SPRINGWATER C APITAL

Size: px
Start display at page:

Download "SPRINGWATER C APITAL"

Transcription

1 SPRINGWATER C APITAL RETHINK REVERSE increase portfolio longevity with a reverse mortgage LEARN HOW UTILIZING HOME EQUITY CAN BETTER YOUR CLIENT S FINANCIAL POSITION BY: Eliminating monthly mortgage payments Improving liquidity and cash-flow Providing a low-cost, growing line of credit Protecting portfolio performance in a down market Offering credit requirements specific to the senior demographic Deferring and maximizing Social Security benefits springwaterc.com

2 Discover the new REVERSE MORTGAGE We recognize the trusted role you play in your clients financial security. Your knowledge and planning ensure each one of your clients has a viable and secure retirement portfolio. For many, the time has come to begin disbursement plans in a responsible and sustainable way. A reverse mortgage is something we want all retirement planning professionals to understand thoroughly. It has become one of the safest and smartest options for portfolio longevity and security. The new reverse mortgage has a variety of options and consumer protections in place to provide your clients with more confidence to stay retired. Springwater Capital promises you the most exhaustive, thoughtful and strategic reverse mortgage services available, at no cost to you. We look forward to helping you identify HECM strategies for your clients. What is a reverse mortgage? A reverse mortgage is a way for borrowers age 62 or older to unlock the equity in their home by turning it into tax-free cash without the borrower needing to make monthly mortgage payments. How would a reverse mortgage help your client with their retirement portfolio? A reverse mortgage provides a potentially inexpensive, easy-to-qualify, tax-free, liquid cash reserve for various uses. 2

3 HOW CAN A REVERSE MORTGAGE BE USED FOR RETIREMENT SECURITY? Replace cash reserves Delay Social Security and pension payouts Tax-free loan proceeds may reduce tax liability Postpone drawing down retirement assets, giving assets more time to grow. Cover large unexpected expenses such as medical bills or home modifications. Eliminate existing mortgage for clients who still have a traditional mortgage balance Finance a new residence through the HECM for Purchase product. Also, a reverse mortgage does not affect traditional governmental retirement benefits, such as Social Security and Medicare. How much does a reverse mortgage cost? Many of the same costs associated with a regular mortgage apply to reverse mortgages. Clients will be charged an origination fee, a mortgage insurance premium (MIP), an appraisal fee and standard closing costs. In most cases, these fees and costs are capped and may be financed using the proceeds of the reverse mortgage. What are the qualifications? The youngest borrower on title must be 62 years of age or older. The home must be the borrower s primary residence. The home equity must exceed 40% in most cases, depending on the borrower s age. What are some challenges associated with this loan? A reverse mortgage is a home loan, so advisors may need to confront debt-adverse clients about creating debt against a debt-free asset. Advisors may also have to work with family members who don t want their inheritance diminished. 3

4 THE BIG PICTURE Home equity is another tool to help clients reach their goals during retirement planning. SIX MAJOR PORTFOLIO SURVIVAL RISKS: 1. Less Structured Assistance Diminished roles of benefit plans from both the government and the workplace. 2. Market Volatility The market has experienced greatly varying annual return over the last 30 years. 3. Inflation Based on historical average inflation rates, if your client requires $50,000 to maintain their present lifestyle, they will need over $131,000 in 25 years just to keep pace. 4. Longevity One member of a 65-year old couple today has a 50% chance of living to age 92 and a 25% chance of living to age Taxes The top marginal tax bracket for many retirees in 2011 was 35%, so minimizing tax burden can help stretch savings. DEMOGRAPHIC STATISTICS: Ameriprise Survey 47% of respondents plan to use home equity to help fund their retirement. Boston College Center for Retirement Research 74% of retirees will fall short of their income needs at 62 years old. 47% 74% Pew Research Center Between 2002 and 2011, the percentage of adults that said they will not have enough money to live comfortably in retirement rose from 32% to 53%. Among adults 55 to 64 years old, the percentage who said they were not too confident or not at all confident that they will have enough to live on in retirement rose from 26% in 2009 to 39% in Health Care Approximately 70% of Americans age 65 or older will need some type of long-term care, and the costs are rising faster than inflation. Reverse mortgages aren t just for people struggling to keep their homes. Reverse mortgages can also work for financially comfortable retirees looking for additional retirement security in order to avoid selling other portfolio assets at the wrong time or under duress. 4

