time to ponder – how do I spend this next chapter meaningfully? 

Finally, having a schedule that isn’t chock full of work and kid and life obligations and can just be yours again could give you the chance to start dreaming up passion projects, reconnecting with neglected hobbies or launching that small business concept you’ve been daydreaming about. 

But if you aren’t 100% certain that your post-work finances will allow you to pursue any of these new avenues, then the self-doubt creeps in…can I really afford to devote time and money towards self-actualization without costing myself the things I actually need in life? You know, little things like shelter and food…

Here’s the reality – the average senior couple requires over $54,000 yearly just to cover all basic living expenses in Canada today and that tally will continue to grow annually amid relentlessly inflation and population growth. So, with meager pensions and registered accounts as our lone incomes, it’s not likely that the average nest egg will be able to support exploring bigger visions atop necessities.

This is where strategically accessing an overlooked resource – your home equity – can empower you to break out of the fixed income trap to chase your purpose without compromising your financial security. Unlocking a portion of your equity through a reverse mortgage could generate you a supplementary, tax-free income to fuel personal goals decade after decade.  

Imagine an extra $2,000 cash flowing in reliably each month on top of existing savings and pensions. Would this breathing room let you enroll in art workshops, puzzle over genealogy records, train for a race or finally see he world? Ensuring your strong financial footing through your equity means the flexibility to start taking purposeful leaps.

Dipping into savings too aggressively risks depletion in today’s longevity reality – we are living longer, so we have to pay bills longer. But your equity unlocks abundant potential already stored in your home to stoke passions now while still leaving an estate later.

So, as you start setting your intentions to 2024, try shifting your view of reverse mortgages to being a kind of rocket fuel helping you launch toward long-awaited adventures, contributions and self-discovery your next 30 years.

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