In this week’s Reverse Focus podcast, Shannon Hicks discusses a recent article from MarketWatch, which suggests that competent financial advisers should be able to assist their clients with an array of investment services—and that includes evaluating the potential use of a reverse mortgage to produce retirement income. Although advisers today have different strategies to help client maximize their savings, they could be “short changing” clients if their focus is too narrow.
Also discussed, pensions have nearly become an endangered species lately for many retirees. In the past, the traditional retirement “stool” was bolstered by Social Security, personal savings and a pension. But as fewer employers today offer pensions to their employees, this critical piece of the retirement puzzle may soon be replaced by reverse mortgages, according to a recent article published by Bankrate.com.
In another podcast story, Hicks discusses a recent RMD article which offered five tips for reverse mortgage professionals to grow their business in 2016. Some insights include looking at new sources for referrals, including relocation companies that work with real estate brokerages, financial planners, and more.
Lastly, the Reverse Focus podcast spotlights a recent proposal from the Department of Housing and Urban Development, which seeks to collect data on Home Equity Conversion Mortgage counseling. By collecting such data on hundreds of individuals and households, HUD intends to determine the quality of HECM counseling sessions as part of its “periodic agency performance reviews.”
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- Great financial planners would consider reverse mortgages
- Can a reverse mortgage replace a pension?
- 5 tips to grow your business this year
- HUD wants to collect HECM counseling data
Listen now. Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editor’s Note: These posts are sponsored by Reverse Focus.
Written by Jason Oliva