5 MEET STEVEN AGE 62 STATUS Retired HOME VALUE $350K (no mortgage) CURRENT PORTFOLIO $600K DESIRED WITHDRAWAL RATE 5% NEEDS PORTFOLIO TO LAST 30+ years DISTRIBUTION GOAL Maintain short-term liquidity and mitigate need to access longterm investment portfolio during bear markets PORTFOLIO SURVIVABILITY 67.5% Steven is a recent retiree who is looking forward to enjoying the fruits of his labor. Steven worked closely with his advisor to grow his nest egg, but his portfolio took a $117,000 hit during the Great Recession, which according to *Ameriprise, is on par with the average amount other Baby Boomer s lost. Thanks to his advisor, he s back on track, but he understands that the loss will impact his quality of life during retirement. Knowing this, Steven wants to have an intelligent plan in place to make sure his money lasts at least 30 years, especially if the market turns volatile again. Applied strategically, a reverse mortgage can significantly increase the probability that Steven s portfolio will last. HERE S HOW Using **Monte Carlo simulations, Steven s current $600,000 portfolio with a 5% withdrawal rate over 30 years only has a 67.5% chance of survival. Making up a $100K+ loss is not an easy feat. By utilizing a reverse mortgage, Steven is able to affordably access his equity to replace his portfolio loss without having to meet stringent qualification criteria. By comparison, if Steven were to leverage his home with a reverse mortgage and only replace the $117,000 loss from the Great Recession, his more robust $717,000 portfolio with a 5% withdrawal rate over 30 years has an 85% chance of survival. That s a 17.5% increase in the chances of portfolio survivability when just considering replacing losses. This is just one of many ways a reverse mortgage can help your client s portfolio provide a sustainable and secure retirement. FIND OUT MORE BY CONTACTING US TODAY. *Source: Retirement Derailers survey released by Ameriprise Financial in February Koski research interviewed 1,000 working Americans ages with at least $100,000 in investable assets. **Monte Carlo simulation method produces a range of estimated portfolio outcomes an investor may experience over a designated period. Monte Carlo is not offered as a tool for forecasting market performance or determining a sustainable withdrawal rate during retirement. It does not reflect historical returns of any portfolio mix or asset class, and should not serve as a guide or substitute for ongoing management of wealth during retirement. 5

6 MEET BARBARA AGE 62 STATUS Retired HOME VALUE $500K (no mortgage) CURRENT PORTFOLIO $500K PENSION None Barbara is a recent retiree who is trying to decide the proper time to take her Social Security benefits. Based on her goals, her projected living expenses are $60,000 per year. If she pulls that much from her current investment portfolio year after year, she ll deplete her funds well short of her goal to make it last 30 years and she doesn t have a pension to help make up the difference. Barbara believes that drawing upon Social Security is her only option. After meeting with her advisor, she learns that in order to make the most of Social Security benefits, she should wait until age 70 in order to collect the highest amount. By utilizing a reverse mortgage to supplement her retirement income during the eight-year deferral period, Barbara can ensure that she receives maximum benefits without having to drain her investment portfolio to reach her goals. Scenario 1 and 2 Client Portfolio Input Parameters: The initial value of the retiree s account --60/40 securities portfolio Equities 60% Fixed Income 40% Calculations of investment gain/loss and of retirement income withdrawal are performed each year in a 30-year period. Identical variables in all simulations: Initial withdrawal rate Investment performance (average investment return based on data from ) Rate of inflation Amount drawn by the retiree Differing variables in all simulations: Sequence of investment returns (randomly selected) Strategies used to determine whether retirement income is withdrawn from the account and/or the reverse mortgage credit line In the course of the calculations, the cash flow either survived 30 years or it did not (the two most significant determinants of cash flow survival are the initial withdrawal rate and whether the higher investment earning years occur early or late in the 30-year sequence). 6

7 Ways to use a REVERSE MORTGAGE The Journal of Financial Planning has outlined various strategies to effectively use a reverse mortgage to help retirement funds survive: PASSIVE STRATEGY Reverse-Mortgage-Last Strategy A reverse mortgage is established when the client is in financial trouble. This usually means that the portfolio funds have been depleted, high-value assets have been sold to make ends meet, and leveraging the home equity is the last remaining option. ACTIVE STRATEGY Reverse-Mortgage-First Strategy A reverse mortgage is established at the outset of retirement and drawn upon every year to provide retirement income until exhausted, allowing the client s portfolio more time to grow. Subsequent withdrawals are then made from the portfolio. Coordinated Strategy A reverse mortgage is established at the outset of retirement but only drawn upon if the portfolio under performs. The need to use the reverse mortgage funds is determined yearly based upon investment performance, which spares the portfolio any drain when it is down, giving it a better chance to recover. Using these active strategies, the cash reserves are made available up front and incorporated into a plan, giving your portfolio the maximum amount of time to grow and the best possible chance of survival. You can still live in your home without making monthly mortgage payments, feel confident about being financially prepared for emergencies, and maintain your desired quality of life. Simple and effective. CALL US TODAY TO LEARN HOW A REVERSE MORTGAGE CAN PROVIDE REAL RETIREMENT SECURITY FOR YOUR CLIENTS. Reverse mortgages do have a place in mainstream retirement distribution planning, and have a significant impact on the probability that some clients will be able to meet their predetermined retirement goals. The Journal of Financial Planning, Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions by John Salter, Ph.D., CFP, AIFA; Shaun Pfeiffer; and Harold Evensky, CFP, AIF 7

8 SPRINGWATER C APITAL FIND OUT HOW A REVERSE MORTGAGE CAN PROVIDE YOUR CLIENT WITH A MORE SECURE RETIREMENT TODAY. CALL US FOR MORE INFORMATION springwaterc.com

Increasing the Sustainable Withdrawal Rate using the Standby Reverse Mortgage

Increasing the Sustainable Withdrawal Rate using the Standby Reverse Mortgage Increasing the Sustainable Withdrawal Rate using the Standby Reverse Mortgage John Salter, PhD, CFP, AIFA Associate Professor, Texas Tech University Vice-President, Wealth Manager, Evensky & Katz Wealth

More information

A Smart Choice Learn How The New Reverse Mortgage May Fit Into Your Retirement Plan.

