A regulator says investors should think twice before taking out reverse mortgages, getting 401(k) plan debit cards or selling life insurance policies to cope with rough times.

Mary Schapiro, chief executive of the Financial Industry Regulatory Authority, Washington, gave that assessment during a recent speech delivered at a meeting organized by Women in Housing and Finance, Washington.

Strategies such as using retirement plan debit cards or engaging in life settlement transactions “should be considered strategies of last resort,” Schapiro said, according to a summary of her remarks provided by FINRA.

“They may raise cash quickly, but each also carries long-term consequences that can undermine financial security in retirement and pose the potential for losing a significant, and sometimes irreplaceable, asset,” Schapiro said.