Adam Smith argued in the Wealth of Nations, that the division of labor can dramatically increase productivity and profitability. Today we refer to this as specialization, or dividing a job into separate tasks, each one being performed by a specialist. The idea being that each specialist can become an expert in their task, improving the overall efficiency and end product to the consumer. This concept helped drive the industrial revolution and led to the technology driven world we live in today. We all know and understand this concept, but some of us fail to internalize it in our careers. Those that truly grasp this concept will be able to surround themselves with Trusted Partners that bring value to their own expertise and to their clientele.
As a Trusted Adviser, you surely have the opportunity to work with many that are preparing for or are nearing retirement. Baby boomers have changed the paradigm at every stage in their lives because of the sheer size of this population block. The same is true today as this large group is retiring and making adjustments for their retirement income. Baby boomers are limping towards retirement with significant debt; much more so than their parents. Not all of it is their fault. During the Great Recession, on average, those 50 to 64 years old lost 32% of their net wealth. During this same period, the average debt on their homes spiked to 52%. This could not have happened at a worse time for this large segment of the working population. In 1992, only 19% of households 65 and older carried mortgage debt into retirement, compared to 40% of households in the same age group in 2010. It behooves advisers looking to serve this community to have different strategies and opportunities available to this unique market as their challenges are quite different from the prior generation.
A Reverse Mortgage is a wonderful tool that can be used to assist those that are not as prepared for retirement as they would like to be. In fact, there was $14.88 Billion dollars in HECM Reverse Mortgage endorsements in 2013 alone. The baby boomer generation has much of its wealth locked up in their homes. To access this money, they have a few choices: 1. Sell the home and move to a rental. 2. Sell their home and move to a less expensive home and pocket the profit after closing costs. This strategy can be done using a Reverse Mortgage to purchase the smaller home allowing the homeowner to pocket even more money. Or 3. Stay in their home and access the equity using a Reverse Mortgage. The amount one can receive from this product depends on a few factors; the age of the homeowners, the current interest rate, and the appraised value of the home. Anonymously check your client’s qualification here. This FHA insured program can provide a lump sum payout, a monthly check guaranteed for life, or it can provide a Reverse Mortgage Guaranteed Line of Credit that can be used as needed and will never be reduced or taken away. A Reverse Mortgage is merely a tool to provide much needed cash for the baby boomer generation. This money along with sound advice from professionals can provide this generation with much needed financial security and peace of mind going into retirement.
Contact me today so we can discuss how partnering will add value to your brand as well as to your clientele.
Tags: aarp reverse mortgagealternative solutions to reverse mortgagesare reverse mortgages safebank mortgage reverseCaliforniacalifornia reversecalifornia reverse mortgagecalifornia reverse mortgage lenderCalifornia Reverse Mortgagescan i get a reverse mortgage if i am short moneycan I talk to a reverse mortgage consultant face to faceCitrusdo I have to pay homeowners insurance with a reverse mortgageeliminate mortgageeliminate mortgage paymentEliminate Mortgage PaymentsEliminate MortgagesFHA reverse mortgageFHA Reverse MortgagesFinancial Adviser partneringfinancial adviser reverse mortgagefinancial advisor reverse mortgageget rid of mortgageget rid of mortgage paymentshelp seniors with mortgagehelp seniors with mortgage loanHelp Seniors With Mortgage Loanshelp seniors with mortgage paymentHelp Seniors With Mortgage Paymentshipoteca inversa descuentohipoteca inversa mas baratahipoteca inversa mas dinerohipoteca inversa menos de 62homeHow A Reverse Mortgage WorksHow reverse mortgage worksHow reverse mortgages workHow To Get Rid Of Your MortgageHUD reverse mortgageInfo On Reverse MortgagesInformation On Reverse MortgagesJumbo reverse mortgagelive inlive in homeLive In Homesloan helplos angeles reverse mortgagelos angeles reverse mortgage lenderlowest price on reverse mortgagemortgage + robert wagnermortgage applicationmortgage helpMortgage Help