Shifting Into Reverse Blog
#109 Substituting reverse mortgage draw-downs for IRA withdrawals
EASING THE BURDEN OF SOCIAL SECURITY’S “GOOD NEWS” November 8th, 2022 You’ve just realized that all the Social Security “good news” flooding your newsfeed might well be bad news in disguise when it comes to taxes. Yes, you’re each scheduled to receive a hefty raise in your Social Security benefit due to the more than […]
#108 Using a reverse mortgage as a stabilizer during stock market turbulence
HOME EQUITY – A STORM SHELTER DURING MARKET TURBULENCE November 1st, 2022 When you retired from full time employment just four years ago, you never imagined becoming a “poster child” for the “negative sequence of returns” you’d read about in the magazines and journals.. Divorced ten years ago, you were awarded sole ownership of your […]
#107 Using a reverse mortgage to replace credit card debt
AFTER SETBACKS, CONVERTING TO A MORE MANAGEABLE FORM OF DEBT CAN BE HELPFUL October 25th, 2022 The past three years have, unfortunately, not been good ones for the two of you. Although you had generally been very prudent about managing your finances, you were forced into taking retirement years earlier than planned, because your employer […]
#106 Using a reverse mortgage to manage rising expense
SHORING UP RESOURCES IN PREPARATION FOR RETIREMENT October 11th, 2022 With retirement from full time employment planned for 2025 (when you will turn 65), you’re beginning to scrutinize your budget, estimating which expenses are likely to escalate (and at what estimated rate). In addition to holding a full time job, you run a part-time, independent […]
#105 Using a reverse mortgage to build up Roth inheritance for adult child
BUILDING DAUGHTER’S INHERITANCE FROM BOTH DIRECTIONS October 11th, 2022 As a single gentleman at the “ripe old age” of 71, you’re still able to command a sizeable income, and God willing, hope to continue your very active lifestyle indefinitely. While you travel extensively, you’re proud of your home, which you’ve kept in good repair and […]
#104 Using a reverse mortgage to help make Long Term Care insurance premiums affordable
FOR LONG TERM CARE INSURANCE, REVERSE MORTGAGE CAN REPLACE “RIDERS” September 27th, 2022 With your third child now finished with college and all three seemingly firmly ensconced in the world of work, the two of you have begun to focus your attention on your own future financial security. In your early 40s with full-time careers, […]
#103 Using a reverse mortgage to avoid 401K withdrawals
REVERSE MORTGAGE FOR WHEN BEST-LAID PLANS GO AWRY September 27th, 2022 A little over two years ago, you accepted a buyout offer from the company where you’d worked for thirty-one years. At the time, there seemed to be several alternate employment opportunities (in any event, you would have been let go in the downsizing). Unfortunately, […]
#102 Using a reverse mortgage to provide help to your adult children
REVERSE MORTGAGE September 20th, 2022 It’s ironic, those recent headlines about forgiveness of student loans, since the two of you had agreed long ago to pay for your three children’s college education (and did just that). Post Bachelor’s degree, the concept was, each child would be responsible for his or her own support. Your general […]
#101 Using a reverse mortgage to add a granny flat
MAKING ROOM FOR MOM WITH THE HELP OF A REVERSE MORTGAGE September 13th, 2022 After your husband died several years ago, you had been strongly considering selling your home. After retiring from your position as executive assistant, you contemplated living in a retirement community. Since then, you’ve changed the direction of your planning. With your […]