Shifting Into Reverse Blog
#235: Using a reverse mortgage to finance a winter home
STAYING PUT WHILE AVOIDING INDIANA WINTERS A year or two ago, you had come to the decision to remain in your home rather than relocating to a nearby retirement community. However, while even the crazy weather variations of this past Indiana winter have not changed your minds about moving, you have been giving thought to […]
#234: Using a reverse mortgage to cope with early retirement portfolio erosion
SHORING UP THE SEQUENCE OF RETURNS In your very first year of retirement, you found the recent wild fluctuations in the investment markets downright terrifying. While you have never been a “Nervous Nellie” when it comes to your portfolio, having put money into your investment portfolio for as long as you can remember through all […]
#233: Reverse mortgage/ insurance combine to protect next-gen home ownership
AGE-IN-PLACE-THEN-BEQUEATH HOME OWNERSHIP PLAN After sharing with your son, daughter, and daughter-in- law your plan to remodel your home with an eye to “staying put” (as opposed to moving into a retirement facility as your daughter-in-law’s parents have recently done), your daughter (single and living nearby) surprised you by expressing an interest in someday inheriting […]
#232: Housing wealth is a good topic of multigenerational planning
KEY CONVERSATION TOPIC — WHAT-WILL-HAPPEN-WITH-THE-HOUSE? After much, much thought and back-and-forth conversations with each other, the two of you decided you definitely want to live out your lives in the home you’ve owned and lovingly cared for during the entire time of your marriage. True, there have been a few health challenges, but basically (you’re […]
#231: Using housing wealth as a fixed income source
STEADYING THE INCOME STREAM THROUGH HOUSING WEALTH As a widower now into your tenth year of retirement, you have felt able to manage your financial affairs, making calm decisions about investments and lifestyle choices. Given the recent market drop, you realize you would like to be experiencing a higher degree of ‘certainty”. Your home is […]
#230: Using a reverse mortgage to fund special scholarship
HOUSING WEALTH CAN HELP HEALTH SCIENCES STUDENTS BUILD A CAREER While both of you have officially retired for more than seven years, you each serve as part-time adjunct professors at a local college. Both your children, neither of whom lives nearby, seem to be on a good track financially. You’ve long completed the “aging in […]
#229: Giving Her Access to Housing Wealth Along With Housing Security
GIVING HER ACCESS TO HOUSING WEALTH ALONG WITH HOUSING SECURITY Shortly after remarrying five years ago, you took out a reverse mortgage loan on your home, using a portion of the line of credit to totally modernize and equip the kitchen (she is a gourmet cook). At the time, your wife was only 59, and, […]
#228: Plan now to use housing wealth later
WEIGHING FUTURE LONG TERM CARE COSTS WHILE BUILDING HOUSING WEALTH In your early eighties, you feel blessed, having never needed to collect benefits from the long-term care policies on which you’ve been paying annual premiums for the past thirty years. (Concerned by yet another impending escalation in the cost of the inflation rider, three years […]
#227: Using housing wealth to help sisters stay at home
THERE WERE NEVER SUCH DEVOTED SISTERS “Sisters, sisters, there were never such devoted sisters,” Bette Midler and Linda Ronstadt sang back in 2003, and the two of you embody the close-knit relationship depicted in that song…. When the second of your parents died, bequeathing the family home to the two of you sisters, for years […]