Sample 2: Can real estate fill the income gap in retirement?
Meet Bill & Mary Smith, a successful couple in their mid 40’s. They have $170,000 in RRSPs and $20,000 in other investments. With annual savings of $19,000 split between RRSP & TFSA, they want to know if they can retire at Bill’s age 60 assuming an after-tax annual income of $66,000. As we can see in the chart below, although Bill and Mary run short of meeting their financial goals in retirement, they do have adequate fixed assets to offset their future deficiencies. Financial Assets Chart: Is a reverse mortgage a possible solution?
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Bill & Mary have decided to implement an "Insured Retirement Plan" (IRP Strategy) utilizing the future equity in their home through a reverse mortgage.  They both agreed this was the ideal solution as it not only provided the additional retirement income but also provided the additional financial security of life insurance.