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Author: Harlan J Accola Publisher: ISBN: 9780692044964 Category : Languages : en Pages : 124
Book Description
In this unorthodox retirement book, Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement, Harlan J. Accola is frank about the current state of retirement planning. As baby boomers reach the prime of their lives, they find themselves faced with new challenges. Ten thousand baby boomers retire per day, but there simply is not enough money to go around. If you want to have a fun and prosperous retirement, you are going to have to get creative. This is not your father's-- or your grandfather's retirement! Creative doesn't mean foolish- but it does mean different than what you have been thinking and what you have been told by conventional wisdom. This book is counterintuitive. The advice that Accola offers is guidance gleaned from over twenty years in the industry and collaboration with several financial planning experts and researchers referred to liberally throughout the book. The clear conclusion of the overwhelming evidence in the research shows that most people should get a reverse mortgage as soon as they are eligible at age 62- not 82 or 92 when they run out of money. Accola also understands the psychological barrier that arises when the reader hears the term "reverse mortgage." He asks, "If what you thought you knew about home equity and reverse mortgages was wrong, when would you want to know?" He warns that the longer it takes you or your family to find the truth, the more dangerous it is. He attests to the stability and efficiency of a reverse mortgage and teaches the reader how to safely and profitably use one of the largest assets you have stored in your net worth- home equity. Accola covers the following in the entertaining Cinderella fairy tale format: The scary landscape ahead for millions of unsuspecting Baby Boomers The basics of creating liquidity from your home equity The psychology behind accepting or rejecting reverse mortgages The importance of planning ahead and buying an umbrella before it starts to rain. Real and immediate action steps that will help you get the most out of your retirement In this easy-to-understand and fun guide, Accola presents step by step how to properly use home equity so you can enjoy the fourth quarter of your life and still leave a planned legacy for the next generation.
Author: Harlan J Accola Publisher: ISBN: 9780692044964 Category : Languages : en Pages : 124
Book Description
In this unorthodox retirement book, Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement, Harlan J. Accola is frank about the current state of retirement planning. As baby boomers reach the prime of their lives, they find themselves faced with new challenges. Ten thousand baby boomers retire per day, but there simply is not enough money to go around. If you want to have a fun and prosperous retirement, you are going to have to get creative. This is not your father's-- or your grandfather's retirement! Creative doesn't mean foolish- but it does mean different than what you have been thinking and what you have been told by conventional wisdom. This book is counterintuitive. The advice that Accola offers is guidance gleaned from over twenty years in the industry and collaboration with several financial planning experts and researchers referred to liberally throughout the book. The clear conclusion of the overwhelming evidence in the research shows that most people should get a reverse mortgage as soon as they are eligible at age 62- not 82 or 92 when they run out of money. Accola also understands the psychological barrier that arises when the reader hears the term "reverse mortgage." He asks, "If what you thought you knew about home equity and reverse mortgages was wrong, when would you want to know?" He warns that the longer it takes you or your family to find the truth, the more dangerous it is. He attests to the stability and efficiency of a reverse mortgage and teaches the reader how to safely and profitably use one of the largest assets you have stored in your net worth- home equity. Accola covers the following in the entertaining Cinderella fairy tale format: The scary landscape ahead for millions of unsuspecting Baby Boomers The basics of creating liquidity from your home equity The psychology behind accepting or rejecting reverse mortgages The importance of planning ahead and buying an umbrella before it starts to rain. Real and immediate action steps that will help you get the most out of your retirement In this easy-to-understand and fun guide, Accola presents step by step how to properly use home equity so you can enjoy the fourth quarter of your life and still leave a planned legacy for the next generation.
Author: Ken Scholen Publisher: N C H E Press ISBN: 9780963011992 Category : Business & Economics Languages : en Pages : 356
Book Description
"Reverse" mortgages turn every home into a new source of RETIREMENT INCOME, without having to sell or make monthly loan payments. This "ideal study book rates a ten"--(SF Examiner) & "guides homeowners through the reverse mortgage maze"--(Minneapolis Star Tribune). It's "an easily understood nuts & bolts guide"--(N.Y. Times) that's "clearly written"--(Library Journal). It compares all the newest varieties of REVERSE MORTGAGES: how much cash you can get, what it really costs, what to look out for. By "The LEADING AUTHORITY on reverse mortgages"--(L.A. Times). Practical STUDY GUIDE for retirees & pre-retirees. Also of interest to attorneys, accountants, financial planners, care managers, senior service providers & adult children of aging parents. A basic reference & directory, with 58 tables, locations, phone numbers. Includes Glossary, Bibliography, Index, Appendixes. Order from: Baker & Taylor, Brodart, The Bookmen, Blackwell, or directly from NCHEC Press, Suite 115, 7373 147th St., W., Apple Valley, MN 55124; Telephone 612-953-4474.
