Description
In my normal course of business, I have seen thousands of clients’ portfolios. I see their income, their savings, their home loans and home values. I talk with them about their goals and their dreams. At 58 years old I am a Boomer myself, so I can totally relate to their situations. When I talk to clients who are Baby Boomers, at times I feel like I am talking to myself. I have been down the same roads—I have the same dreams and I have many of the same problems with my own retirement plans that my clients have.
As I analysis and think of all my Boomer clients, I am so sorry to say that my clients have the same as all Baby Boomers. Fifty percent of all my clients between the ages of 55 and 65 do not know how they are going to retire with their current savings and are considering other “Plan B”-type options.
Several years ago I set out to find a solution of how to put these clients back on track with minimal risk and minimal life style change. As a Mortgage Banker and a Real Estate Broker I understand the financial pros and cons of mortgage lending and pros and cons of real estate. I understand and have knowledge of all the different loan options offered by the banking industry.
When I found the solution, I went into test mode. I had many meetings with my support team of; attorneys, financial advisors, and accounts to testing my conclusions.
Fundamentally the solution is very simple. We restructure current non-liquid assets to a liquid asset. We not adding or investing, we are simply restructuring what you already have. And the best part of the restructure it is not adding additional risk.