A Smart Choice Learn How The New Reverse Mortgage May Fit Into Your Retirement Plan. A Smart Choice Learn How The New Reverse Mortgage May Fit Into Your Retirement Plan. Retire With Confidence For years you ve planned for your retirement. Along the way, you ve made lots of smart decisions,

More information

Is there a role for Reverse Mortgages in financial planning?

Is there a role for Reverse Mortgages in financial planning? Is there a role for Reverse Mortgages in financial planning? John Salter, PhD, CFP, AIFA Associate Professor of Personal Financial Planning, Texas Tech University Vice-President, Wealth Manager, Evensky

More information

The New Tool For Retirement Income Planning. Presented by: Becky Bell, Regional VP, Mortgage Banking

The New Tool For Retirement Income Planning. Presented by: Becky Bell, Regional VP, Mortgage Banking The New Tool For Retirement Income Planning Presented by: Becky Bell, Regional VP, Mortgage Banking Why Consider a Reverse Mortgage? Allows Clients to Take a Dormant Asset (Home Equity) and Put it to Work

More information

Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions

Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions John Salter, PhD, CFP, AIFA Associate Professor, Texas Tech University Vice-President, Wealth Manager, Evensky & Katz Wealth

More information

Reverse Mortgages in Retirement Income Planning

Reverse Mortgages in Retirement Income Planning Reverse Mortgages in Retirement Income Planning John Salter, PhD, CFP, AIFA Associate Professor of Personal Financial Planning, Texas Tech University Wealth Manager, Partner, Evensky & Katz/Foldes Financial

More information

2. Line of Credit: Borrowers have the option of setting up a line of credit (a cash account ) and drawing funds whenever they wish.

2. Line of Credit: Borrowers have the option of setting up a line of credit (a cash account ) and drawing funds whenever they wish. Reverse Mortgage Prosperity The Power of the Reverse Mortgage By: Andreas Keller Published: 2014 As baby boomers face retirement, television ads are becoming daily reminders that equity in our homes is

More information

1-800-555-5555. 800-818-2946 www.com

1-800-555-5555. 800-818-2946 www.com Call our our Senior Senior Helpline Call Helplinetoday: today: 1-800-555-5555 800-818-2946 www.com Advisor: Stuart Hindemit Please consult with your tax advisor. Borrower must continue to pay for property

More information

New Smart. Learn how it can help you take advantage of the existing equity in your home, and live the life you ve earned.

New Smart. Learn how it can help you take advantage of the existing equity in your home, and live the life you ve earned. New Smart Learn how it can help you take advantage of the existing equity in your home, and live the life you ve earned. NewReverseMortgage.org Accessing home equity will become increasingly important

More information

Delay Social Security: Funding the Income Gap with a Reverse Mortgage

Delay Social Security: Funding the Income Gap with a Reverse Mortgage Thomas C. B. Davison, MA, PhD, CFP NAPFA Registered Financial Advisor Partner Emeritus, Summit Financial Strategies, Inc. toolsforretirementplanning.com tcbdavison@gmail.com Update: June 22, 2014 slightly

More information

PERFECT STORM STATISTICS

PERFECT STORM STATISTICS FPA Symposium ABOUT US At Fairway, customer service is a way of life. Fairway is dedicated to finding the best rates for customers and also offers some of the fastest turn times in the industry. The goal

More information

Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions

Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions by John Salter, Ph.D., CFP, AIFA ; Shaun Pfeiffer; and Harold Evensky, CFP, AIF Executive Summary Our study considers using

More information

PERFECT STORM STATISTICS

PERFECT STORM STATISTICS NAIFA CE ABOUT US At Fairway, customer service is a way of life. Fairway is dedicated to finding the best rates for customers and also offers some of the fastest turn times in the industry. The goal is

More information

Understanding Home Equity Conversion Mortgages

Understanding Home Equity Conversion Mortgages Understanding Home Equity Conversion Mortgages Discover how to Unlock the Equity in your Home Reverse Lending Experts What Are Your Financial Goals? Are you on track to meet your retirement needs and satisfy

More information

History, Facts and Uses of Reverse Mortgages For: Columbus FPA

History, Facts and Uses of Reverse Mortgages For: Columbus FPA History, Facts and Uses of Reverse Mortgages For: Columbus FPA June 14, 2016 Tom Dickson Financial Advisor Channel Leader P: (412) 441-1272 E: tdickson@reversefunding.com For Copy of Slides & Research

More information

The Boomer Effect. What Advisors Need to Know about the $18 Trillion Wealth Transfer

The Boomer Effect. What Advisors Need to Know about the $18 Trillion Wealth Transfer The Boomer Effect the $18 Trillion Wealth Transfer 01 Over the next eight years, more than $18 trillion of wealth 1 is projected to transfer from baby boomers to their adult children, according to a 2012

More information

The 5 Facts You Need to Know about FHA-insured Reverse Mortgages aka HECMs

The 5 Facts You Need to Know about FHA-insured Reverse Mortgages aka HECMs The 5 Facts You Need to Know about FHA-insured Reverse Mortgages aka HECMs Paul Pomeroy 503 421 0798 Email: paul.pomero@reversefunding.com 1 A HECM by any other name 99% of Reverse Mortgages are... Home

More information

New Research: Reverse Mortgages, SPIAs and Retirement Income

New Research: Reverse Mortgages, SPIAs and Retirement Income New Research: Reverse Mortgages, SPIAs and Retirement Income April 14, 2015 by Joe Tomlinson Retirees need longevity protection and additional funds. Annuities and reverse mortgages can meet those needs.

