Time Flies Many financial inventions have emerged over the history of the world, including pensions, mutual funds, bonds, life insurance, annuities, thirty-year mortgages, etc. Some have passed with no lasting impact, a number were specialized and not easily accessible to the masses, and others are so new that the jury is still out. However, Reverse… Read More…
“Can I take out a Reverse Mortgage and invest that money?” asked a Time Magazine Reader a couple years ago (read full article HERE). The short answer is yes…if your Advisor wants to get fitted for a new ankle bracelet by the federal government. (I hear they can get itchy after a while.) Here was the actual question: “Dear… Read More…
I recently had a call from an advisor whose retiring clients planned to sell their current home, withdraw $300,000 from their portfolio to add to the sale proceeds, and buy a new house outright. The money they wished to take out represented 25 percent of their accumulated wealth! Fortunately, their advisor convinced them to pause, have an expanded conversation, and consider all the… Read More…
In last week’s post, I shared the 5 Reasons Women Need to Save More for Retirement than Men. (See video below for a quick refresher.) This week I want to continue by unpacking the six most common sources of retirement income and how women, even more so than men, need to maximize each of them. Here are… Read More…
Since completing my Retirement Income Certified professional designation as well as the research I have completed in the past few weeks, I’ve come across several articles highlighting the difficulties in retirement for women…and for good reason. Here are just a few of the startling facts. Unfortunately, women are…. Less likely to have planned or saved… Read More…
Introduction Today’s Podcast was Awesome! I met Tom Hegna several years ago as we shared a small platform at a conference. Tom shared his signature talk on the 7 principles for an Optimal Retirement and I shared how Reverse Mortgages have changed Retirement Income Planning. Tom’s information and presentation were outstanding, but what most captured… Read More…
It’s no secret that retirement today will last longer than that of past generations, and it’s essential that a client’s retirement income lasts just as long. But how do advisors engage in conversations that reveal client expectations, make the clients aware of their own goals and priorities, and help them make the necessary adjustments to… Read More…
Introduction: This was a Phenomenal interview. In less than 17 minutes my guest Mike McGlothlin unpacked the changing nature of Retirement Income Planning and how the Reverse Mortgage has become an integral part of planning for retirement. Mike McGlothlin is the executive Vice President of Ash Brokerage. His team works with registered representatives, bank representatives,… Read More…
Overview Optimizing retirement outcomes for your clients is every advisor’s goal. The 2 minute video below shows how HECMs can be used to create a deferral bridge. The mechanics are very simple: Establish a ReLOC (Reverse Mortgage Line of Credit). See more at www.ReLOC.net. Determine how much monthly or yearly income your clients will need… Read More…
A recent Consumer Protection Finance Bureau white paper entitled, “The Costs and Risks of Using a Reverse Mortgage to Delay Collecting Social Security,” takes a broad swipe at using Reverse Mortgages to support deferral of Social Security benefits and seriously discourages it. To be certain, there are those who appreciate and embrace the report’s findings and… Read More…
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