In this unorthodox retirement book, Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement, Harlan J. Accola is frank about the current state of retirement planning. As baby boomers reach the prime of their lives, they find themselves faced with new challenges. Ten thousand baby boomers retire per day, but there simply is not enough money to go around. If you want to have a fun and prosperous retirement, you are going to have to get creative. This is not your father’s—- or your grandfather’s retirement! Creative doesn’t mean foolish— but it does mean different than what you have been thinking and what you have been told by conventional wisdom. This book is counterintuitive. The advice that Accola offers is guidance gleaned from over twenty years in the industry and collaboration with several financial planning experts and researchers referred to liberally throughout the book. The clear conclusion of the overwhelming evidence in the research shows that most people should get a reverse mortgage as soon as they are eligible at age 62— not 82 or 92 when they run out of money. Accola also understands the psychological barrier that arises when the reader hears the term “reverse mortgage”. He asks, “If what you thought you knew about home equity and reverse mortgages was wrong, when would you want to know?” He warns that the longer it takes you or your family to find the truth, the more dangerous it is. He attests to the stability and efficiency of a reverse mortgage and teaches the reader how to safely and profitably use one of the largest assets you have stored in your net worth— home equity. Accola covers the following in the entertaining Cinderella fairy tale format: The scary landscape ahead for millions of unsuspecting Baby Boomers The basics of creating liquidity from your home equity The psychology behind accepting or rejecting reverse mortgages The importance of planning ahead and buying an umbrella before it starts to rain. Real and immediate action steps that will help you get the most out of your retirement In this easy-to-understand and fun guide, Accola presents step by step how to properly use home equity so you can enjoy the fourth quarter of your life and still leave a planned legacy for the next generation.
I read this book in an afternoon and found the contents to be well-written. The instrument that makes this approach to a reverse mortgage work as a key part of retirement funding is The FHA HECM. Thank you, Mr. Accola for this eye-opening information that I had not have considered. As a baby boomer, I didn’t realize that there might be help available for making our retirement much easier.
This is by far the best book on reverse mortgages ever written. Harlan Accola has a gift of relating to everyone he meets and explains things in such a fashion that it makes sense to everyone. From the Harvard law professor to the truck driver, Harlan has the knack for story-telling, analogies and examples to get his point across in an eloquent and effective manner. He helps you understand how reverse mortgages truly work and why they are “a must” for most every homeowner age 62 or older in this country right now. With over 15 years experience in reverse mortgages and more than 1,000 happy clients who he helped obtain a reverse mortgage, there is no one more qualified to write a book on this subject. Regardless of one’s knowledge level with this loan or academic credentials. Harlan’s passion for seniors and consistent pursuit of excellence towards educating everyone who will take the time to listen to him about the reverse mortgage make him a very unique and successful advocate and educator on this subject.
- This is a book that lifts the dark veil that has hidden the value of the HECM reverse mortgage in an easy to read uncomplicated way. It deals with the misconceptions, confusions and fear that many people have. Harlan makes the case again and again that there is no need to fear and that the HECM is indeed, and will be for a long time to come, the saving grace of retirement in America.
In a no nonsense and sometimes humorous fashion he makes a compelling case that the FHA reverse mortgage is not a loan only for the financially desperate but the wealthy too. If you are a skeptic the author’s assertions are backed up by a plethora of neutral but savvy academics from the financial planning and tax world.
The author points out a looming retirement crisis that is not publicized enough. I sensed a concern for those retirees who are most vulnerable like widows as well those who’s retirements are severely compromised by economic circumstances beyond their control.
This book also elaborates on the really smart ways a HECM can save on taxes, prolong portfolio survival rates, leave a legacy for children and simply live a more prosperous retired life.
After reading I will seriously consider a reverse mortgage.
I think this book does a great job of making a very complicated subject easy to understand. Harlan has a great ability to explain how the reverse mortgage works in a way that even someone with zero knowledge of reverse mortgages can understand. Reverse Mortgages scare people because it is so complicated, but this book breaks it down and removes the shroud of mystery that surrounds this awesome retirement product. I highly recommend anyone who wants to get the most out of their retirement read this book…
everything you need to know about the HECM mortgage and how it can help seniors live a financially stable life. Anyone that wants to know the real story in this industry should pick up a copy!