Like a passenger on the Titanic discovers the dining table they ate on the evening before is now their life raft, many older homeowners may realize their home was their saving grace all along.

Without a rally, the S&P 500 could close down more than 25% in the end by the end of the year. Investment losses, reductions in dividend income, and inflation are pushing many retirees into a corner having to decide if they’ll reduce their standard of living or find new sources of cash flow.

And like the Titanic’s passengers few ever dream of having to tap into their financial lifeboat, that is until the ship begins to list.

Financial lifeboats aren’t the most tantalizing purchase. In fact, few ever buy one instead hoping that their current course will carry the SS Retirement to the shores of a relatively stress-free retirement. However, financial storms are part of the normal typical economic weather cycle and the world and U.S. economy are about to enter a tempest.

The reverse mortgage lifeboat

One of the more successful individuals I know purchased their lifeboat well before any storm clouds appeared on the horizon. In fact, he got his reverse mortgage nearly a year ago while interest rates were still at historic lows, and home values at their peak. Not only did he buy a financial lifeboat, but he also super-sized it. Instead of immediately tapping into his available line of credit. he instead invested his former mandatory mortgage payment into a voluntary retirement savings plan. Each month he dutifully invests a tidy sum that would have otherwise added to his home’s equity, equity that may significantly diminish in the coming years. If the housing market crashes he’s fine. If his investments take a turn for the worse, he can reinvest and come out ahead instead of panic selling.

Even now it’s not too late for less affluent older homeowners to secure safe passage should their retirement plans slip beneath the waves. They could find immense relief from financial pressure by eliminating any required mortgage payment despite having a modest or inadequate retirement nest egg.

The home is more than where one lives and makes memories. It may also serve as a vessel that helps thousands of older Americans avoid drowning in financial uncertainty and inflation.