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For those who choose to “right-size in retirement,” the decision is influenced by many factors; lifestyle, proximity to family and access to quality healthcare.
What’s often overlooked are the choices available at this critical stage for older clients to purchase their next home. Too often, people will pay all cash when that may be the worst financial decision they can make. And many will resort to a conventional mortgage, unaware that they may use a FHA-insured reverse mortgage to pay for part of the purchase price of their next home, which also means they have the flexibility to NOT make mortgage payments.
Join Tom Dickson, Channel Leader at Reverse Mortgage Funding, for a review of the pros and cons of three primary options available to senior clients (62 or older) when they choose to downsize or rightsize (i.e. buy a more expensive home). As part of this review, Tom will provide case studies that outline the impact the three financing options may have on an older client’s retirement security and any tax consequences.
Attendees will learn the following:
- The Pros and Cons of 3 Financing Options Available when Downsizing
- How a HECM Reverse Mortgage may be used when Downsizing
- HECM Options all Clients 62 or Older Should Know About
Tom Dickson
Reverse Mortgage Funding LLC
National Leader of Financial Advisor Channel
[email protected]
412-441-1272
Tom Dickson is the National Leader of the Financial Advisor Channel at Reverse Mortgage Funding LLC (RMF). He directs RMF’s efforts to educate financial advisors on the new case for reverse mortgages and their use in strategy planning in retirement. Mr. Dickson is also responsible for managing RMF’s “Retirement Experts Network,” an online educational platform designed to help financial advisors learn more about important retirement issues. His monthly webinar series has educated over 45,000 advisors nationally on important retirement topics. Prior to joining RMF, Mr. Dickson was part of the MetLife Bank team that secured funding to support the academic research conducted by Harold Evensky and John Salter, which evaluated the use of a reverse mortgage as a strategic planning tool. Before joining MetLife Bank, he led sales for the launch of a financial advisor portal backed by Fidelity, Putnam and Franklin Templeton, which grew to over 120,000 registered users. During his extensive career working with financial advisors, he has held Series 6 and 65 securities licenses, helped launch some of the first online brokers and non-proprietary wrap programs and served as Product Manager for Mellon’s Institutional Custody business. In addition to hosting a variety of professional development presentations by speakers who are experts in their respective fields, RetirementExpertsNetwork.com offers members free access to an array of scholarly and topical resources on important financial subjects including Social Security, reverse mortgages, student financial aid and college planning, Medicare, divorce planning and more. Most webinars will typically offer continuing education (CE) credits to advisors who hold the CFP® designation. Visit RetirementExpertsNetwork.com to learn more about webinars and expert resources.
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