How to Create Tax-Free Retirement Income Utilizing Housing Wealth
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One of your client’s greatest assets might be more valuable than you think. When discussing retirement and assets, especially with clients nearing retirement, housing is a big topic. Most of us want to age-in-place or convert to a “rightsize” home. And for older clients, housing is generally both their largest asset and their largest expense. A home can also be a tool to generate retirement income. Watch to see how home equity can both lower monthly housing expenses and help create guaranteed tax-free retirement income. We cover:
- How home equity conversion mortgages (HECM) work
- Misconceptions about HECM
- Available income options and consumer safeguards when considering a HECM
- Repayment and estate tax deduction
Housing wealth is another resource for your clients when it comes to planning for a secure retirement. Don’t miss your opportunity to hear from an expert on how a HECM can benefit your client.
Mike McGlothlin, CFP®, CLU®, ChFC®, LUTCF®, NSSA® is a bestselling author, industry-renowned speaker and expert in growth strategies for financial advisors.
Today as the Executive Vice President of Retirement for Ash Brokerage, he leads 65 direct reports who have grown a business line 300% in the last six years and is now one of the largest wholesaling teams in the Brokerage General Agency space.
As a professional guide he can help any financial advisor looking to create exponential revenue growth, to find new clients and better streamline their operations by incorporating his simple methodologies and proven models.
Susan A. Pomfret, RICP® is a Senior VP, HECM Lending Division, at CrossCountry Mortages, LLC. She brings more than 30 years of industry experience to her position, including being one of the first to originate an HEMC as part of the FHA pilot program. Her experience has made her a familiar and respected face in the senior community, and she uses her knowledge to continue to educate others about issues facing seniors today.