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Case Study #12 – Sweet Dreams Are Made of These

by | Feb 8, 2019 | Case Studies | 17,524 comments

Case Study #12 – Sweet Dreams Are Made of These

Bob and Gloria worked hard all their lives.

They retired knowing they did their best to do everything the right way. They paid their bills, they did a good job raising the kids, and they were active in the community. They worked hard to put money aside for retirement.

Cash flow was always tight and Bob and Gloria were reluctant to travel on money that they preferred to set aside for retirement. Bob wanted to take that cruise to Alaska and Gloria really wanted to see Paris.

They really did not want to touch the 401k. Although their home was not paid for, they had a lot of equity in it. Selling the home was not an option for them.

Bob and Gloria thought they were stuck.

Oh no they weren’t!

James, their Financial Planner, recommended a Reverse Mortgage using a line of credit to convert only a portion of their equity into cash so they could take the trips of a lifetime.

Results:

1- They took a cruise to Alaska.
2- They took a vacation to Paris.
3- No mortgage payment.
4- They still have lots of equity in their home.

 

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