For Seniorsmortgage lendermortgage program reversemortgages for seniorsmost competitive reverse mortgage companyno more mortgageno more mortgage paymentNo More Mortgage Paymentsno mortgage paymentsreputable reverse mortgage companyreversereverse annuity mortgagereverse equity mortgageReverse Equity Mortgagesreverse loanReverse LoansReverse Mortgage - Los Angeles reverse mortgage san diegoreverse mortgage 4th leg of retirement income stoolReverse Mortgage AAG scamreverse mortgage advantagesreverse mortgage annuityreverse mortgage applicationReverse Mortgage ApplicationsReverse Mortgage Arrowhead Credit Unionreverse mortgage baby boomerreverse mortgage bad creditReverse Mortgage bankreverse mortgage bank of americareverse mortgage bankruptcy okReverse Mortgage BanksReverse Mortgage bargainreverse mortgage best servicereverse mortgage brokerReverse Mortgage Brokersreverse mortgage calculatorreverse mortgage calculator anonymousreverse mortgage calculator no personal informationreverse mortgage can I get an annuityreverse mortgage can I redoReverse Mortgage chart of feesReverse Mortgage ChaseReverse Mortgage cheapestReverse Mortgage Companiesreverse mortgage companyreverse mortgage consultantsReverse Mortgage customized servicereverse mortgage debtreverse mortgage disadvantagesreverse mortgage discountedreverse mortgage discountsReverse Mortgage discounts for seniorsReverse Mortgage DVDreverse mortgage effect on heirsreverse mortgage estate planreverse mortgage expertReverse Mortgage ExpertsReverse Mortgage face to faceReverse Mortgage factsReverse Mortgage feesreverse mortgage for buying 2nd homereverse mortgage for fixing up my homereverse mortgage for home remodelreverse mortgage for investingreverse mortgage for investment propertyReverse Mortgage for Law Enforcementreverse mortgage for manufactured home purchasereverse mortgage for manufactured homesReverse Mortgage for PoliceReverse Mortgage for Public Servantsreverse mortgage for seniorReverse Mortgage For SeniorsReverse Mortgage for Teachersreverse mortgage for those under 62Reverse Mortgage Free DVDreverse mortgage guaranteereverse mortgage habla espanolreverse mortgage happyReverse Mortgage HECMReverse Mortgage highest cash outReverse Mortgage highest payoutreverse mortgage highest payoutsreverse mortgage hipoteca inversareverse mortgage how long do I have to wait after bankruptcyreverse mortgage how long do I have to wait after short sale reverse mortgageReverse Mortgage husband is under 62reverse mortgage in 29 palmsreverse mortgage in adelantoreverse mortgage in AlhambraReverse Mortgage in Alpinereverse mortgage in Altadenareverse mortgage in apple valleyReverse Mortgage in ArcadiaReverse Mortgage in banningReverse Mortgage in BarstowReverse Mortgage in BeaumontReverse Mortgage in Bellflowerreverse mortgage in big bearReverse Mortgage in BonitaReverse Mortgage in Bonsallreverse mortgage in BurbankReverse Mortgage in CalabasasReverse Mortgage in CalimesaReverse Mortgage in Canyon Countryreverse mortgage in canyon lakereverse mortgage in carlsbadReverse Mortgage in Castaicreverse mortgage in cathedral cityReverse Mortgage in Cherry Valleyreverse mortgage in chino hillsreverse mortgage in Chula vistaReverse Mortgage in City HeightsReverse Mortgage in ClairemontReverse Mortgage in Coachellareverse mortgage in comptonreverse mortgage in coronareverse mortgage in covinaReverse Mortgage in CraftonReverse Mortgage in Crestlinereverse mortgage in culver cityReverse Mortgage in Descansoreverse mortgage in desert hot springsReverse Mortgage in Diamond Barreverse mortgage in DowneyReverse Mortgage in Eagle Rockreverse mortgage in Eastvalereverse mortgage in el CajonReverse Mortgage in El CerritoReverse Mortgage in Encantoreverse mortgage in Encinitasreverse mortgage in Escondidoreverse mortgage in Fallbrookreverse mortgage in fontanareverse mortgage in fountain valleyReverse Mortgage in FullertonReverse Mortgage in Gardenareverse mortgage in glendaleReverse Mortgage in Grand TerraceReverse Mortgage in Grantvillereverse mortgage in hemetreverse mortgage in hesperiareverse mortgage in high desertReverse Mortgage in Highlandreverse mortgage in HollywoodReverse Mortgage in Homelandreverse mortgage in huntington beachReverse Mortgage in Idyllwildreverse mortgage in imperial beachReverse Mortgage in Indioreverse mortgage in Inglewoodreverse mortgage in IrvineReverse Mortgage in Joshua TreeReverse Mortgage in Jurupareverse mortgage in la canada flintridgeReverse Mortgage in La Crescentareverse mortgage in la HabraReverse Mortgage in La JollaReverse Mortgage in La MesaReverse Mortgage in La PresaReverse Mortgage in La PuenteReverse Mortgage in La QuintaReverse Mortgage in