More information

January 28, 2015 Kauffman Conference Center

January 28, 2015 Kauffman Conference Center January 28, 2015 Kauffman Conference Center Changing Housing Needs for Older Adults Reverse Mortgages: Opportunities and Challenges Pete Mendenhall, CRMP, CAPS North American Savings Bank Understanding

More information

Background On Reverse Mortgages

Background On Reverse Mortgages Taking A Fresh Look At Reverse Mortgages Webinar Kitces.com Michael E. Kitces MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL Partner. Director of Research, Pinnacle Advisory Group Publisher. The Kitces Report,

More information

Planning Retirement in a Rising Tax Environment

Planning Retirement in a Rising Tax Environment Planning Retirement in a Rising Tax Environment (Based on the published article written in the 2014 semi-annual edition of Wealth Channel Magazine) By Francis J. Lojewski, MSFS, ChFC, CLU, LUTCF, AEP One-sentence

More information

10/22/2014. Securing Retirement with Home Equity Conversion Mortgages. Retirement Planning Using Home Equity. What is a HECM?

10/22/2014. Securing Retirement with Home Equity Conversion Mortgages. Retirement Planning Using Home Equity. What is a HECM? Securing Retirement with Home Equity Conversion Mortgages 2013 Liberty Home Equity Solutions, Inc. All rights reserved For business professional use only. Not intended for distribution to the public..

More information

New Research: Reverse Mortgages, SPIAs and Retirement Income

New Research: Reverse Mortgages, SPIAs and Retirement Income New Research: Reverse Mortgages, SPIAs and Retirement Income April 14, 2015 by Joe Tomlinson Retirees need longevity protection and additional funds. Annuities and reverse mortgages can meet those needs.

More information

December 2014. Tax-Efficient Investing Through Asset Location. John Wyckoff, CPA/PFS, CFP

December 2014. Tax-Efficient Investing Through Asset Location. John Wyckoff, CPA/PFS, CFP John Wyckoff, CPA/PFS, CFP Your investment priorities are likely to evolve over time, but one goal will remain constant: to maximize your investment returns. Not all returns are created equal, however.

More information

How HECMs Work. Prepared by Genworth. Reverse Mortgages: A Financial Planning Tool

How HECMs Work. Prepared by Genworth. Reverse Mortgages: A Financial Planning Tool How HECMs Work Prepared by Genworth Reverse Mortgages: A Financial Planning Tool What is a HECM? A Home Equity Conversion Mortgage (HECM) is a FHA-insured non-recourse loan that allows homeowners, age

More information

checklist for 2012 INSIDE this issue THE REVERSE review march 2012 The truth about reverse mortgages and how they can help Secure retirement

checklist for 2012 INSIDE this issue THE REVERSE review march 2012 The truth about reverse mortgages and how they can help Secure retirement the reverse review the reverse review NAVIGATING CHANGES FROM CORDRAY S CAMP PG. 17 THE INDUSTRY WITHOUT WELLS fargo AND Bank of america PG. 28 + GREGG SMITH SITS DOWN IN OUR HOT SEAT! Building your checklist

More information

Nationwide Mortgage Licensing System #222955

Nationwide Mortgage Licensing System #222955 Nationwide Mortgage Licensing System #222955 Senior Concerns Is your mortgage paid off? Is your Social Security and/or pension sufficient? Rising costs of living: gas, health care, food, utilities, medications,

More information

Enhance Your Financial Security. With a Home Equity Conversion Mortgage

Enhance Your Financial Security. With a Home Equity Conversion Mortgage Enhance Your Financial Security With a Home Equity Conversion Mortgage 1 Call for Additional Information 925-258-0386 1 Unlock Your Home s Equity We understand that you want to transition easily into the

More information

Senior Concerns. Will you outlive your money?

Senior Concerns. Will you outlive your money? NMLS #64997 Senior Concerns Is your mortgage paid off? Is your Social Security and/or pension sufficient? Rising costs of living: gas, health care, food, utilities, medications, etc. Fixed income with

More information

Beyond Savings: Six Alternatives to Financing Your Senior Care & Assisted Living

Beyond Savings: Six Alternatives to Financing Your Senior Care & Assisted Living Beyond Savings: Six Alternatives to Financing Your Senior Care & Assisted Living About SeniorAdvisor.com SeniorAdvisor.com is the leading site that provides easy access to the information families need

More information

for INCOME IN USING YOUR HOUSE RETIREMENT A retirement PLANNING GUIDE

for INCOME IN USING YOUR HOUSE RETIREMENT A retirement PLANNING GUIDE A retirement PLANNING GUIDE USING YOUR HOUSE for INCOME IN RETIREMENT It s something Americans increasingly need to consider. And increasingly need to do. A retirement PLANNING GUIDE By Steven Sass, Alicia

More information

Understanding Home Equity Conversion Mortgages

Understanding Home Equity Conversion Mortgages Understanding Home Equity Conversion Mortgages Discover how to Unlock the Equity in your Home Stephen Gargano Manager NMLS # 64495 Reverse Mortgage Dept SEFCU MORTGAGE SERVICES 1131 Rte 55, Suite 4 Lagrangeville,

More information

The 6.0 Percent Rule. Executive Summary

The 6.0 Percent Rule. Executive Summary The 6.0 Percent Rule by Gerald C. Wagner, Ph.D. Executive Summary The 4 percent rule has come under scrutiny because of lower expectations about future security returns. Monte Carlo simulations using expected

More information

This strategy gives a person the ability to take advantage of the tax-sheltering ability of a life insurance policy.

