The Life Income Immediate Annuity Puzzle~RESOLVED”
By Daniel J Turner NMLS#1016716 Geneva Financial LLC NMLS#42056; American College RICP Candidate Class of 2020 Copyright 2020 All rights reserved. Use by written authorization only. The quandary is the balance to find consistent monthly income to meet expenses with the concern regarding spending retirement income capital to purchase an income annuity cash…
Read MoreUsing A Family Dynasty 529 Plan For Multi-generational College Planning-
Using A Family Dynasty 529 Plan For Multi-generational College Planning AUGUST 5, 2020 08:37 AM 0 Comments CATEGORY: Estate Planning 2020 Michael Kitces, JEFFREY LEVINE, CPA/PFS, CFP®, CWS®, MSA et al All Rights reserved A A A EXECUTIVE SUMMARY According to the Bureau of Labor Statistics, individuals with 4-year college degrees earn, on average, almost $25,000 more per year than…
Read MoreHow do you make sure clients have a high probability of being ready without making them save 30% of their income each year?
How do you make sure clients have a high probability of being ready without making them save 30% of their income each year? by Daniel Turner NMLS#1016716; Geneva Financial LLC Jun 9, 2020 3:47 PM Copyright 2020 All rights reserved. Use by written authorization only. In my practice, necessarily ALL of my Clients are…
Read MoreBank HELOC’s vs. FHA HECM HELOC’s in Retirement Planning
by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056. Copyright 2020 All rights reserved. Use by written authorization only. On pg 1.10 of the text/outline it is made very clear to us that most Clients have 2:1 home equity to retirement savings. Often, Prudent planning urges us to suggest the Client open credit lines to…
Read MoreCompare/Contrast a bank HELOC with a FHA HECM HELOC
by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 All rights reserved. Use by written authorization only. On pg 1.10 of the American College for Financial Services Retirement Income Certified Professional (RICP) text/outline it is made very clear to us that most Clients have 2:1 home equity to retirement savings. In my…
Read More“Are Reverse Mortgage Fees Really High?”
Are Reverse Mortgage Fees Really High? by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 Daniel J Turner All rights reserved. It is sad that many Planners believe the FHA Reverse with the home equity line of credit (not the virtually useless fixed rate program) has “high fees”; it does not. In…
Read MorePart 4: Using a Reverse Mortgage in Retirement Planning
Copyright 2020 All rights reserved. Use by written authorization only. Check out Part 3: Scenarios for using a Reverse Mortgage Before or After Retirement. Let’s now look into several of the myriad ways to use a reverse in retirement income planning. There are more. YOU will create more. 1. Social Security Income planning: Remember a…
Read MorePart 3: Scenarios, Using a Reverse Mortgage Before or After Retirement
Copyright 2020 All rights reserved. Use by written authorization only. Read Part 2 here: General Illusions of the Reverse HELOC – Disproved In Part 3, I want to show you our lifetime in 2 capacities…Borrowing BEFORE retirement, and borrowing AFTER retirement. During your working years, you have “working era” mortgages. But, at 62? The Client…
Read MorePart 2: Disproving General Illusions About Reverse HELOCs
Copyright 2020 All rights reserved. Use by written authorization only. Read Part 1 here: “How Financial Planners Can Use a Reverse HELOC to Help Their Clients.” Let’s continue on by addressing general illusions that many people about regarding the Reverse HELOC. 1. Loss of home. False. It is a demonstrable FACT you have a substantially higher exposure…
Read MorePart 1: “How Financial Planners Can Use a Reverse HELOC to Help Their Clients”
By Daniel J Turner NMLS#1016716 danturnermortgage.com dturner@Genevafi.com danturner859@gmail.com Copyright 2020 All rights reserved. Use by written authorization only. As we’ve been shown by the “American College of Financial Services”, Retiring Americans have very little actual wealth outside their home equity. This is problematic. On one extreme, they need money for retirement, so they SELL…
Read More