Laguna BeachReverse Mortgage in Lake Arrowheadreverse mortgage in lake elsinoreReverse Mortgage in Lake Los AngelesReverse Mortgage in Lakesidereverse mortgage in Lakewoodreverse mortgage in LancasterReverse Mortgage in Lenwoodreverse mortgage in long beachreverse mortgage in los angelesReverse Mortgage in Lucerne ValleyReverse Mortgage in Lynwoodreverse mortgage in malibureverse mortgage in menifeereverse mortgage in Mira mesaReverse Mortgage in Miramarreverse mortgage in mission valleyreverse mortgage in mission ViejoReverse Mortgage in Moreno Valleyreverse mortgage in murrietaReverse Mortgage in National Cityreverse mortgage in newportreverse mortgage in norcoReverse Mortgage in NorthridgeReverse Mortgage in Nuevoreverse mortgage in oceansidereverse mortgage in ontarioreverse mortgage in orangeReverse Mortgage in Orangecrestreverse mortgage in palm springsreverse mortgage in Palmdalereverse mortgage in pasadenaReverse Mortgage in Pear BlossomReverse Mortgage in PendletonReverse Mortgage in Pinon HillsReverse Mortgage in Porter Ranchreverse mortgage in PowayReverse Mortgage in Quartz Hillreverse mortgage in RamonaReverse Mortgage in Rancho Bernardoreverse mortgage in rancho CucamongaReverse Mortgage in Rancho PenasquitosReverse Mortgage in Rancho Santa FeReverse Mortgage in Redlandsreverse mortgage in redondo beachreverse mortgage in riversideReverse Mortgage in Rowland Heightsreverse mortgage in running springsreverse mortgage in san bernardinoreverse mortgage in san diegoreverse mortgage in san DimasReverse Mortgage in San Gabrielreverse mortgage in san jacintoReverse Mortgage in San MarcosReverse Mortgage in San MarinoReverse Mortgage in San PedroReverse Mortgage in San Ysidroreverse mortgage in Santa Clarareverse mortgage in santa monicareverse mortgage in Santa Paulareverse mortgage in SanteeReverse Mortgage in Scripps RanchReverse Mortgage in Seal BeachReverse Mortgage in Sierra MadreReverse Mortgage in Signal Hillreverse mortgage in Simi valleyReverse Mortgage in Southern CaliforniaReverse Mortgage in Spring Valleyreverse mortgage in sun cityReverse Mortgage in Sunny Slopereverse mortgage in temeculareverse mortgage in the san gabriel valleyReverse Mortgage in Tierra SantaReverse Mortgage in Topangareverse mortgage in TorranceReverse Mortgage in Torrey PinesReverse Mortgage in TujungaReverse Mortgage in TustinReverse Mortgage in Universal CityReverse Mortgage in Valindausing a reverse mortgage for retirement planningReverse Mortgage in Valle Lindoreverse mortgage in van Nuysreverse mortgage in victorvillereverse mortgage in vistareverse mortgage in west covinaReverse Mortgage in Westmontreverse mortgage in whittierreverse mortgage in wildomarReverse Mortgage in WinchesterReverse Mortgage in WoodcrestReverse Mortgage in Woodland Hillsreverse mortgage in yorba lindaReverse Mortgage in YucaipaReverse Mortgage in Yucca Valleyreverse mortgage inforeverse mortgage informationreverse mortgage insuranceReverse Mortgage lenderReverse Mortgage Lendersreverse mortgage line of creditreverse mortgage loanreverse mortgage localReverse Mortgage low feesReverse Mortgage lower IMIPReverse Mortgage lower Mortgage Insurancereverse mortgage lowest feesReverse Mortgage lowest pricereverse mortgage lump sumreverse mortgage monthly checkReverse Mortgage No Bankruptcy seasoningReverse Mortgage no short sale seasoningReverse Mortgage over 1 million valueReverse Mortgage Partnersreverse mortgage paymentsreverse mortgage payoutsreverse mortgage privacyReverse Mortgage Programsreverse mortgage pros and consreverse mortgage protectionsreverse mortgage recommended by AARPreverse mortgage recommended by my doctorreverse mortgage refinancereverse mortgage refinance calculatorreverse mortgage refinance can I get more moneyreverse mortgage refinance highest payoutreverse mortgage refinance what are the rulesreverse mortgage refinancingreverse mortgage retireereverse mortgage retirement incomereverse mortgage riversidereverse mortgage run numbersreverse mortgage san diegoreverse mortgage savingsReverse Mortgage se habla espanolreverse mortgage short sale okreverse mortgage shortagereverse mortgage social securityreverse mortgage testimonialsreverse mortgage to investReverse Mortgage toolreverse mortgage trustreverse mortgage wells fargoReverse Mortgage wife is under 62reverse mortgage will there be equity leftreverse mortgage world war 2 generationReverse Mortgage young spouseReverse Mortgages - Southernreverse mortgages southern Californiariverside reverse mortgageRobert Wagner Mortgagessafest reverse mortgage companysenior loansenior loansstop forclosureStop ForeclosureTrusted Reverse Mortgage Adviserwhat are reverse mortgage payments