Use a Reverse Mortgage strategically for deductions when needed and grow the Line of Credit simultaneously ; Excerpts from “The Street” website (see link below)
Reverse Mortgages (RM) are most often used to eliminate monthly mortgage payments, although borrowers are required to continue to make their home insurance and property tax payments. Occasionally, a retiree may only want to lower their monthly mortgage payment to one that is more comfortable for them and they may…
Effectively use home equity in your retirement plan for the bucketing approach
My kids have been putting some money aside in a secret hiding spot so they can buy the newest and greatest video game system. Without knowing it, they have been using a type of bucketing system to accomplish their goals. Investopedia defines bucketing for retirement like this: “Bucketing segments funds…
Options that will increase your social security check
American retirees today are less prepared than previous generations. Many retirees believe that you need over $1 Million dollars saved to properly retire. Yet, according to a BankRate survey in 2017 those aged 56 to 61 only have $163,577 set aside for their golden years. This indicates a huge dependence…
Dramatically increase your Social Security Check
Recent reports in the media have scared some people into feeling like they may never be able to retire. Previous generations saw many retire at age 50 because they had a nice pension and would receive social security payouts as well. Unfortunately today, so many have not properly prepared for…
