In the email editor do the following:
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Highlight your text to link
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Give it a link name with the "#", ex: #link1
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Next scroll to where ever you want to link to for example a word at the bottom of the document:
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highlight the text
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hit the anchor icon and give it the same name you gave the previous link but this time WITHOUT the "#"
Note: Anchor links may NOT be supported by "every" email client, so its really best to keep email short and link out to a actual page with the content as a best practice:
http://blog.mailermailer.com/tips-resources/anchor-tags-html-emails