Uncategorized
Using 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 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 MoreHow do you make sure clients have a high probability of being ready without making them save 30% of their income each year?
by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 All rights reserved. Use by written authorization only. In my practice, necessarily ALL of my Clients are at 60+ and older. Therefore, I discuss early in the interview the fact that using home equity through the FHA HECM HELOC (“Reverse Mortgage”) virtually assures them…
Read More“Retirement Income Armageddon”
by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS# Copyright 2020 All rights reserved. Use by written authorization only. H&HS has announced they anticipate running out of money for retirement checks around 2033, and this will necessitate a significant reduction of income for ALL retirees. The estimated cut in benefits is 25%. SO. We have…
Read More“Escaping Neverland”- How Your Mortgage Destroys Your Wealth Potential
I was planning to name this article “Ground Hog Day”, but figured I could kill two birds with one title and imply the other 😉 But, the point of that title is correct. Each day you waken to the same alarm clock, and the same routine for an eternity without any explanation or reason.…
Read More“What Financial Planners Don’t Know”
A little “inside baseball” for you… Yes, this is directed to those of you who have worked EXTREMELY HARD, and LONG, and achieved a level of credentials that would take the remainder of my life to achieve; My hat is off to you, and I deeply regard your professional commitment to your Clients through your…
Read More
