In a recent article on InvestmentNews.com, Jaime Hopkins, a professor of tax at the American College’s Retirement Certified Professional program writes that,
“Far too many financial advisers overlook home equity as part of a retirement income plan. With heightened regulatory concerns about doing what is in the best interest of the client, it would be prudent to explore and discuss home equity strategies with clients.
Remember, there is no magic home equity strategy that always works best. As an adviser, you need to incorporate home equity solutions into the client’s unique situation.”
He then gives eight strategies a retirement advisers can guide their clients with, including:
- Living in place
- and Home equity conversion mortgage line of credit or a reverse mortgage line of credit.
He further advises that a reverse mortgage needs to be incorporated into a comprehensive income plan.
Contact Mary Jo Lafaye at (415) 259-4979 or firstname.lastname@example.org for more information on how to incorporate reverse mortgage into a retirement income security plan.