CARING FOR LOVED ONES
Caring for a parent or another loved one is one of the most challenging responsibilities we face. Family caregivers manage home medical care, coordinate with insurance providers, and manage finances. You do it all, selflessly, with your loved ones’ best interests at heart.
If you want to optimize your retirement or put an end to your financial worries, FAR can help. If you want to explore innovative ways to build on your investments, we have a solution.
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Caring For Loved Ones Isn’t Easy
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Caregiving demands a great amount of time, patience, and love. Caregivers also have to delicately balance their loved ones’ needs with their own. For all of its rewards, caregiving places incredible stress on the giver. Common concerns include:
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How can I help my loved ones live a more quality life during retirement?
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How can I help my loved ones manage healthcare costs?
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Can I help them avoid debt later in life?
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Will my loved ones be able to stay in their home?
Focus on Your Loved Ones, Not Their Finances
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To ensure that their loved ones receive the best care, many caregivers seek out support groups and other outside resources for advice and to help ease the workload.
Finances are no different. If you are caring for a loved one, you can give him information about an often-overlooked financial resource—a reverse mortgage. A reverse mortgage may help your loved one cover medical and living expenses without sacrificing quality of life.
With a reverse mortgage, your loved ones can borrow against what may be their most valuable asset—their home. A reverse mortgage allows homeowners to convert a portion of their home equity into tax-free* funds.
Your loved ones can take the proceeds as a line of credit to cover unexpected medical expenses; as monthly advances to ensure a comfortable lifestyle; or as a lump sum to pay off any outstanding debt. Your loved ones don’t have to repay the loan as long as they live in their home.
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AMREverse Helps You Help Them
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We empower homeowners and homebuyers age 62 and over with the tools to achieve financial independence.
Get the support you need to care for your loved ones.
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* Not tax advice. Consult a tax professional.
Help Them Retire Better
Your loved ones saved consistently for retirement, but as they continue to thrive in their 70s and 80s, you worry whether they saved enough. One recent survey said that more than half of the world’s population have not prepared adequately for retirement. They expect retirement to last at least 18 years, but expect savings to run out after 10.
To ensure your loved ones have savings to last through every year of retirement, talk with them about a reverse mortgage. By tapping into a portion of their home equity, your loved ones can receive increased, steady income to enhance their existing retirement funds.
A AMREverse licensed Reverse Mortgage Specialist can help you and your loved ones through the entire process. They will answer all questions and guide your loved ones through the entire loan path.
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Your loved ones get to stay in their home, and they make no loan payments for as long as they stay in their home†.
Help Manage Healthcare Costs
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When adults require daily or around-the-clock care, most likely they face considerable healthcare costs. Regular visits with doctors and specialists, multiple prescriptions, medical equipment, and in-home care add up fast. And Medicare doesn’t cover everything.
Many older adults have to ration their prescriptions because they can’t afford them otherwise. Don’t let this happen to someone you love.
If your loved one owns his or her home, talk with him or her about a reverse mortgage. A reverse mortgage lets the homeowner or homebuyer convert home equity into tax-free* funds.
Use these loan proceeds to cover mounting or unexpected medical debt or to optimize existing retirement funds. With a reverse mortgage, your loved ones may be able to cover their expenses for years to come.
One of our licensed Reverse Mortgage Specialists can explain the benefits of a reverse mortgage and help you and your loved ones find a product that meets their needs.
Help Deal With Debt
Until your loved ones need help, you may not know how much debt they carry or retirement savings they have. They could be one of the many Americans—nearly half—with no retirement savings at all.
As a caregiver, you may have to manage your loved ones’ financial affairs as well as medical affairs. When it comes to finances, caregivers face one common concern: How do I help my loved ones manage debt to live as quality a life as possible?
A reverse mortgage may provide a solution. By drawing on what is often a homeowner’s only asset—their home—a reverse mortgage can provide the funds needed to pay off debt.
Your loved ones can move on with their lives free of financial worry. They can take the proceeds as either a line of credit, to pay bills as they come, or as a lump sum, to pay off existing balances.
FAR helps the caregivers and the cared for.
Help Them Stay Independent
It’s difficult to watch your loved ones struggle with their health and independence. According to AARP, about 87 percent of adults age 65 and over want to stay in their current home and community as they age.
To do so, they may not only need your care, but also help from outside caregivers. They may need to make modifications to their home to accommodate physical limitations. They may also have medical bills piling up that you’re not aware of.
To ensure your loved ones stay in their homes as long as possible, talk with them about using their home equity to their advantage—with a reverse mortgage.
A reverse mortgage draws on a portion of their home equity. Homeowners and homebuyers make no loan payments† for as long as they stay in the home. They can take the proceeds as a lump sum, a line of credit, or as a monthly income stream. Use it to pay down debt, hire in-home care and other support services, or remodel the bathroom to accommodate their needs.
With a reverse mortgage, your loved ones may be able to stay in their home comfortably for years to come.
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Meet with one of AMREverse licensed Reverse Mortgage Specialists to find out what options are available for your loved ones. Our team will answer your questions and help you devise a plan to help your loved ones to maintain independence as they age.