Mortgages and Aging... An Epic struggle: Part 5, If you've got it... Plan it!

This is an OBVIOUS post but it is part of the series...

So, you're out there networking and you see a dozen Realtors, ten Mortgage brokers, fifteen rabid title company reps... and one, count 'em ONE, Financial Advisor... and a green one at that!

What's this telling us?  It is harder and harder to find a Financial Planner to work with on our referral lists!

So, you've gotten a refi for your 73 year old Grandma... what to do? what to do?

Well... PLAN THAT MONEY!

Don't let it sit there.  It HAS to be put away.  It has to CREATE something!

So what am I talking about??  Some sort of investment account that is:

• Liquid
• Secure
• Interest Bearing - over the standard bank savings accounts

I personally like annuities in this case for PART of the money - something that basically gives mom and dad some money that automatically pays their bills and then leaves them with something to enjoy life.

The rest of the money can be a little more liquid in a High Yield Savings Account or something like a Money Market.  These have ready access to funds in the case of an emergency need.

But... who am I?? I'm just a Florida Mortgage Broker.

This is the part where you insert your Financial Planner partner and continue the circle of trust!

Huh???

By this point, you've created a trust with that client because you're taking care of them... and so this is when you bring in an estate attorney, a good CPA, and a good Financial Planner.  You sit these people down with your client and their family and let them do their job...

When it is all over, mom and dad have a plan.  They have the ability to repay their mortgage and enjoy their life...

Here are Links to the Other Segments:

1. Introduction
2. Credit Issues for Seniors
3. For HELOC's Sake
4. Flow Flow Flow the Cash
5. The Cash in the Mattress vs The Cash in the Walls  
6. What type of Mortgage did you say again??
7. As a last resort...