With coronavirus shutdowns wreaking havoc on the global economy, investment portfolios are also getting battered. The S&P 500 is down more than 10% since the start of the year.
While that’s unpleasant for most investors, it’s especially devastating for retirees who count on their investments for income. And when those declines come at the beginning of retirement, they can permanently lock in a lower nest egg, known as sequence of return risk.
This CNBC article discusses why it's not a good idea to make portfolio withdrawals during a market decline and how a reverse mortgage can provide Seniors with access to cash.