Turning 62 doesn’t usually come with fireworks or formal milestones. But for many people, it’s a point in life when new options start to become available—and when it makes sense to take a step back and think about what’s next.
This is often the age when you become eligible for Social Security benefits. And for homeowners, it’s also when age-based home equity options, including reverse mortgages, may enter the picture. These milestones don’t require immediate decisions, but they do give you more choices.
That’s why many people see 62 as a natural time to think a little more intentionally about the years ahead—whether that means working less, spending more time with family, traveling, or making plans to stay comfortable and independent at home.
There’s no one right way forward. But understanding your options can help you feel more prepared to choose what makes the most sense for you.
Your Priorities: Rethinking Work, Time, and Flexibility
By your early 60s, work often starts to feel different. Some people are ready to step away entirely, while others want to stay engaged—just with more flexibility and fewer demands.
For many, this stage brings a shift from maximizing income to prioritizing control. Control over your schedule. Control over your energy. And control over how much time you reserve for yourself, your family, and the things you enjoy.
At the same time, it’s realistic to recognize that expenses don’t simply disappear in your 60s. With today’s cost of living, many people find that careful planning matters more than ever. That’s why 62 can be a good time to review your financial picture and learn about options that may help support both your desired work-life balance and your long-term plans.
Your Health: Routines, Mobility, and Mindfulness
When it comes to health in your 60s, many people focus on consistency—everyday habits and routines that support mobility, comfort, and confidence over time.
Small choices made earlier often make a more meaningful difference later. Preventive care, staying active, and maintaining routines that support both physical and mental well-being can help manage health-related costs as you approach or enter retirement—an area that represents one of the largest ongoing expenses for many.
Your Home: Aging in Place, Comfort, and Independence
Your home isn’t just where you live—it’s where you’ve made countless cherished memories. And for many homeowners, it’s where they hope to stay for years to come.
Aging in place has become a clear priority for people who value familiarity, community, and independence. According to a 2024 AARP study, 75% of Americans age 50 and older say they would like to remain in their current home for as long as possible.1 Doing so comfortably, however, often takes thorough planning.
Around this stage of life, many homeowners begin thinking about how well their home will support their evolving needs over time. That may include making practical updates like improving bathroom safety, reducing fall risks, adding main-floor living features, or keeping up with maintenance—ideally, without adding financial strain.
For many homeowners, this is where home equity becomes part of the conversation. Many choose to think about tapping into their equity early in retirement, viewing it as a flexible resource that can help support home improvements, everyday expenses, and long-term independence at home.
Your Relationships: Family Ties, Responsibilities, and Boundaries
Life at 62 often comes with competing responsibilities. Adult children may still need support. Aging parents may need more care. Grandchildren may be entering the picture.
This stage often requires clearer boundaries—protecting your own stability while still being there for the people you love. Financial clarity and housing security can play a meaningful role in reducing stress during these transitions.
Your Finances: Confidence Over Perfection
By this point, many people have done a lot “right” financially—saving, paying down debt, building equity, and planning for the future. But that doesn’t mean uncertainty disappears.
Instead of striving for perfection, this stage often calls for confidence: understanding what resources you have, how flexible they are, and how they can support the lifestyle you want.
Bringing it All Together
For many homeowners, home equity is one resource that can help support the kind of flexibility this stage of life often calls for. If you’re 62 or older, learning how your home equity could be used—whether to fund home improvements for safer aging, help manage healthcare or everyday expenses, or simply create more financial breathing room—can be an important part of planning ahead.
Different solutions offer different benefits, depending on your unique goals and circumstances. Some homeowners explore a Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, which allows you to convert a portion of your home equity into cash without taking on a required monthly mortgage payment (borrowers must continue to meet obligations such as property taxes, insurance, and home maintenance). Others may consider HELOC For Seniors®, a first-of-its-kind home equity line of credit designed specifically with retirees in mind, offering flexibility that traditional HELOCs don’t.
At Longbridge, we believe feeling confident about your future starts with understanding your options. Our role is to help you explore home equity solutions responsibly—so you can make informed decisions that support your long-term comfort, independence, and peace of mind.
If you’d like to learn more about how your home equity could support your next chapter, we’re here to help. Contact the Longbridge team today to get started.