Shifting Into Reverse Blog
#277: Home equity and Social Security both need to be part of the retirement planning process
PLANNERS: IN THE RETIREMENT PLANNING PROCESS == INCLUDE HOUSING WEALTH AND SOCIAL SECURITY BENEFITS In our last blog post “case study”, we introduced a couple who had calculated that, in order to maintain their desired income level in retirement, it was going to take both Social Security benefit checks to augment the annuity and investment […]
#276: Moving home equity to the front of the retirement income line
SOCIAL SECURITY BENEFITS BETTER CLAIMED LATER THAN SOONER After much thought (arguments, considerations, compromises), you made the decision to retire — both of you –at the end of this calendar year. While the original intent had been for both of you to work until you had both reached “normal retirement age”, you have calculated […]
#275: Same-As and Unique Tax benefits involved in a Reverse Mortgage
REVERSE MORTGAGE FUNDING CARRIES SAME-AS AND UNIQUE TAX BENEFITS Interesting. The two of you just have beaten this week’s filing deadline to get 2026 property tax credits for senior homeowners. With your combined annual income just under $69,000, you were able to qualify for the $150 credit despite the fact that your property has continued […]
#274: Using a reverse mortgage to address the “littler” decisions
MADE THE BIG HOUSING DECISION? FUND THE LITTLER ONES WITH HOUSING WEALTH “Ask yourself the uncomfortable but clarifying question: If someone forced you to do the right thing tomorrow, would I know exactly what that is?” If the answer is no, Pete the Planner says, you have a mechanics problem. If the answer is yes, […]
#273: Using a reverse mortgage to provide security for new spouse
STARTING AFRESH WHLE STAYING HOME In the years following your husband’s death, you had become resigned to spending the rest of your life alone. As fate would have it, you’ve met a wonderful man, himself a widower, and are planning to remarry. While you had originally intended to sell your home this year, moving into […]
#272: Using a reverse mortgage as an estate planning tool
HOME EQUITY — THE SWISS ARMY KNIFE OF ESTATE PLANNING “When it comes to wealth transfer, both givers and receivers need to be seriously strategic. John Vandergriff suggests in a Kiplinger piece With the largest wealth transfer in history beginning to take place, Vandergriff says, parents want to transfer assets as efficiently as possible, leaving […]
#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, […]