A reverse mortgage is a powerful financial tool because it brings home equity into the retirement planning picture. In this article, I want to lay out my own reverse mortgage retirement plan. If you’re like many people, you may be surprised that I’ve included a reverse mortgage in my retirement plan. After all, aren’t reverse … Read More >>
Nobody wants to run out of money and be financially shipwrecked in retirement. Unfortunately, there is a lurking and potentially devastating danger out there that can wreck even the best of retirement plans. In this article, I’d like to lay out a unique and little-known strategy (even to financial planners) that can help protect your … Read More >>
Many seniors have the impression that reverse mortgages are expensive – mainly because of the closing costs. Yes, depending on the scenario, reverse mortgage closing costs can sometimes be pricey, but not always. Regardless of what the closing costs are, the overall cost of a reverse mortgage is often comparable to other common retirement and … Read More >>
Does your financial plan include “retirement insurance”? I’m guessing you’ve never heard of such a thing, right? The term is sometimes used to refer to Social Security or insurance products that target retirees, but that’s not what I’m referring to here. There is no insurance product called “retirement insurance”, but there is a strategy that … Read More >>
The HECM reverse mortgage is a fantastic home loan product. Though it can benefit seniors with a variety of financial goals and needs, what does the ideal reverse mortgage candidate look like? Who is the program most ideally suited for? I’ve helped hundreds of seniors get reverse mortgages over the years. Though a reverse mortgage … Read More >>
I have to admit I get a little annoyed at some of the articles and advice published in the media about reverse mortgages. Pundits and journalists generally mean well, but the advice they give is often based on the the rampant misinformation circulating about reverse mortgages. Case in point: a “Dear Penny” column that appeared … Read More >>
If you’re not familiar with the term sequence risk, you definitely should be. It’s a potentially devastating lurking danger that can completely swamp an otherwise solid retirement plan. Brian Davis wrote a great article over at Bigger Pockets on this topic a while back and I’d like to build on what he wrote. If you haven’t … Read More >>
So you’ve paid off your house and are headed for a mortgage-free retirement. Fantastic! Retiring without a mortgage payment means you can more easily live on a lower retirement income and preserve your retirement savings for longer. Though retiring mortgage-free is a great accomplishment, it comes with a potentially big problem. And I’m not referring … Read More >>
The HECM reverse mortgage line of credit is a great financial tool for many seniors. If you owe little to nothing on your home, the HECM line of credit can turn a portion of your home’s value into a tax-free retirement “account” that will grow larger over time. Let me show you how with a … Read More >>
