The stock market is in Bear territory and the cost of just about everything is up. Are you like millions of seniors that are finding themselves dipping into their savings more than they planned to at the worst possible time- when their accounts are taking a beating?
What is it doing to your retirement plan? Are you now even more concerned that you could run out of money before you die? Will you have to cut back on your spending and thus your lifestyle or worse yet go back to work? I know, I know you already know that and I'm just throwing salt in the wound, but before you stop reading there may be a way to help you weather this storm.
For many seniors there is one big asset that tends to be overlooked due mainly to a lot of misconceptions, incorrect information and outdated thinking. That asset is the house. Whoa, I know, "hands off," "don't touch my house," "that's off limits!" That's what I mean by misconceptions, incorrect information and outdated thinking.
So many cling to outdated information that was created 50, 60 even 70 years ago and folks I don't know if you've realized this or not, but the times are much different in 2008 than they were in the 1950's, 60's, 70's etc. Different times calls for different measures!
Would the ability to access "tax free" income when you needed it be a benefit to you? If you didn't need the money the amount available could grow each month (the 20 year average annual growth rate is 6.54%), the growth is tax free and not directly tied to the stock market. Does that sound intriguing?
Would it be smarter to pull "tax free" money out of an investment that is not declining in value, but is guaranteed to grow every year when your taxable accounts are getting hammered by a poor stock market environment? Would it be better to leave those accounts alone rather than depleting them as the market is depleting them already?
If you answered "yes" to any of those questions then you need to look into the merits of a Reverse Mortgage. Yes that's right I said "Reverse Mortgage," it's not a four letter word. It's actually what I would call the MOST overlooked financial tool in all of retirement planning.
If you would like more information about Reverse Mortgages contact Kurt Jackson he is a Certified Mortgage Planner with more than 17 years of industry experience and would be happy to answer your questions about Reverse Mortgages. He even conducts a Free Seminar "Insider Secrets Revealed! The Truth about Reverse Mortgages: Is a Reverse Mortgage Right for You?" They are held every Thursday at 1:30PM at 12 Westwoods Drive in Liberty. Seating is Limited. Call for reservations at 816-415-1737 or email kurt@stayinyourhomekc.com.
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