Doug’s Blog

Thinking of A Reverse Mortgage Loan?  Please Read the Following

Pursuing a Home Equity Conversion Mortgage (HECM, commonly referred to as a reverse mortgage loan) is a big decision. While it allows you to convert your home’s equity into non-taxable cash that you can use to supplement your retirement income, you may be wondering what types of protections are in place for you, the borrower. The great news is that reverse mortgage loans are well-regulated by the federal government and include consumer protections to help put your mind at ease.

Here are six protections that will ...

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How to Defer Capital Gains

How do you defer Capital Gains when selling an asset like real estate or a business?

There is a little-known way to dispose of assets that allows you to maximize your long-term financial advantage…even helping you for retirement.

Here is an example based upon clients of mine:

John and Jane are ~10 years from retirement. Like many of us they neglected to save (liquid assets) enough to get them through retirement. But they had some assets that they could sale to “top off” ...

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Defined Benefit Plan

In one of my quarterly meetings with my tax preparer and consultant John DePasquale – we discussed in detail as to what my options were to have the ability to put more money aside for retirement and potentially get a tax deduction as well.  John came back to me in a few days and said three words that have changed my retirement significantly in that I will be able to retire sooner than originally thought – those words being Defined ...

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Myths About 401(k)s That You Should Not Believe

A great many people wrongly use a 401(k) as their primary mechanism to fund their retirement. They are a convenient tool as contributions are taking from their pay-check, it shields a portion of their income from taxes, and quite possibly their employer is contributing.

But there is a great deal of misguided information out there to confuse you into making some wrong financial decisions concerning your 401(k). Here are 5-common mistakes people make based on misinterpretation of the rules regarding 401(k)’s.

#1 ...

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What Are The Experts Saying About the 2017 Housing Market?

2016 was an unparalleled, somewhat volatile, and for many buyers and sellers an agonizing year. The housing market was not immune to the year’s indiscretions.  At the start of 2016 the experts anticipated a huge increase in the building of new homes but instead builders are still not producing enough homes for the buying public. During this time home prices appreciated beyond any one’s expectations and to the point where large scale price reductions in specific price points had to ...

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An IRA May Be in Your Future!

Americans as a whole, that are not self-employed, rarely invest in an Individual Retirement Account, yet more people are winding up with these tax-sheltered retirement accounts. This is because of rollover IRA’s – those IRA’s funded from other retirement accounts, such as workplace 401(k)s, 403(b)s, etc. are thriving due in employees changing employment with one company to go work for another or people simply retiring.

So even if you have never contributed to an IRA and don’t plan to, there may ...

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Could you retire to another country?

My wife and I were first made aware of the “expat life” when we had a family member move to the Lake Chapala region in Mexico – what is one of the most popular destinations for American and Canadian retirees that have decided that financially they can live a better life somewhere other than the United States.  Our family member(s) have now lived there for over 10+ years and have absolutely no reservations concerning their move there.  They have made ...

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It’s time to review your 2016 IRA contribution limits for 2016

As I have mentioned several times before you should be meeting with and/or at minimum teleconferencing both your accountant and financial advisor prior to the end of each calendar year to strategize about your retirement to make sure that; 1) you are in the right retirement plan and 2) that you have fully funded it – primarily based upon your individual specifics, i.e. workplace retirement plan and AGI/MAGI (Adjusted Gross Income & Modified Gross Income) limits (to be explained later), ...

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Is a reverse mortgage right for you…for retirees worried about running out of money it might be the smart thing to do.

If you are starting to seriously think about retirement, as both my wife Melanie and I are, and meeting with your financial advisor on at minimum a semi-annual basis to fine tune and review your custom-tailored retirement plan, part of that discussion should be the Reverse Mortgage Refinance, if you plan to retire in the home you currently live in or a Reverse Mortgage Purchase, if you plan on selling your existing home and buying a retirement property somewhere.

Reverse Mortgage ...

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