Shifting Into Reverse Blog
#91 Estate & Income Tax Planning – The Forgotten Strategy of a Reverse Mortgage & Roth Conversion
Estate & Income Tax Planning – The Forgotten Strategy of a Reverse Mortgage & Roth Conversion Home prices have recently reached historic highs in the United States with the median home sales price increasing to over $400,000.00. Many homes have over $1,000,000 of equity built up over the years. This provides for excellent opportunity to […]
#90 “Even newer need” reverse mortgage guidance for financial advisors
NOT THEIR FATHERS’ “NEEDS-BASED” NEEDS June 28th, 2022 “Get ready to discard old notions of who a needs-based borrower really is,” comments blogger Shannon Hicks, explaining that house-rich, very cash-poor retirees used to be the ones who turned to reverse mortgages, making ends meet by eliminating their monthly mortgage payment. In contrast, today’s retirees, she […]
#89 A reverse mortgage can finance retirement living right at home
READY TO RETIRE IN A FIRST HOME … June 21st, 2022 The two of you have always done things just a little bit differently. While most of your friends have owned homes, with some now relocating to retirement communities, you’ve always rented, moving from place to place to accommodate various long-term corporate consulting assignments. Now, […]
#88 Using a reverse mortgage to fund a 529
LAW CHANGE + HOUSING WEALTH = EDUCATION FUNDING For the past two years, you have been helping your son by contributing towards his oldest daughter’s college costs. You stayed away from opening a formal college savings plan, because you had heard that, as your granddaughter would make withdrawals to pay college expenses, that would have […]
#87 Using a reverse mortgage to reduce monthly expense drain
PUTTING A CHECK VALVE ON MONTHLY CASH OUTFLOW June 7th, 2022 Just four short years ago, when you both retired from full-time careers, you thought you had a foolproof plan in place for managing regular expenses and keeping up with the maintenance of your beautiful home and grounds. The plan was to postpone social security […]
#86 Using a reverse mortgage to cover tax on Roth conversion
HOUSING WEALTH HELPS MAKE ROTH CONVERSION FEASIBLE May 31st, 2022 As you enter your 70s, you’ve been considering converting your IRA account to a Roth before being obliged to take – and pay tax on, required minimum distributions. The size of the tax bill that would immediately come due has thus far scared you off […]
#85 Using a reverse mortgage to stop cash outflow
TURNING OFF THE MORTGAGE PAYMENT May 24th, 2022 After toying with the notion of moving to a smaller home, the two of you have decided to stay put. In the recent ‘hot” real estate market, you knew, the profit from selling might have liquidated your mortgage debt and still enabled you to afford the new […]
#84 Using a reverse mortgage to round out investment strategy
USING HOME EQUITY AS A FIXED DOLLAR INVESTMENT David Garrison Home Equity Retirement Specialist NMLS # 1595194 Serving the State of Indiana p (317) 644-2595 c (765) 516-0130 e [email protected] 2169 East Rutland Lane, Martinsville, IN 46151 Corporate NMLS #1025894 May 17th, 2022 Five years ago, having made the decision to spend the rest of […]
#83 Using a reverse mortgage to help child over a hard spot
HOME EQUITY ENABLES PARENTAL RESCUE PLAN David Garrison Home Equity Retirement Specialist NMLS # 1595194 Serving the State of Indiana p (317) 644-2595 c (765) 516-0130 e [email protected] 2169 East Rutland Lane, Martinsville, IN 46151 Corporate NMLS #1025894 May 10th, 2022 There’s never a good time for bad things to happen, and unfortunately, just as […]