Shifting Into Reverse Blog
#279: Using a reverse mortgage to age in place – a new place!
SIZING DOWN, UPPING CONVENIENCE AND SAFETY Now (finally!) both fully retired, you’ve come to the decision about what you do – and don’t – envision for yourselves in terms of your environment. Bottom line: you do not envision moving into a retirement community – or facility. At the same time, you realize that the […]
#278: Using a reverse mortgage to fund deferred maintenance and renovation
HOUSING WEALTH ENABLES AGING IN PLACE IN AN OLDER HOME Discussing the article about Indianapolis’ “aging housing stock problem”, you remarked to each other that you’re right in the middle of it…. the aging housing stock problem. While you love your home — and had made the decision four years ago, when you’d both retired, […]
#277: Home equity and Social Security both need to be part of the retirement planning process
PLANNERS: IN THE RETIREMENT PLANNING PROCESS == INCLUDE HOUSING WEALTH AND SOCIAL SECURITY BENEFITS In our last blog post “case study”, we introduced a couple who had calculated that, in order to maintain their desired income level in retirement, it was going to take both Social Security benefit checks to augment the annuity and investment […]
#276: Moving home equity to the front of the retirement income line
SOCIAL SECURITY BENEFITS BETTER CLAIMED LATER THAN SOONER After much thought (arguments, considerations, compromises), you made the decision to retire — both of you –at the end of this calendar year. While the original intent had been for both of you to work until you had both reached “normal retirement age”, you have calculated […]
#275: Same-As and Unique Tax benefits involved in a Reverse Mortgage
REVERSE MORTGAGE FUNDING CARRIES SAME-AS AND UNIQUE TAX BENEFITS Interesting. The two of you just have beaten this week’s filing deadline to get 2026 property tax credits for senior homeowners. With your combined annual income just under $69,000, you were able to qualify for the $150 credit despite the fact that your property has continued […]
#274: Using a reverse mortgage to address the “littler” decisions
MADE THE BIG HOUSING DECISION? FUND THE LITTLER ONES WITH HOUSING WEALTH “Ask yourself the uncomfortable but clarifying question: If someone forced you to do the right thing tomorrow, would I know exactly what that is?” If the answer is no, Pete the Planner says, you have a mechanics problem. If the answer is yes, […]
#273: Using a reverse mortgage to provide security for new spouse
STARTING AFRESH WHLE STAYING HOME In the years following your husband’s death, you had become resigned to spending the rest of your life alone. As fate would have it, you’ve met a wonderful man, himself a widower, and are planning to remarry. While you had originally intended to sell your home this year, moving into […]
#272: Using a reverse mortgage as an estate planning tool
HOME EQUITY — THE SWISS ARMY KNIFE OF ESTATE PLANNING “When it comes to wealth transfer, both givers and receivers need to be seriously strategic. John Vandergriff suggests in a Kiplinger piece With the largest wealth transfer in history beginning to take place, Vandergriff says, parents want to transfer assets as efficiently as possible, leaving […]
#271: Advising clients for whom linked benefit insurance won’t work
HEALTH WON’T ALLOW FOR EITHER LONG-TERM CARE OR LINKED BENEFIT INSURANCE? LINK HOME EQUITY TO AGING IN PLACE As a financial planner, you understand that one of main budgeting challenges your clients will face as they enter into retirement will be related to health costs. With that in mind, while you are not yourself a […]