This strategy gives a person the ability to take advantage of the tax-sheltering ability of a life insurance policy. Insuring the Future In this Newsletter: Supplementing Retirement Income Who should be looking at this strategy? The Registered Savings Problem John Jordan, CFP CERTIFIED FINANCIAL PLANNER Phone: (519)

More information

Professor Jamie Hopkins Co-Director of The American College New York Life Center for Retirement Income

Professor Jamie Hopkins Co-Director of The American College New York Life Center for Retirement Income Professor Jamie Hopkins Co-Director of The American College New York Life Center for Retirement Income Home Equity As A Retirement Income Source Webcast Overview The American College of Financial Services

More information

Enhance Your Financial Security

Enhance Your Financial Security Enhance Your Financial Security With a Home Equity Conversion Mortgage Many homeowners across the nation have chosen a Home Equity Conversion Mortgage (HECM) to help them meet financial and personal goals.

More information

Converting Home Equity into Income: A Reverse Mortgage Review

Converting Home Equity into Income: A Reverse Mortgage Review Converting Home Equity into Income: A Reverse Mortgage Review Are you interested in the possibility of converting equity in your home into cash without having to move or assume debt that has to be currently

More information

Reverse Mortgage Guide

Reverse Mortgage Guide Reverse Mortgage Guide Reverse Mortgage Answers, LLC Find out why 25 years of experience makes a difference (800) 420-5515 www.rmanswers.com What is a Reverse Mortgage and How does it Work? A Reverse Mortgage

More information

Managing Home Equity to Build Wealth By Ray Meadows CPA, CFA, MBA

Managing Home Equity to Build Wealth By Ray Meadows CPA, CFA, MBA Managing Home Equity to Build Wealth By Ray Meadows CPA, CFA, MBA About the Author Ray Meadows is the president of Berkeley Investment Advisors, a real estate brokerage and investment advisory firm. He

More information

Incorporating Home Equity into a Retirement Income Strategy

Incorporating Home Equity into a Retirement Income Strategy Incorporating Home Equity into a Retirement Income Strategy by Wade D. Pfau Professor of Retirement Income at The American College Director of Retirement Research, McLean Asset Management www.retirementresearcher.com

More information

Delayed Income Annuities / Longevity Insurance. Presented By: Scott White, AAPA, ALMI Annuity Marketing Manager

Delayed Income Annuities / Longevity Insurance. Presented By: Scott White, AAPA, ALMI Annuity Marketing Manager Delayed Income Annuities / Longevity Insurance Presented By: Scott White, AAPA, ALMI Annuity Marketing Manager CPS Overview Founded in 1974 The Largest Independently-Owned Wholesaler of Life, Long Term

More information

Secure your financial future with a Reverse Mortgage today!

Secure your financial future with a Reverse Mortgage today! Secure your financial future with a Reverse Mortgage today! 1 What Are Your Retirement Goals? Are you on track to meet your needs and satisfy your wants, now and in the future? Pay off your existing mortgage*

More information

The 6% Rule. by Gerald C. Wagner, Ph.D.

The 6% Rule. by Gerald C. Wagner, Ph.D. The 6% Rule by Gerald C. Wagner, Ph.D. Gerald Wagner is President of Ibis Software, which specializes in reverse mortgages, and has been described by Ken Scholen, of the AARP, as the sharpest analytical

More information

Reverse Mortgage Opportunities

Reverse Mortgage Opportunities Reverse Mortgage Opportunities MODERATOR Michael Zmistowski Chairman Financial Planning Association of Florida PANELISTS Sherry Apanay Chief Sales Officer Urban Financial of America, LLC Colin Cushman

More information

Converting Home Equity into Income: AReverseMortgageReview

Converting Home Equity into Income: AReverseMortgageReview Converting Home Equity into Income: AReverseMortgageReview Are you interested in the possibility of converting equity in your home into cash without having to move or assume debt that has to be currently

More information

Retirement: Get Ready...1 Why planning makes sense...1 Where are you?...2 Getting Started: 20 s and early 30 s...3

Retirement: Get Ready...1 Why planning makes sense...1 Where are you?...2 Getting Started: 20 s and early 30 s...3 Retirement: Get Ready...1 Why planning makes sense...1 Where are you?...2 Getting Started: 20 s and early 30 s...3 On Your Way: Mid-30 s to early 40 s...4 Crunch Time: Mid-40 s to early 50 s...5 Just Around

More information

Secure your financial future with a Reverse Mortgage today!

