Could a Reverse Mortgage Mitigate the Risks of Economic Uncertainty?
Risks that
could impact your retirement. And could
a reverse mortgage be a perfect risk mitigant for these hazards?
There are many
risks that could impact retirement. For
example, the risk of outliving one’s assets, the inflation risk that erodes
buying power, market risk where nest egg values decrease, and liquidity risk
where there is an excess ratio of wealth concentrated in an illiquid,
indivisible asset such as real estate just to name a few.
So, what
exactly is a reverse mortgage? It is an
FHA mortgage that doesn’t have any payment schedule except for the sale of the
home or the death of the borrowers. It
is a way to convert a portion of the home’s value into tax-free cash without
any obligation on the part of the homeowners to ever make a mortgage payment.
There are myths
about reverse mortgages that still abound like the myth that the bank owns or
takes your home or the myth that the wisest strategy is to wait to take out a
reverse mortgage as a last resort.
Retirement research confirms waiting until portfolio depletion to
initiate a reverse mortgage is a dangerous way to rely on home equity. In doing so, you would lose the compounding
growth in the line of credit and/or use too much of your portfolio on fixed
expenses in market downturns.
Who
qualifies?
There are few requirements
for a reverse mortgage. The program was
designed for homeowners aged 62 and over who own and live in the home as their
primary residence. There are also
certain credit and income requirements.
Property taxes and homeowner’s insurance remain the homeowner’s
responsibility.
How much
money could I receive?
The amount of
money you receive depends on your age (or the age of your spouse), the value of
your home, and current interest rates.
What are my
payment options?
Depending on the program you choose, you determine how you receive your money. Your personal plan may include:
David Edel has
been a Reverse Mortgage Loan Officer since 2006. He is employed by Mutual of Omaha. NMLS#
634160. Feel free to contact him at
239-596-4700 for a no cost, no obligation consultation.
Alzheon has reported encouraging results from its Phase 2 trial of ALZ-801, an oral treatment for early Alzheimers disease. The study showed cognitive benefits, a 28% reduction in hippocampal atrophy, and a strong safety profile, particularly for individuals with two copies of the APOE4 gene. With the Phase 3 trial now fully enrolled, topline results are expected in the near future. If successful, ALZ-801 could become the first oral anti-amyloid therapy for high-risk patients. Aqualane is proud to be part of this groundbreaking research and extend our deepest gratitude to all participants whose contributions are shaping the future of Alzheimers treatment.
At The Dubin Center, we often see the strength that blooms when families come together to care for a loved one. One such inspiring duo is Sally and her daughter, Jenna multigenerational caregiving team who have supported each other and grown together through the challenges of dementia caregiving.Sally has been a caregiver for at least four years, navigating the evolving needs of her husband with quiet strength and a fierce commitment to showing up each day. Two years ago, her daughter Jenn moved to Florida to be closerand to help. Since then, the two have become a team, blending perspectives, experiences, and love as they walk the caregiving journey together.When asked what they would say to someone who is unsure about joining a support group or getting involved with The Dubin Center, both women spoke with heartfelt conviction."Definitely come, Sally said. Anyone dealing with this sort of stuff needs support. It saved me.Jenn echoed her mothers words, adding, You are not alone. The support groups can help lift you out of the misery. You can give advice and get advice. Its a safe spaceand comforting knowing others understand.Caregiving across generations isnt always easy, but it opens the door for powerful lessons.When asked what younger and older generations can learn from each other, Sally emphasized patiencenoting that age often brings the ability to let go of the small things and focus on what really matters. Jenn reflected on the importance of respect, independence, and dignity, which shes seen modeled by her mom.So, what advice do they have for other families navigating caregiving across generations?Find support, and dont do it alone, Sally advised. Let your family know whats going on and ask for help when you need it.Jenn added, Being open, honest, patient, and kind are the most important. Dont judge, and find a middle ground to work together.Thank you, Sally and Jenn, for your inspiring words! Whether you have family to lean on or not, their words are a reminder that caregiving doesnt have to be a solitary journey. If you or someone you know is caregiving across generations or by themself, reach out. Whether it's joining a support group or simply asking questions, The Dubin Center is here for you!
As we mark Womens History Month 2025, TravelPulse is once again taking a moment to acknowledge the substantial contributions and innovations of women in the travel industry.Its hardly an overstatement to say that women play a critical role in travel and tourism, both locally and globally.The latest available data from the World Travel & Tourism Council shows that women make up nearly 40 percent of the industry. That translates to about 48 million women working in what is now the worlds ninth largest industry.Among these women are scores of trailblazers, visionaries and fearless go-getters who have set their sights on making a difference for others or for the world (or both) and are doing so in their own unique way. They are entrepreneurs, they are corporate titans, they are passionate environmentalists and they are leaders of some of the travel industrys largest brands, businesses and trade groups.This is TravelPulses fifth annual list of influential women in travel, and each year, it is a privilege reviewing the bold things that women in travel are accomplishing. The 2025 class of influential leaders makes clear that women continue to be a force to be reckoned with, even during this fraught time in our history.Women continue to bring unique approaches to addressing and resolving many of the daunting challenges facing the industry and the world at large, including finding ways to make travel more sustainable, inclusive, accessible, thoughtful, and beneficial for stakeholders at all levels.At TravelPulses request, each of the 20 women being honored this year (who were all nominated by industry peers) shared a few career accomplishments theyre most proud of, as well as thoughts on what motivates them. Their answers are a compelling and inspirational read.Heres a closer look at each of the 2025 winners and the forces that drive them.Kerri Johnson, Founder, GOMO TravelAs the founder of GOMO Travel, Kerri Johnson is transforming the way people with mobility challenges, medical conditions, or other travel limitations experience the world. A medical travel assistance agency, GOMOs medical travel companions ensure that travelers get where they need to go with safety.The assistance of GOMO companions is available whether someone has mobility issues, suffers from anxiety, or requires medical assistance.Johnsons efforts through GOMO prioritize inclusivity, ensuring every traveler no matter their circumstances receives personalized support, from booking accessible accommodations to navigating unexpected disruptions.Q: What motivates you to do what you do each day?I have a nursing background and have always been sensitive to peoples feelings and needs, says Johnson. As I have grown and matured, I have become a staunch advocate for those less fortunate. I start my day with my alarm of Andy Williams song The Impossible Dream.This is a daily reminder to accomplish my goal of alleviating fear, isolationism, andexclusion experienced by many would-be travelers, says Johnson. At GOMO Travel, we strive to make their dreams possible.Q: What are your hopes and goals related to your specific area of work and the impact youd like to have on the travel industry?We feel everyone should be free to travel on their own terms, whatever that individuallymeans for them, says Johnson. Our hope is to normalize assisted travel across the globe so they will know that resources like ours exist. Uber did not happen overnight, and we utilize every day to build our network to achieve our goal of one day becoming the Uber of assisted travel.