Tag: Financial Flexibility
Reverse Mortgages: Myths, Facts, and Financial Benefits (Ep. 50)

Reverse Mortgages: Myths, Facts, and Financial Benefits (Ep. 50)

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Is your retirement income plan missing a key component?

In this insightful episode of Maximizing Outcomes®, host Jim McGovern and Don Graves, President of the Housing Wealth Institute, discuss leveraging home equity through reverse mortgages to enhance retirement outcomes. Gain actionable insights, dispel myths, and discover how this financial tool can redefine your retirement strategy.

Key Highlights:

  • Understanding Reverse Mortgages: Learn how they work, dispel myths, and uncover their benefits
  • Professional Insights: Hear Don Graves’ journey from skepticism to advocacy and how home equity can be used strategically
  • Comprehensive Planning: Explore the “true liquidity bucket” concept and smart ways to use all assets for optimal outcomes
  • Strategic Uses: Discover how reverse mortgages can supplement Social Security, delay benefits for higher payouts, and manage tax burdens
  • Key Criteria: Understand the determinants of reverse mortgages: spouse’s age, home value, and interest rates
  • Financial Stability: Learn how a reverse mortgage line of credit offers a reliable buffer during market downturns
  • Debunking Myths: Clarify misconceptions about ownership and debt repayment limits
  • And much more!

 

Connect with McGovern Wealth Group:

 

Connect with Don Graves:

 

About our Guest:

Don Graves, RICP®, CLTC®, CSA® Certified Senior Advisor, is the President and Founder of the Housing Wealth Institute, and a leading educator in the field of retirement income planning. He has authored three books and serves as an Instructor of Retirement Income at The American College of Financial Services. Recognized as one of the top retirement income leaders by the American College, Don has contributed to over 20,000 advisor/client engagements, distilling his extensive experience into practical, implementable strategies.

His book, Housing Wealth: 3 Ways the New Reverse Mortgage Is Changing Retirement Income Conversations, reached the Amazon #1 spot for New Releases in Financial Services. Don’s expertise has been featured in Forbes Magazine and PBS-sponsored shows. As a Retirement Income Certified Professional (RICP®), Long Term Care Specialist (CLTC®), and Certified Senior Advisor (CSA®), Don brings a unique perspective on integrating housing wealth into retirement planning. He is also a Business Development Manager at Mutual of Omaha Reverse Mortgage, and his workshops are highly sought after by advisors nationwide.

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The Roth IRA Playbook: From Basic Rules to Advanced Tactics (Ep. 43)

The Roth IRA Playbook: From Basic Rules to Advanced Tactics (Ep. 43)

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What are the real advantages of Roth IRAs for long-term savings?

Are you missing out?

Join host Jim McGovern in the latest episode of Maximizing Outcomes as he dissects the world of Roth IRAs. This episode is packed with useful information, offering unique insights into this essential tool for the potential for tax-free retirement income. Whether you’re among the 32 million Americans already using Roth IRAs or considering it, this episode is crucial for understanding the rules, clarifying misconceptions, and learning lesser-known tactics.

Key Discussion Points:
● Roth IRA Basics: Dive into the unique tax-free withdrawal feature of Roth IRAs, setting them apart from traditional IRAs
● Eligibility and Contributions: Understand the income limits and contribution guidelines, tailored for various income groups
● Strategic Approaches to Roth IRAs: Discover advanced strategies like Backdoor Roth IRAs and Roth Conversion (Side Door) methods for high-income individuals
● Withdrawal Rules and Exceptions: Navigate the complexities of withdrawing from a Roth IRA with a clear, comprehensive guide
● Roth vs. Traditional IRAs: Evaluate both types of IRAs based on individual tax situations and future implications
● Roth IRA Conversions: Gain strategic insights into the timing of conversions, managing tax exposure, and impact on Required Minimum Distributions (RMDs)
● And much more!

Connect with McGovern Wealth Group:
● jmcgovern@mcgovernwealth.com
● info@mcgovernwealth.com
● Schedule A Meeting
● McGovern Wealth Group
● LinkedIn: Jim McGovern
● Facebook: Jim McGovern

Tax laws are subject to change. Earnings can grow tax-free, and qualified withdrawals are tax and penalty-free. Roth IRA withdrawal and penalty rules vary depending on your age, how long you’ve had the account, and other factors.

Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding
your individual situation.

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Mastering Your Money with The Living Balance Sheet® creator Bob Ball – Part 2 (Ep. 41)

Mastering Your Money with The Living Balance Sheet® creator Bob Ball – Part 2 (Ep. 41)

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Are you ready to challenge traditional financial strategies and embrace a groundbreaking approach?

In this compelling second part of the Maximizing Outcomes Podcast series, host Jim McGovern and financial expert Bob Ball dive deeper into the “Living Balance Sheet” concept. They expand on earlier ideas, helping listeners gain a clearer insight into achieving financial balance.

Key Discussion Points:

  • The Living Balance Sheet’s Evolution: From its early days to its current status as a pivotal financial planning tool
  • Advanced Savings and Debt Tactics: A continuation from part one, focusing on refined strategies for a balanced financial future
  • Disciplined Saving’s Impact: Diving into the 80/20 rule, illustrating the supremacy of structured saving over high-risk returns
  • Enhancing Cash Flow and Debt Approaches: Practical advice on elevating savings rates and deploying effective debt strategies
  • Liquidity’s Essential Role: Insights on maintaining a balance between readily accessible and long-term assets
  • Balanced Insurance Strategy: A discussion on aligning asset protection with wealth growth, following up on earlier points
  • And much more!

Resources:

Connect with McGovern Wealth Group:

Connect with Robert Ball:

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