reverse mortgage retirement planning: Reverse Mortgages…."Why Should I Get One?" - 05/21/14 02:48 AM
Reverse Mortgages…."Why Should I Get One?"
One of the questions consumers ask me during our initial conversations is: "why should I get a reverse mortgage?"
I understand that they come from a place of misinformation where the reverse mortgage is a loan of last resort, only to be used if you want to pay off your mortgage (and have a little extra saved up) and should never be considered if you have a retirement plan in place.
Nothing could be further from the truth.
Not only has the Financial Industry Regulatory Authority stated that the reverse mortgage is no longer a loan … (2 comments)

reverse mortgage retirement planning: Most Long-Term Healthcare Services are Received at Home… - 05/15/14 01:06 AM
Most Long-Term Healthcare Services are Received at Home...
Aging in place is becoming a more prominent alternative to seniors who are retired or retiring in the future, especially considering their choices when it comes to receiving long-term healthcare services.
According to an article published by Reverse Mortgage Daily, which cites an report conducted by the CDC's National Center for Health Statistics, 56% of the 8.4 million older Americans who received healthcare services received them at home.
If this is an indication to the current state of long term healthcare then older Americans will need to secure more stable methods of income in … (2 comments)

reverse mortgage retirement planning: Reverse Mortgages Are Kinder and Gentler After Changes - 03/24/14 03:21 AM
Reverse Mortgages Are Kinder and Gentler After Changes
In the past few months, since the changes to the reverse mortgage brought the program back to basics, many financial planners are finally seeing the benefits, not only to the changes, but also to the program itself.
The reverse mortgage was never created to be a “loan of last resort,” even though many borrowers used it as such. In fact, it was created as a way for borrowers to age in place comfortably and use the equity they have built up throughout the years. In all honesty, the reverse mortgage was meant to … (4 comments)

reverse mortgage retirement planning: How Baby Boomers Will Change Retirement - 12/08/13 11:11 PM
How Baby Boomers Will Change Retirement (Planning)
Every generation will leave their mark somehow, someway. While we can never be sure what their mark will, it seems that the baby boomer generation will leave its mark on retirement (and what future generations will think about it for years to come).
An article published in Senior Living (based on a news release from Merrill Lynch) detailed how retirement will be changed by baby boomers, by mixing work and play, like no other generation has done before. Here are some of the ways baby boomers will change retirement as we know it:
There is … (10 comments)

reverse mortgage retirement planning: Is Right Now the Worst Time to Retire? - 11/24/13 11:24 PM
Is Right Now the Worst Time to Retire?
It has been said before and I'll say it again: retirement is slowly becoming that far off dream that everyone hopes to achieve but few ever do.
It's important to also note that the retirement I'm talking about is the textbook definition of retirement: "relaxing comfortably and without worries, etc." For retiring baby boomers and future retirees, this "textbook" retirement could look more like "working part time to supplement my low fixed income".
It's one of the harshest realities older Americans are going to have to face as the cost of living rises and previous … (3 comments)

reverse mortgage retirement planning: What's a Baby Boomer to Do? - 11/18/13 11:34 PM
What's a Baby Boomer to Do?
With More Debt During Retirement...
It's troubling to see that the debt that continues to trouble baby boomers as they enter their retirement is showing no signs of slowing down.
In fact, according to an article published in the New York Times, the Consumer Financial Protection Bureau estimates that "30% of all homeowners 70 and older have mortgages to pay off. In 2001, just 8% carried mortgage debt into retirement.
This is an increase of 22% in just over a decade. 
Most of this debt can be attributed to the Recession of 2007-2009. As home values plummeted, homeowners owed … (8 comments)

reverse mortgage retirement planning: Saving for Retirement...Why Does It Continue to Fall Behind? - 08/06/13 12:07 AM
Saving for Retirement...
Why Does It Continue to Fall Behind?
I have to say I have no idea. Retirement savings continue to fall behind despite the fact that older Americans need at least 70% of working income, accroding to a news report by Interest.com, in order to retire comfortably and without the stress of impoverishment.
It's a shocking number, and to Americans who haven't given saving for retirement more than a minimal once over, it can make a difference in how they live during retirement, if they retire at all.
One issue is how much is enough and how much … (2 comments)

reverse mortgage retirement planning: The Wild, Wild West of Retirement Planning - 07/16/13 06:04 AM
The Wild, Wild West of Retirement Planning
WSJ says: "Using your nest to help with your nest egg..."
What used to be viewed as the "Wild Wild West" of retirement planning (reverse mortgages) has become a more cost-effective option for senior homeowners looking to supplement a comfortable retirement and take advantage of the equity their home has acquired throughout their lifetime.
In an article, published by The Wall Street Journal, entitled "Advisers Reverse Thinking on Reverse Mortgages," author Tom Lauricella describes how the reverse mortgage program went from being the red-headed stepchild of the mortgage broker to a possible retirement planning technique for … (0 comments)