Secure your financial future with a Reverse Mortgage today! Steve Rivas President Call me with any questions always here to help. (888) 944-6262 steve@wphomeloans.com www.wphomeloans.com Secure your financial future with a Reverse Mortgage today! 1 What Are Your

More information

Susan & David Example

Susan & David Example Personal Retirement Analysis for Susan & David Example Asset Advisors Example, LLC A Registered Investment Advisor 2430 NW Professional Drive Corvallis, OR 97330 877-421-9815 www.moneytree.com IMPORTANT:

More information

The Basics of Annuities: Planning for Income Needs

The Basics of Annuities: Planning for Income Needs March 2013 The Basics of Annuities: Planning for Income Needs summary the facts of retirement Earning income once your paychecks stop that is, after your retirement requires preparing for what s to come

More information

Increasing the Sustainable Withdrawal Rate Using the Standby Reverse Morgage

Increasing the Sustainable Withdrawal Rate Using the Standby Reverse Morgage Increasing the Sustainable Withdrawal Rate Using the Standby Reverse Morgage by Shaun Pfeiffer, Ph.D.; John Salter, Ph.D., CFP, AIFA ; and Harold Evensky, CFP, AIF Executive Summary This study investigates

More information

The Basics of Annuities: Income Beyond the Paycheck

The Basics of Annuities: Income Beyond the Paycheck The Basics of Annuities: PLANNING FOR INCOME NEEDS TABLE OF CONTENTS Income Beyond the Paycheck...1 The Facts of Retirement...2 What Is an Annuity?...2 What Type of Annuity Is Right for Me?...2 Payment

More information

U.S. Government Guaranteed HECM Reverse Mortgage Information Guide

U.S. Government Guaranteed HECM Reverse Mortgage Information Guide To learn more please call our Reverse Mortgage Department at 302-283-4687 or toll free at 1-888-WSFSBANK (1-888-973-7226), or visit www.wsfsbank.com/reversemortgages. U.S. Government Guaranteed HECM Reverse

More information

2009 Morgan Stanley Smith Barney LLC. Member SIPC.

2009 Morgan Stanley Smith Barney LLC. Member SIPC. Preparing for Retirement: What You Need to Know 2009 Morgan Stanley Smith Barney LLC. Member SIPC. Preparing for Retirement Envision the Next Chapter Understand the Risks Develop a Plan 2 Envisioning the

More information

Northwestern Mutual Retirement Strategy. Retirement Income Planning with Confidence

Northwestern Mutual Retirement Strategy. Retirement Income Planning with Confidence Northwestern Mutual Retirement Strategy Retirement Income Planning with Confidence Over the past decade, the conventional approach to retirement planning has shifted. Retirement planning used to focus

More information

Resource Guide. Creating a plan for lifetime income in retirement

Resource Guide. Creating a plan for lifetime income in retirement Resource Guide Creating a plan for lifetime income in retirement Freedom in retirement starts with income in retirement When it comes to planning for your future, nothing should be left to chance. That

More information

Enhance Your Financial Security. With a Home Equity Conversion Mortgage

Enhance Your Financial Security. With a Home Equity Conversion Mortgage Enhance Your Financial Security With a Home Equity Conversion Mortgage 1 Call for Additional Information 888.732.1005 1 Unlock Your Home s Equity We understand that you want to transition easily into the

More information

Design your own retirement

Design your own retirement Design your own retirement Lincoln Deferred Income Solutions SM Annuity Products issued by: The Lincoln National Life Insurance Company Not a deposit Not FDIC-insured May go down in value Not insured by

More information

Just the FAQs: Answers to Common Questions About Reverse Mortgages. From the National Reverse Mortgage Lenders Association

Just the FAQs: Answers to Common Questions About Reverse Mortgages. From the National Reverse Mortgage Lenders Association Just the FAQs: Answers to Common Questions About Reverse Mortgages From the National Reverse Mortgage Lenders Association Published by THE NATIONAL REVERSE MORTGAGE LENDERS ASSOCIATION The National Reverse

More information

Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income

Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income by Barry H. Sacks, J.D., Ph.D., and Stephen R. Sacks, Ph.D. Barry H. Sacks, J.D., Ph.D., is a practicing tax attorney

More information

Complete Guide to Reverse Mortgages

Complete Guide to Reverse Mortgages Complete Guide to Reverse Mortgages Contents I. What Is a Reverse Mortgage? 2 Reasons for taking out a reverse mortgage 2 Differences between reverse and traditional mortgages 2 II. Where to Get Reverse

More information

Annuity Product Overview. September 23, 2004

Annuity Product Overview. September 23, 2004 Annuity Product Overview September 23, 2004 U.S. Annuity Product Development Strategy What is an annuity? Annuity is a long-term investment designed for retirement. Annuity is appealing to investors because

More information

MAKE A SMART DECISION:

MAKE A SMART DECISION: MAKE A SMART DECISION: Help your clients better prepare for the future A discussion with Harold Evensky on managing retirement assets By James Carney Did you know that 10,000 Baby Boomers turn 65 every

More information

USA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist

USA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist Learn the Facts about Reverse Mortgages Danny Glover - Human Rights Activist Single-purpose Reverse Mortgages Single-purpose reverse mortgages are the least expensive option. They re offered by some state

More information

Understanding annuities

Understanding annuities ab Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Protecting your retirement income security from life s uncertainties. The retirement landscape

More information

Retirement Planning Workshop

Retirement Planning Workshop Retirement Planning Workshop Agenda What is Retirement Planning? Why Plan for Retirement? 5 Key Risks to secure income Goal Setting Retirement Income Considerations Asset Accumulation Considerations Tom

More information

SOCIAL SECURITY WON T BE ENOUGH:

