You Can't Prepare or Can you?

Understanding The Black Swan... Thy Name is Retirement TMS Website I Reverse Website I  About Reverse Mortgages I About Me I  Contact Me     You Can't Prepare or Can you?   Martin Andelman wrote a very thought provoking article discussing retirement and planning. You can read it at the link above, Understanding the Black Swan.... In it he spoke of Nassim Nicholas Taleb's book The Black Swan,  the gist of which is What you do not know, and cannot predict... is what's most likely to hurt you.   This comes home to me as I work with three clients who are 95,98 and 103 years old. All three had made plans for retirement and were all well vested in portfolios, and all three have completely run out of money with pressing needs for healthcare costs. I am very confident that as they worked and planned through their 40s,  50s and 60s they had no idea they would live as long as they have and had no idea of the healthcare costs they'd incur.    They lived under the ideal that home equity was sacred, not to be touched. All three are now tapping into home equity and I am happy a reverse mortgage provides the  funds needed. However, what they all missed out on is the funds that could have been available if they had taken out a Standby Reverse earlier in retirement.     The Standby Reverse is a way to prepare for the unknown. It allows you to establish a line of credit that grows in availability through the years. In fact, if you take out a Standby Reverse early in retirement by the time you reach 80 years old you will have a line of credit larger than the value of the house. (if not utilized) See my video The Standby Reverse. It can be used as a hedge against market volatility as well as self-insurance for long term care needs. See my video Long Term Care    The Standby Reverse can be beneficial to anyone in any economic bracket. The beauty is, if it is not needed, the equity remains in the home. It is an idea that should be looked at by all older adults who own a home. I even have a great plan for those who are still carrying a mortgage.    I love the reverse mortgage and the many possible uses. If you or someone you know might benefit from a reverse give me a call and I would be happy to serve them.           1-800-497-5235       Bob Tranchell Director of Reverse Mortgages   My professional career has always centered on improving the lives of those I come in contact with. I spent 18 years in the ministry-many of them overseas in developing nations, and have been instrumental in building orphanages and programs serving orphans and seniors. I have a passion for my work because I have seen time and time again how home equity management allows my clients the quality of life, security, and stability they deserve.     If you or someone you know wishes to explore reverse mortgage options as a tool for providing financial security, please contact me and we can set up a meeting. It is my pleasure to serve you and those you care about. Sincerely,      Bob Tranchell Director of Reverse Mortgages Senior Mortgage Banker Phone: 800-497-5235| Fax: 508-445-0090 Cell: 508-367-5731 NMLS ID:  286716 The New HECM My Information rtranchell@totalmortgage.com                 CONTACT ME Call me at 1-800-497-5235    e-mail me rtranchell@totalmortgage.com    THENEWHECM.COM THE NEW HECM BLOG    My Articles   Industry Articles   Unique Uses of a Reverse   Reverse Mortgage Introduction    RM FAQs    RM Myths    The Process    The History of Reverse Mortgages                   Disclaimers This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).    FHA insures fixed interest rate Home Equity Conversion Mortgages (HECMs), as well as annual and monthly adjustable interest rate HECMs. The mortgagor has the ability to change the payment plan under the HECM at any time provided funds are available. Fixed interest rate HECMs are limited to the Single Disbursement Lump Sum payment option where there is a single, full draw at loan closing and the mortgage does not provide for future draws by the mortgagor under any circumstances. Adjustable interest rate HECMs provide for five, flexible payment options and allows for future draws. The amount of funds available to the mortgagor is determined by the age of the youngest mortgagor (or non-borrowing spouse for case numbers assigned after August 4, 2014). The disbursement of HECM proceeds during the first 12-month disbursement period is subject to an initial disbursement limit as determined by requirements set by the Secretary.   If the borrower does not meet loan obligations such as taxes and insurance, then the   loan will need to be repaid.   Total Mortgage Services LLC | 800-497-5235 | rtranchell@totalmortgage.com | http://www.thenewhecm.com/ 185 Plains Rd NMLS #2764 Milford, CT 06461   Copyright © 2012. All Rights Reserved.