Jack Guttentag writes in Forbes, “About 60% of the homeowners reaching 62 today have outstanding mortgage balances, and most of them have limited financial assets”
Continue readingRMI’s Market Minute- What a ride!
Housing Market Predictions For The Next 5 Years
What will the housing market look like in the coming five years? Forbes asked experts for their predictions and here’s what they had to say…
Continue readingIs liquidating an IRA better than a reverse mortgage?
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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…
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Advisor’s Edge: Should clients use home equity to fund retirement?
No wants a lifeboat until…
Like a passenger on the Titanic discovering the dining table they ate on the evening before is now their life raft, many older homeowners may discover their home was their saving grace all along
Continue readingThe harsh reality no one wants to talk about
Reality has a way of stripping away our notions of what financial subjects are taboo or off-limits. Perhaps older Americans will embrace a more pragmatic view of debt, inheritance, and home equity in these difficult times.
Continue readingRetirees Face the Consequences of a Manufactured Recession
These are the consequences retirees now face in the midst of a manufactured recession…
Continue readingAs the Market Falls, New Retirees Need a Plan
[Kiplinger] “Anyone newly retired or nearly so must feel like they have the worst timing in the world. A portfolio tends to be largest near retirement, just before those savings are about to be drawn down.”
Continue readingThe Three Cs of Retirment Planning
One reader asked, “I’m set to retire later this year and my portfolio is down 30 percent. What should I be doing? “
Continue readingHelping the Overlooked Majority
“The median net worth of retirees aged 65-74 was only $266,000 in 2019, of which $240,000 was in their homes. All indications are that in the last few years, the problem has gotten worse.”, writes Jack Guttentag, AKA the Mortgage Professor, in a recent Forbes column last week.
The problem has indeed worsened thanks to record-high inflation which has hit older Americans living on a fixed income especially hard. Guttentag’s solution is the integration of financial advisors, HECM originators, and insurance professionals- each participating in a coordinated plan to help the client have adequate cash flow throughout retirement.
That appears to be a worthy plan for…
Is now a good time to tap into home equity?
With home values falling and interest rates rising here are some questions those considering a reverse mortgage should ask…
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