SOCIAL SECURITY WON T BE ENOUGH: SOCIAL SECURITY WON T BE ENOUGH: 6 REASONS TO CONSIDER AN INCOME ANNUITY How long before you retire? For some of us it s 20 to 30 years away, and for others it s closer to 5 or 0 years. The key here is

More information

THE FHA REVERSE MORTGAGE PROGRAM:

THE FHA REVERSE MORTGAGE PROGRAM: THE FHA REVERSE MORTGAGE PROGRAM: HELPING TEXAS SENIORS FINANCE RETIREMENT WITH THEIR OWN RESOURCES By: W. Scott Norman NMLS #543236 Sente Reverse Mortgage 901 S. MoPac, Building 4, Suite 125 Austin, Texas

More information

Taxes and Transitions

Taxes and Transitions Taxes and Transitions THE NEW FRONTIER FOR RETIREMENT PLANNING Wealthy individuals have been hit with their first major tax increase in more than 20 years, with tax hikes on ordinary income, dividends

More information

Understanding annuities

Understanding annuities Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Helping to protect your retirement income security from life s uncertainties. The retirement

More information

7 Reasons Why Property

7 Reasons Why Property 7 Reasons Why Property Investment can t be ignored. Know your options before it s too late. What is in this report? This report is a must read for anyone looking to improve their lifestyle and enjoy greater

More information

Making Retirement Assets Last a Lifetime PART 1

Making Retirement Assets Last a Lifetime PART 1 Making Retirement Assets Last a Lifetime PART 1 The importance of a solid exit strategy During the working years, accumulating assets for retirement is one of the primary goals of the investing population.

More information

Your Reverse Mortgage Guide. Reaping The Rewards Of A Lifetime Investment In Homeownership

Your Reverse Mortgage Guide. Reaping The Rewards Of A Lifetime Investment In Homeownership Your Reverse Mortgage Guide Reaping The Rewards Of A Lifetime Investment In Homeownership Contents Make The Most Of Retirement!...3 Program Overview...3 4 What Is A Reverse Mortgage? Why Get A Reverse

More information

Counseling Kit Overview

Counseling Kit Overview Counseling Kit Overview For More Information: Contact your Reverse Mortgage Advisor This Counseling Kit has been assembled to assist you in preparing for your required HUD counseling session. The Counseling

More information

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities...

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities... An Insider s Guide to Annuities Whatever your picture of retirement, the best way to get there and enjoy it once you ve arrived is with a focused, thoughtful plan. Introduction 2 What is an Annuity?...

More information

Turning Savings Into Retirement Income

Turning Savings Into Retirement Income Turning Savings Into Retirement Income Inside: Determining Your Income Needs Funding Your Goals Monitoring Your Retirement Income Plan For more information on BlackRock retirement income solutions, contact

More information

Total Asset, Life Cycle, Wealth Management

Total Asset, Life Cycle, Wealth Management Total Asset, Life Cycle, Wealth Management Total Asset, Life Cycle, Wealth Management is the management of total financial needs and total financial assets over an individual s lifetime. All financial

More information

Personal retirement account A retirement savings strategy. Show clients a tax-preferred solution to enhance retirement income

Personal retirement account A retirement savings strategy. Show clients a tax-preferred solution to enhance retirement income Personal retirement account A retirement savings strategy using PARTICIPATING life insurance Show clients a tax-preferred solution to enhance retirement income 2 Personal retirement account Here s the

More information

The pension freedoms are one of the

The pension freedoms are one of the PARLIAMENTHILLMONEYTALK The personal finance newsletter for Parliament Hill member organisations published by Lighthouse Financial Advice AUTUMN 2015 How to reduce tax on your pension and other assets

More information

Is a Reverse Mortgage. the right answer for you or a loved one? Get the facts.

Is a Reverse Mortgage. the right answer for you or a loved one? Get the facts. Is a Reverse Mortgage the right answer for you or a loved one? Get the facts. H ome is a special place. Whether it s been in your family for generations or you ve lived there only for a short time, you

More information

MetLife Retirement Income. A Survey of Pre-Retiree Knowledge of Financial Retirement Issues

MetLife Retirement Income. A Survey of Pre-Retiree Knowledge of Financial Retirement Issues MetLife Retirement Income IQ Study A Survey of Pre-Retiree Knowledge of Financial Retirement Issues June, 2008 The MetLife Mature Market Institute Established in 1997, the Mature Market Institute (MMI)

More information

C o n v e r t i n g Y o u r H o m e s E q u i t y i n t o C a s h

C o n v e r t i n g Y o u r H o m e s E q u i t y i n t o C a s h R E V E R S E M O R T G A G E S E R V I C E S C o n v e r t i n g Y o u r H o m e s E q u i t y i n t o C a s h 2010 Wilmington Savings Fund Society, FSB Member FDIC All Rights Reserved 015 6-10 From your

More information

Age difference, when to start Social Security, top retirement questions for couple

Age difference, when to start Social Security, top retirement questions for couple Age difference, when to start Social Security, top retirement questions for couple Money Makeover January 29, 2015 Clarice, 62, and James, 56, have some specific worries for their retirement plan. Because

