Busting Three Half-Truths About Reverse Mortgages

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

A few years back, I conducted and published research in the Journal of Financial Planning that showed Americans don’t understand reverse mortgages. In fact, respondents scored below 50 percent on a 10-question true-false quiz.

One possible explanation for the poor performance is a lot of misinformation floating about. A recent USA Today article titled “Considering reverse mortgages? Better to reverse course on this risky course” confirms my belief. The article contains many half-truths and misunderstandings and projects a negative connotation of reverse mortgages onto the reader.

It’s a similar uphill battle that annuities have faced – a somewhat complex concept that needs to be carefully reviewed, but it’s attacked and misrepresented in the broader media. As a result, people tend to shun annuities and reverse mortgages in their financial planning.

Full article on Forbes

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

When Financial Advisors Become Philanthropists

Within the next few days, as soon as the weather in Omaha, Neb., clears, an elderly, impoverished, and terminally ill man will experience a hot-air balloon ride for the first — and likely last — time in his life. Footing the bill for this dying wish is financial advisor Ron Cars …

5 Factors to Consider Before Investing in an ETF

There are now over 1,600 exchange-traded products available to investors, and total assets are quickly approaching $2 trillion. Traditionally, the primary way an investor could get access to a diversified portfolio of stocks was through a mutual fund. But today, many of these investment pro …

Your Financial Advisor Disappeared…What Do You Do?

In the last few years, financial advisor Ron Carson has observed prospective clients increasingly asking whether his firm has a succession plan in place. Luckily, he does, and he is happy to describe it to them.

1 2 3 23 24 25 26 27 28

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation

TweetsFollow Us