78% of Seniors Own Homes Outright

78% of Seniors Own Homes Outright, But Some Struggle with Upkeep Financial Planners and some of the financial community have embraced the newer safer Reverse Mortgage because our seniors are living so long, but the retirement account cant keep up. The vast majority — 78% — of homes in the U.S. headed by someone age…

Bad news: Your 401k won’t give you a decent retirement I wont ever forget a man in Huntsville, AL. Most of my clients are military and very smart. He had planned for retirement just as most people did. He came to see me and told me that his 401k was to last him to age…

Merrill Lynch: Financial Planning Can Ease Burden for Widows I had just written a blog about this type occurrence this morning. If a spouse died or goes into a nursing home, it can put a tremendous financial strain on the other spouse. Financial Planners are just catching on that this can supplement income rather than…

I have noticed a tremendous upswing of clients who went to their bank, credit union, or financial planner to ask who does Reverse Mortgages? Usually they find me because a friend was a previous client or the internet. I just simply want the local Birmingham and Huntsville Bank, Credit Union, and Financial Planner to be…

Outliving savings This morning I was listening to a Reverse Mortgage podcast and it really stuck a cord with me; out; outliving savings I think most people ignore the fact they will outlive savings with modern medicine or think something else may help. But if you are like me without a company 401k. You can…

You’re Approaching Retirement and in Debt, Now What? A Study by the Employee Benefit Research Institute indicated that nearly 70% of retirees have debt and nearly 50% of retirees over the age of 75 are still managing debt. by Stuart Welch of Birmingham and Birmingham’s Al.com. Managing cash flow during retirement is tough enough without…

Is Buying Parents house out of a Reverse Mortgage Considered a Transfer for Medicaid Eligibility Purposes? I have seen too many times where parents put their house into the kids name to try to avoid a 5-7 year look back. I found an article on a new spin that I thought i would share with you.…

Financial Columnist Changes Mind on Reverse Mortgages A financial columnist this week detailed the ways in which his opinion has evolved on reverse mortgages, moving from mild distrust to solid acceptance in certain scenarios. Writing for the San Antonio Express-News, columnist Michael Taylor noted that before digging into the products in response to a reader…

Are Reverse Mortgages Unduly Risky? We are seeing more and more financial planners in Alabama accept Reverse Mortgage help a senior have a better lifestyle. My clients now are usually millionaires. One financial planner told me that FINRA said years ago they approve and I have a fiduciary duty to tell my clients about everything…

Signs a Senior Needs Help at Home I have seen the stress working with people to get a Reverse Mortgage to pay for long term care. Now my family is going through it, so this is something that I have unfortunately became an expert in. Admitting the need for help and accepting assistance is not easy…