More information

G U A R A N T E E D I N C O M E S O L U T I O N S NEW YORK LIFE LIFETIME INCOME ANNUITY

G U A R A N T E E D I N C O M E S O L U T I O N S NEW YORK LIFE LIFETIME INCOME ANNUITY G U A R A N T E E D I N C O M E S O L U T I O N S NEW YORK LIFE LIFETIME INCOME ANNUITY NEW YORK LIFE: BUILT FOR TIMES LIKE THESE New York Life Insurance Company, the parent company of New York Life Insurance

More information

Life events that may derail a financial plan

Life events that may derail a financial plan Life events that may derail a financial plan The BMO Institute provides insights and strategies around wealth planning and financial decisions to better prepare you for a confident financial future. bmoharris.com

More information

Reverse Mortgage Information Guide

Reverse Mortgage Information Guide Reverse Mortgage Information Guide Table of Contents FHA Reverse Mortgages 3 Common Misconceptions about Reverse Mortgages 4 How the Program Works 4 Benefits of a HECM loan 4 HECM vs. Traditional Mortgage

More information

Statement of Barbara Stucki, PhD

Statement of Barbara Stucki, PhD Statement of Barbara Stucki, PhD Vice President, Home Equity Initiatives, National Council on Aging House Financial Services Subcommittee on Insurance, Housing and Community Opportunity Hearing on Oversight

More information

Life Insurance as an Asset Class: A Predictable Asset for Unpredictable Times

Life Insurance as an Asset Class: A Predictable Asset for Unpredictable Times Life Insurance as an Asset Class: A Predictable Asset for Unpredictable Times This material is not intended to be used to avoid tax penalties. It was prepared to support the promotion or marketing of the

More information

Purpose Driven Life Insurance

Purpose Driven Life Insurance Purpose Driven Life Insurance American National Insurance Company Galveston, TX Has someone ever called you on the phone and tried to sell you life insurance or another product without knowing anything

More information

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved

More information

_ Retirement. Planning for the Stages of. Getting started Your 20s and early 30s

_ Retirement. Planning for the Stages of. Getting started Your 20s and early 30s Planning for the Stages of _ Retirement _ Retirement is being reinvented. It s no longer our parent s retirement. Social Security alone w o n t see us through retirement, especially for higher income earners.

More information

HECM Reverse Mortgage Counseling: Critical for Consumer Protection

HECM Reverse Mortgage Counseling: Critical for Consumer Protection Improving the lives of older Americans HECM Reverse Mortgage Counseling: Critical for Consumer Protection Barbara R. Stucki, Vice President for Home Equity Initiatives Housing Counseling Intervention:

More information

A Guide to Reverse Mortgages

A Guide to Reverse Mortgages A Guide to Reverse Mortgages You may have heard about reverse mortgages on television or from a friend and are not quite sure what they are, or you may already know what a reverse mortgage is and are not

More information

This presentation is approved for one hour of CE credit for all CFPs. Send your CFP # to : Tabitha.Morris@S1L.com

This presentation is approved for one hour of CE credit for all CFPs. Send your CFP # to : Tabitha.Morris@S1L.com This presentation is approved for one hour of CE credit for all CFPs. CFPs are required to log in to the webinar using the unique link received at the time of registration. CFPs must remain on the webinar

More information

A Guide To Reverse Mortgages

A Guide To Reverse Mortgages A Guide To Reverse Mortgages What is a Reverse Mortgage? A Home Equity Conversion Mortgage (HECM) is a program designed for seniors that is ensured by the Federal Housing Authority (FHA). The program was

More information

Are you satisfied with the progress you ve made toward your retirement?

Are you satisfied with the progress you ve made toward your retirement? Are you satisfied with the progress you ve made toward your retirement? Neither New York Life Insurance Company nor its agents provides tax, legal, or accounting advice. Please consult your own tax, legal,

More information

LHFS Wholesale. HECM for Purchase Training Home Equity Conversion Mortgage. Great Rates. Great Programs. Great Service.

LHFS Wholesale. HECM for Purchase Training Home Equity Conversion Mortgage. Great Rates. Great Programs. Great Service. LHFS Wholesale HECM for Purchase Training Home Equity Conversion Mortgage Great Rates. Great Programs. Great Service. Discover the HECM for Purchase Loan The HECM for Purchase Program is a Federal Housing

More information

Reverse Mortgage Is it right for you?

Reverse Mortgage Is it right for you? Reverse Mortgage Is it right for you? Reverse Mortgages are being hyped as a tremendous tool for retirement income. This type of mortgage uses part of the equity in a home as collateral. A Reverse Mortgage,

More information

PAYING YOURSELF BACK IN RETIREMENT A Guide to Lifetime Income Planning

PAYING YOURSELF BACK IN RETIREMENT A Guide to Lifetime Income Planning PAYING YOURSELF BACK IN RETIREMENT A Guide to Lifetime Income Planning Lifetime Income Planning in a New World of Investing Retirement. It s the ultimate good news/bad news scenario. First, the good news:

More information

Strategies for Turning Retirement Savings Into Retirement Income

Strategies for Turning Retirement Savings Into Retirement Income Private Wealth Management Products & Services Strategies for Turning Retirement Savings Into Retirement Income How to move from accumulating assets to utilizing them Retirement Income Planning is more

More information

Guide to Reverse Mortgages

Guide to Reverse Mortgages Guide to Reverse Mortgages Prepared by Steve Juetten, CFP Juetten Personal Financial Planning, LLC. www.finpath.com 425-373-9393 Disclaimer: the information in this report was prepared from reliable sources;

More information