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Quiz

The Reverse Mortgage Quiz: Test Your Knowledge

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When I talk with consumers and financial advisers about retirement income planning, the value of home equity is one big piece of the puzzle that is often overlooked. The reality is that home equity is America’s largest retirement asset. For most retirees, it can be nearly twice as much as their investment savings.

Very few retirees or their financial advisers, however, know much about how to properly utilize home equity in retirement planning. Since most retired homeowners want to live in their houses for as long as possible, tapping into home equity must be done thoughtfully and through a well-informed, comprehensive retirement planning process.

When used effectively, a reverse mortgage can allow a homeowner to live a more financially secure retirement. Take this quiz to test your knowledge on reverse mortgages.

Written by Jamie Hopkins, a professor at The American College and Director of the New York Life Center for Retirement Income. Hopkins is a well-recognized writer, speaker and thought leader in the area of retirement income planning. His most recent book, "Rewirement: Rewiring The Way You Think About Retirement," details the behavioral finance issues that hold people back from a more financially secure retirement.

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