Leveraging Reverse Mortgages to Strengthen Retirement Planning
In today’s financial landscape, retirement planning has become increasingly complex. It is crucial for financial advisors and homeowners to explore all available options to secure a comfortable retirement. One often-overlooked strategy is the use of reverse mortgages (RM). Recent data indicates a significant demographic shift with a large number of…
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…
The Federal Reserve announced significant rate increases and warns of a “housing bubble”
Early on in the pandemic the Federal Reserve (FR) slashed the Federal funds rate (FFR) (the rate it charges to banks for overnight borrowing) to stimulate the economy. This was to combat the 22 million Americans that could not work and were unemployed. This huge drop in FFR has an…
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…