Housing considerations for retirees
"I have a client who wants to understand his/her housing options for retirement"...What a planner needs to know to help guide a client about housing choices in retirement.
What are the options available for retirement housing?
An examination of a variety of options available for living in retirement. We learn that whether a client decides to age in place, downsize, or relocate there are a variety of choices that require careful consideration.
Is a continuing care retirement community (CCRC) a viable option for my client?
A discussion of the CCRC option and the financial planning considerations when considering a continuing care retirement community. We learn why clients choose CCRCs the various CCRC models available, and some financial planning strategies involved with the CCRC choice.
How can an advisor help a client through the decision whether to remain in the house and use the home to pay for long term care needs?
We examine the issues that need to be addressed if a client decides to "age in place". We learn that there are a variety of resources that can help a client and planner make the best choice.
What are the requirements for eligibility for a HECM reverse mortgage and how much equity can generally be accessed?
We study the specific rules that apply to HECM reverse mortgages. We gain insight as to whether these loans make sense for our clients.
When does a HECM loan have to be repaid and what are the fees involved?
We look at when home equity loans are repaid, the tax consequences of the strategy, and the fees involved. We learn that there are benefits and limitations to a reverse mortgage as a retirement income strategy.
What are the important considerations for a retired client considering relocation?
We review the financial and tax implications of changing residencies during retirement. We learn that tax consequences can have a significant impact on a retirement budget.
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