Is a Reverse Mortgage Right for Your Client? Here Are Ten Questions to Get Started

An Excerpt from The Retiree's Guide to Housing Wealth

Retirement has changed significantly from what our grandparents and even our parents experienced not too long ago. We’re living longer, healthier lives, but with that comes the added stress of maintaining your desired lifestyle for a lengthier retirement. You know it’s necessary to plan ahead and consider all your available retirement tools, but is it possible you’re overlooking the most valuable tool of all – your Housing Wealth?

I’ve invested my time and energy over the past 20 years to help people just like you understand the importance of their Housing Wealth, how to best access it, and how to use it efficiently in their retirements. To begin, I always ask my clients and their families this question: Are you making full use of your Housing Wealth to create the type of retirement you most desire?

In order to truly determine the answer, I’ve developed an easy, 10-question assessment for you to take. The assessment will do the hard work for you. It determines if the new reverse mortgage could work for your particular situation.

Although it does not explore every question that could be asked, it does provide enough insight to determine if continuing the journey makes sense. Whether for yourself or on behalf of a friend or family member, I ask you to take three minutes and honestly answer the questions.

You will have the choice of selecting Yes, No or Not Sure/Not Applicable. Let’s get started!

Ten Questions

  1. Am I, or my spouse age 62, or older, and own a home?
  2. Am I planning to stay in my home for at least the next 5 years?
  3. Do I currently have a monthly loan payment?
  4. Would eliminating a mandatory monthly loan payment be helpful?
  5. Am I open to moving if it meant a better retirement lifestyle and added savings?
  6. Would having access to additional monthly income, if needed, be helpful?
  7. Do I have any concerns that my savings will last for the duration of my retirement?
  8. Is it important to me to have a back-up plan for stock market volatility and inflation?
  9. Would it be valuable to have a tax-free reserve fund to cover unexpected expenses, emergencies or unplanned purchases?
  10. If my out-of-pocket healthcare costs exceeded $100,000, would this be a strain on my retirement savings?

{Article} Four Clients That Should NOT Be Considering a Reverse Mortgage

Understanding Your Score

Simply add up how many times you answered Yes and follow the corresponding suggestion.

0-1 times
It looks like you don’t need this book at present. Perhaps you know someone who would benefit from reading it; feel free to pass it on.

2-3 times
You may find only some sections of this book will be helpful; perhaps skip to Section Five: Additional and Advanced Strategies.

4-6 times
This book will absolutely offer you helpful advice; pay close attention to Section Three: The Five Foundations of Housing Wealth.
7 or more
You’re exactly in the right position for this book to offer the most value; don’t skip a single word.

How to Work with Don 

Would you like to see how the newly restructured reverse mortgage can help you impact your existing clients and even find new clients?
I would like to show you. If you are not currently working with a Housing Wealth planner, then click Here to see how we could work together.

Also, if you have a comment, question or you are an advisor and would like to order multiple copies of my books at a deep discount, please contact us.

Preview the Advisor’s Certificate Course in Housing Wealth 

Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®
Don Graves, RICP® is a Retirement Income Certified Professional and one of the Nation’s Leading Educators on the Emerging Role of Reverse Mortgages in Retirement Income Planning. He is president and founder of the HECM Institute for Housing Wealth Studies and an adjunct professor of Retirement Income at The American College of Financial Services. He has helped tens of thousands of Advisors as well as more than 3,000 personal clients since the year 2000
Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®
Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®

Categories: Advisors, Financial

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