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Is liquidating an IRA better than a reverse mortgage?

Should clients use home equity to fund retirement?
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EPISODE #748
Should I plan to liquidate my IRA and get a reverse mortgage?

[NewJersey-com ] One reader asks a local financial columnist if it’s better to liquidate her IRA as her own private reverse mortgage. The implications are stark…

Other Stories:

  • Retirement Delays Create Challenges for Plan Sponsors Highlighting Opportunities for Financial Professionals and Consultants

  • Advisor’s Edge: Should clients use home equity to fund retirement?

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Editor in Chief: HECMWorld.com
 
As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
 
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
 
Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.

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2 Comments

  1. E-#748- Excellent podcast. People are postponing their retirement. A reverse mortgage is truly a financial planning tool.

  2. Many have pointed to Canada as providing better “equity release” products than the US. The proposed 65% limit under consideration in Canada once again shows why the HECM is superior to all other reverse mortgages within the principal limit ranges it allows.

    As to the inevitability of housing wealth becoming a part of financial retirement planning, that seems more industry hype to excite industry origination morale than reflect current attitudes of the more sophisticated financial advisers. In many parts of the financial services industry even annuities (except for use in terminating defined benefit retirement plans) are looked upon as more commission driven gimmick than sound cash flow providing product. So why would RMs fare any better? By and large, do you really think that more sophisticated financial advisors trust RM originators any more than annuity salespeople?


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