Reverse Mortgage – True or False Quiz

“For the average American couple at age 65, home equity makes up more than two-thirds of their total wealth, according to 2011 U.S. Census data. More specifically, the median net worth for married couples age 65 and older is $284,790. Of this amount, $192,552 is in home equity, and $92,238 is in non-equity assets, including IRAs, other savings, and personal property.” – Journal of Financial Planning May 2017 Paper 

“A reverse mortgage is a powerful tool that should be evaluated in the context of a client’s overall financial plan and investment portfolio.” – Parker Evans, CFA, CFP, CMT

Take the Ten Question Reverse Mortgage Financial Literacy Quiz

The correct answer is shown in the third column. In column four, “Percent Correct” shows the result of a survey of 1,000 Americans ages 55 to 75.

About the Author:

Parker Evans, CFA, CFP, CMT is President of Successful Portfolios LLC, an SEC Registered Investment Advisor Firm based in Clearwater, FL. Parker helps individuals, families, and organizations plan and manage custom investment portfolios at leading brokerages including Charles Schwab, TD Ameritrade, and Interactive Brokers.