Financial professionals, what's one best practice for setting up a HECM standby line of credit as a portfolio buffer for clients with high equity and moderate investable assets? Can you share a case where tapping the line during a drawdown preserved the plan’s probability of success?

When clients have a lot of equity but not tons in liquid investments, I always recommend setting up a HECM standby line early, before they need it--timing really matters, because you want that line to grow untouched in good markets. One client of mine used their standby line instead of withdrawing from their investments during a market dive after retirement, which kept their overall nest egg intact and gave them peace of mind until things rebounded. It's all about flexibility and preparing options before you're under pressure--kind of like keeping a spare key under your doormat so you're never locked out when you need it most.