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I have a HECM with a credit line of $500M. Can I take the full amount fo the credit line as a lump some?

my husband is going to be 62 in two years, I need to talke to someone about this do you do consultation or do I have to find someone in FL?

Interesting, common sense overview as I'm about to meet with my financial planner and CPA about this topic and how it may fit my plan as I approach 62, especially from the tax planning perspective. Is there such a thing as a HECM scenario calculator/spreadsheet to do some what-if analysis on my own? Thank you both!

What happens if you die without using HECM credit? Could it be used as a kind of savings account that would perform better than a Money Market if you paid something into every month? You set up a HECM line of credit that does not have to be paid back until you die or the house is sold off Can or should you set up a HECM line of credit, just in case you need it? Or do all the HECM fees make it prohibitive?

Great content, thank you!

Wow! A CPA who gets the reverse mortgage and does a good job in explaining it. I do reverse mortgages for a living and this is accurate information. Too many times I see financial pundits, and others who are sharing information on TH-cam that is either outdated or inaccurate on the reverse mortgage and people believe them. A reverse isn't for everyone, but for others it can be a lifesaver. Particularly like the sequence of returns risk aspect you discussed. This is where an affluent individual who may think they don't need a reverse mortgage, can use the line of credit as a bucket of money, not in the market to dip into instead of drawing from a qualified declining asset which by doing that can prematurely exhaust the asset. Great stuff!

Could you please send me your phone number I’d like to talk to you in depth about tax advising and planning my name is Robert I’ll give you the next information when you’re ready

This was a great video. Thank you so much.

What is the impact of having a mix of traditional IRA/401(k) and Roth IRA/401(k) - once there is any amount in traditional, isn't there a drag on withdrawing Roth monies having to proportionately withdraw traditional monies at the same time? What are the rules on that?

Great info!

The cost to obtain the HECM will also be the lowest at age 62 due to the 2% MIP on the value of home that is required to obtain the reverse mortgage.

Food for thought.

Very clear and extremely helpful. Thank you. I did much financial research past two years and the stealth taxes as IRMAA shocked me. Eleven years ago I did a large Roth conversion. My broker who was against this move. Wish I had known you as I would have continued conversions. Now recently retired.

Thank you great information. I am 57 y/o married retired no debt with a pension the city pays for our medicare premiums for husband & wife at 65 y/o. My wife will retire in 2 years at 59 y.o The plan is to build up a cash bucket to pay for yearly Roth conversions in the 12% tax bracket.

I am 63 almost 64 in the mass state employee 457b. No Roth conversion option in the 457b. What should I do retire now? Move out of 457b to ira then Roth IRA.

The Roth 401(k) contribution is something that I started doing once my employer added it to the employee retirement options in 2019. A few things that I have noticed are [1] Post-tax Roth 401(k) contributions are subject to IRS RMD withdrawal requirements (unlike Roth IRAs), though they are post-tax contributions, and are not included as annual income when I withdraw them in retirement. [2] While my employer contributes 1.5% towards my 401(k), they only make pre-tax 401(k) contributions - not Roth post-tax 401(k) contributions. Check what type of contribution your employer makes. [3] In order to avoid RMDs, etc., I can and will do a Roth back door contribution from both pre-tax 401(k) and post-tax Roth 401(k) contributions that I have made at work. I won't have to pay any up-front taxes on the Roth 401(k) to Roth IRA conversions, but for the pre-tax 401(k) conversions, I will need to pay the annual taxes for those Roth IRA back door conversions. [4] I will want to look at how much my annual income and taxes will increase due to any pre-tax 401(k) to Roth IRA conversions made in a given year, so that I don't go into a higher tax bracket for that year. I also need to be aware of any annual changes in tax laws (one is scheduled to come up in 2026). The back door conversion is something to do over a few years, while keeping an eye on annual income levels, and in consultation with a tax accountant. Eliminating 401(k) taxes will lower annual income in retirement, which will lower taxes and Medicare payments.

I actually understood everything he said. This is great.

This information will be very useful.