Shifting Into Reverse Blog
#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 […]
#270: Using a reverse mortgage as a financial safety net
STAY-AT-HOME SENIOR VALUES INDEPENDENCE Following a round of visiting with former neighbors who’ve sold their homes and moved into various luxury retirement communities, you’ve decided that lifestyle is not for you. Having nursed your husband through an extended illness prior to his passing, you have moved “back into life” again, becoming very involved in community […]
#269: Using a reverse mortgage to fund niece’s ABLE account
AUNT AND UNCLE’S HOUSING WEALTH CAN HELP YOUNGER RELATIVE HELP HERSELF With no children of your own, the two of you (both retired for ten years) have always tried to be there for your six nieces and nephews, in terms of opening your home to them, taking them on trips, offering modest cash holiday gifts, […]
#268: Using a reverse mortgage to pre-fund Long Term Care
LINKING HOUSING WEALTH TO LONG TERM CARE After retiring and relocating to Hoosierland three years ago to be nearer the grandchildren, you’re looking forward to (hopefully) decades of “aging in place” in your much smaller and now beautifully refurbished and fully paid for Indiana suburban home. While in the course of relocating you had updated […]
#267: Using a reverse mortgage to systematize retirement spending
THE “PAY YOURSELF” RULE OF RETIREMENT SPENDING One of the scariest things about retirement, Donna Fuscaldo admits in a recent Kiplinger piece, is that you stop collecting a regular paycheck. The “Pay Yourself” rule of retirement spending is designed to enable retirees to be proactive instead of reactive with their spending, providing consistency by aligning […]
#266: Using a reverse mortgage to
REVERSE MORTGAGE TACK HELPS GRANDPARENTS CHANGE THEIR TUNE Despite having taken a different approach with your children, making clear that, once they’d completed their schooling, their finances would no longer be your concern, you’re now considering offering your very talented grandson help in launching a music school. Very passionate and hard working, he’s raised quite […]
#265: Using a reverse mortgage to replace adult child aid & assistance
REVERSE MORTGAGE CAN BE GRANDPARENTAL GUARDRAIL “It might be time to stop supporting your adult children,” the Economy section of your Indianapolis Star advised, with the part about grandparents’ own financial security being put at risk really “hitting home” to you. “There’s nothing wrong with providing financial support to adult children or grandchildren,” a Credit […]
#264: Using a reverse mortgage as an asset reallocation tool
REVERSE MORTGAGE “OVERLAY” Over the years, you’ve been the one in charge of guiding the direction of the investments, not only in your joint account, but in your own and your wife’s 401Ks (now IRA rollover accounts). Asset allocation has been the guiding principle throughout, but with both of you now entering your late seventies, […]
#263: Reverse mortgage timing
CONSIDERING A REVERSE MORTGAGE? PURPOSE TRUMPS TIMING After much soul-searching (plus attending a number of seminars on the subject of reverse mortgages and the pros and cons of aging in place), the two of you are seriously contemplating taking out a reverse mortgage on your home. While you have done some updating of your home […]