Author: Carrie Schwab-Pomerantz Publisher: Crown Currency ISBN: 0804137374 Category : Business & Economics Languages : en Pages : 434
Book Description
Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.
Author: Wade Donald Pfau Publisher: McLean Asset Management Corporation ISBN: 9781945640049 Category : Finance, Personal Languages : en Pages : 156
Book Description
Reverse mortgages have been surrounded by negativity. They were often mentioned alongside phrases like "last resort," "out of money," and "bad choice." In 2014, intrigued by the seemingly universal bad rap reverse mortgages had cultivated, Dr. Wade Pfau began researching them in depth. Over the course of the next year, he came to the conclusion that reverse mortgages aren't inherently a bad idea, though they are often misunderstood and not used in a most beneficial way. In fact, Dr. Pfau realized that reverse mortgages---when used correctly---can provide an added layer of security for retirees and allow them to enjoy retirement more by gaining liquidity from an illiquid asset. This second edition of the book is fully revised and updated for the modification of reverse mortgage rules affecting applications after October 2, 2017.
Author: Wade D. Pfau Publisher: ISBN: Category : Languages : en Pages : 17
Book Description
Strategic use of a reverse mortgage can improve retirement outcomes. The benefits are non-linear in nature, as they relate to the synergies created by reducing sequence risk for portfolio withdrawals and to the non-recourse aspects of reverse mortgages that can potentially allow a client to spend more than the value of their home. This article explores six different methods for incorporating home equity into a retirement income plan through the use of a reverse mortgage. Generally, strategies which spend the home equity more quickly increase the overall risk for the retirement plan. More upside potential is generated by delaying the need to take distributions from investments, but more downside risk is created because the home equity is used quickly without necessarily being compensated by sufficiently high market returns. Meanwhile, opening the line of credit and that start of retirement and then delaying its use until the portfolio is depleted creates the most downside protection for the retirement income plan. This strategy allows the line of credit to grow longer, perhaps surpassing the home's value before it is used, providing a bigger base to continue retirement spending after the portfolio is depleted. Use of tenure payments or one of the coordinated spending strategies can also be justified as providing a middle ground which balances the upside potential of using home equity first and the downside protection of using home equity last. A key theme is that there is great value for clients to open a reverse mortgage line of credit at the earliest possible age.
Author: Zander Cole Publisher: Independently Published ISBN: Category : Languages : en Pages : 0
Book Description
Unlock Your Home Equity TODAY for the Retirement of Your Dreams! Do you find yourself asking: What if I could tap into my home equity for extra retirement income...rent and mortgage free? How much cash could I get from my house without having to move? Are reverse mortgages as risky as people say or a retirement game-changer? If so, this comprehensive guide is for you! In this Reverse Mortgage Handbook, Zander Cole cuts through the confusion, myths, and jargon to help you determine if converting your home equity into an income stream is the right move. With insider tips and strategies, you'll discover: ✓ The different types of reverse mortgages and how to pick the best one ✓ Creative ways to maximize your lendable home equity ✓ How to qualify and calculate your potential "cash-out" amount ✓ The pros and cons of lump sum payouts vs. monthly income ✓ Ways to involve your heirs and plan your estate ✓ Pitfalls to avoid and scenarios when a reverse mortgage shines ✓ Alternatives beyond traditional reverse mortgages ✓ Pages of Worksheets and calculators ✓ And much, much more! GET YOUR COPY NOW !
Author: Makoto Nakajima Publisher: ISBN: Category : Home equity loans Languages : en Pages : 34
Book Description
The authors study empirically and theoretically the patterns of home equity withdrawal among retirees, using a model in which retirees are able to own or rent a home, save, and borrow against home equity, in the face of idiosyncratic risks concerning mortality, health, medical expenditures, and household size and observed house price changes. The estimated model is found to successfully replicate the patterns of homeownership and the saving/borrowing decisions of retirees. They use the estimated model for several counterfactual experiments. There are three main findings. First, the model predicts that a house price boom suppresses homeownership and increases borrowing, while a decline in house prices has the opposite effect. Second, the costs of home equity borrowing restrict the borrowing of retirees, and thus a reduction of such costs (e.g., lower costs of reverse mortgage loans) might significantly raise home equity borrowing. Third, there are two implications for the retirement saving puzzle. Although the cost of borrowing against equity in the house affects the borrowing of retirees, it does not affect total asset holding, implying that equity borrowing costs do not seem to offer a quantitatively significant contribution to resolving the retirement saving puzzle. On the other hand, the magnitude of the retirement saving puzzle might be exaggerated, because a sizable part of "retirement saving" is due to house price appreciation.
Author: Harlan J Accola
Author: Harlan J Accola
Author: Ken Scholen
Author: Ken Scholen
Author: Andrew James McLean
Author: Carrie Schwab-Pomerantz
Author: Wade Donald Pfau
Author: Wade D. Pfau
Author: Zander Cole
Author: Makoto Nakajima
Author: Mary H. Parker