by Mark Stephen Richards
Retirement Mortgage Specialist
Help Your Retirement Bloom Using Home Equity. Intelligently using Home Equity can make all the difference to the quality of your retirement.
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Help Your Retirement Bloom Using Home Equity
Intelligently using Home Equity can make all the difference to the quality of your retirement.
Here is the recording that explains it all:
https://www.youtube.com/watch?v=-4DUrhm6MJ0
Could Skipping Save Your Retirement Portfolio?
Stock markets rise and fall. Many recent reports are warning of an imminent stock market tumble. We are certainly seeing wild volatility these past few weeks with predictions of more to follow. What is there you can do to protect your client’s portfolio in retirement?.
It is now well known in the financial planning world that drawing on a portfolio that suffers down stock markets within 5 years of and the first 5 years of retirement will exhaust funds at such a rate that it will often not recover. Instead, drawing income from non-stock market or buffer assets allows the portfolio to recover before drawing on it. The most commonly used buffer assets are cash and money from cash value life insurance. Unfortunately many people do not have sufficient funds to help avoid this common risk over the course of a retirement.
There is a new strategy being employed by cutting edge advisors. They are putting in a place a Reverse Mortgage loan as close to age 62 as possible and using funds from the line of credit as the buffer asset and to continue the cash flow for their clients without unnecessarily shortening the life of the portfolio.* Two other benefits from using this strategy are:
- Funds from the Reverse Mortgage line of credit come out tax free*, so you will need to draw less than from a standard IRA.
- There is no mandatory payment as a result of that withdrawal as the (HECM) Home Equity Conversion Mortgage, the most popular Reverse Mortgage loan, gives borrowers the option of making principal and interest payments. Homeowners are required to pay all property related charges like property taxes, homeowners insurance, hoa fees etc.
I have attached a graph with a portfolio starting with one million dollars. It illustrates the impact of skipping a withdrawal either 1,2,3 or 4 times over the retirement period from 1966 to 1995. Not employing this strategy leaves the portfolio with $0 by 1995. Skipping the four distributions and drawing from the buffer asset leaves the client with $4 million.
Contact me to discover how skipping might work for you.
*This advertisement does not constitute tax and/or financial advice from Fairway.
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Die Better, Be Remembered Best!
My Great Goodbye joins The Alliance for Senior Services
Death is an inevitable part of life. Yet Shari Haber of My Great Goodbye believes it could be better, if adults — especially Seniors and their Adult Children, or Baby Boomers and beyond, with and without children — would face the reality of their mortality, prepare and plan.
“Advance planning your own death isn’t morbid. It’s sensible, kind and gives you time to make choices that reflect what’s important to you in life and the lasting memory you want to leave,” Haber said. “It affords you more options than may be available when time is tight, and may save you money.”
You’ll also gain peace of mind knowing you’ve taken care of everything for yourself, and spared the bereaved possible stress from not knowing your preferences, “guessing while grieving” and related family conflicts.
And if you’re the designated Funeral Agent or Executor of someone’s estate, their Goodbye Plan can be the roadmap you’ll need to access their key documents, account information and final wishes.
The MGG Death Prep Session includes a Decisions and Documents Audit to help ensure that all your legal, financial, medical affairs — and your digital estate — are in order and recorded. It also can provide you with a curated overview of the many possibilities for a meaningful goodbye, so you can make an informed plan.
MGG is located in Bergen County, but Death Prep and Planning Sessions are available via video call so you can discuss your decisions and Goodbye options from the comfort of your own home.
Contact Shari to book your Session today, before a medical crisis or cognitive decline, and know that you’re good to go when it’s time to go!
Finally, a “better death” is becoming integral to the idea of a “well life.”
— 2019 Wellness Trends, from Global Wellness Summit
House Calls offer safety, comfort and convenience
Years ago, it was easy to find a doctor who made house calls to take care of older, sick and homebound patients. Today, visiting physicians aren’t as common, but they’re not impossible to find.
VNA Health Group’s Visiting Physician Services (VPS) is one of the largest and most experienced house call practices, covering eight New Jersey counties. Its mission is to enable patients to stay at home as they age with an improved quality of life. Now more than ever amid the COVID-19 pandemic, house calls provide a safe and effective way of delivering medical care to those who are most frail and vulnerable.
Alex Binder, vice president, Parker Advanced Care Institute, VNA Health Group
Alex Binder, vice president, Parker Advanced Care Institute, VNA Health Group, recently spoke to NJ Advance Media about the Visiting Physician Services team and the care they provide.
Read the full article here.
VPS featured in Star Ledger
TASS member Visiting Physician Services (VPS) featured in the Star Ledger in late November.
See the piece here: