Shifting Into Reverse Blog
#244: Using a reverse mortgage to become a homeowner once more
BACK TO HOME OWNERSHIP AGAIN IN INDIANA After retiring several years ago, you relocated from Nevada to Indiana to be closer to family members. At the time, you made the decision to rent an in an upscale apartment community, choosing not to rush into a real estate purchase. As a widow, you needed time to […]
#243: Using a reverse mortgage to buy a second home
SNOWBIRD WANNABES CAN TAP HOUSING WEALTH Prior to your retirement (yours three years ago, hers one year later) the two of you had resolved to remain in your home rather than relocating to a nearby retirement community. Since that time, you’ve hired professionals to bring the house itself “up to speed” – (new roof and […]
#242: Retiring With a Mortgage – a Reverse Mortgage
CHANGING COURSE, STAYING ON TARGET With your wife’s retirement less than half a year away (she will be 65), you’ve stuck with your plan to have your home totally paid for by the time of your own retirement, scheduled for the end of next year. So far, despite the recent rise in everyday costs of […]
#241: Reverse mortgage as an element in one’s estate plan
REVERSE MORTGAGE CAN HELP HOMEOWNER EXECUTE HIS PLAN A frank estate planning/general financial planning discussion with your two children revealed that, while you hope to spend the rest of your days in the home you and your late wife had purchased almost thirty five years ago, neither of the kids has any interest, after your […]
#240: Using a reverse mortgage in combination with a Roth conversion
ROTH CONVERSION/ REVERSE COMBO HELPS CREATE TAX-FREE LEGACY With both of you turning 73 later this year, you’re reminded that you will need to take your first Required Minimum Distributions out of your IRAs. Of the belief that future tax rates are likely to be higher than today’s, you also like the idea of creating […]
#239: Using a reverse mortgage as a rebalancing tool
KEEPING HOUSING AND INVESTMENT WEALTH IN THE BALANCE Following your retirement (yours six years ago, your husband’s a year later), you used a little over half your reverse mortgage line of credit to “outfit” your home for the long haul of “aging in place”. With that big project completed, you have not found the need […]
#238: Using a reverse mortgage funding to enhance your legacy
STEPPING UP YOUR LEGACY While your intention is to continue living at home for the rest of your days on Earth (your husband died almost eight years ago), you realize that, with both your children living in other states, neither is going to want to inherit the house, beautiful as it is, once your own […]
#237: Using a reverse mortgage to finance a “build”
SMOOTHENING THE MOVE FROM OLD TO NEW With both of you now in your in your mid-seventies, you’ve decided it’s time to move out of your three-story home with elaborate landscaping, into something more appropriate to what the AARP likes to call “aging in place.” You have been contemplating building a home that is more […]
#236: Using a reverse mortgage to avoid portfolio drawdown
HELPING WOULD-BE SNOWBIRDS STAY PUT – IN BOTH HOME +PORTFOLIO Recent political and stock market volatility seems to have combined, throwing many of your clients “for a loop”. One retired couple in particular – (for the sake of confidentiality, you refer to them as “Jack and Jill”), are worried that, not only is their portfolio […]