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According to Government records people who took out a reverse mortgage.65 percent lost their house to reposed. It is a LOAN and when the banks wanted their money these people could not pay off their loan. And the bank took possession of their home.
Va money isn't taxed
I didn’t know the profit from the sale of your home you lived in wasn’t taxed. That is good news. Thank you.
neat trick at 1:08!
interesting finger count !
there was a time when SS wasn't taxes, Biden was the deciding vote that ended that.
YOU STILL PAID "TAX" CALLED (GST)-Goods And Services Tax…Out of whatever money you may have received…WHEN YOU ENTERED THE MARKET PLACE OVERTHERE!!.
Good info
Ah, we are only giving tiny scraps now but…BE HAPPY.
Thought that was clever editing in the thumbnail only using the 4 fingers, but then can to realize you only have 4 fingers on that hand! Can confirm Not a click bate thumbnail !
What about CASH. Cash is not taxed.
I have screwed up so badly. Trying to fix it, but I do not know how well it will be.
Don't do REVERSE Mortgage. If your Spouse Moves out or Passes Away REVERSE Mortgage People can and will Sell Your Property Without Telling You. Then you're Left Homeless. Consider seeing a Atty to be Better Informed. There's a Case in Seattle Aera Women's husband is in nursing home. The house was Sold n She's Being EVICTED
Just a short description of an HSA would help.
Selling home in retirement it’s tax free on capital gains!
Reverse mortgage is a joke
Not taxed in retirement: HSA’s
Tax free even if withdrawn.
You have to be super careful with reverse mortgage. My mom got hospitalized, someone (probably someone who wanted to snatch it up) reported it to the bank. She didn’t say anything to us about the letters so the bank took the house back. It was worth 200,000 and she had only taken out 70,000 and still had it in the bank! All we had to do was go to the bank and explain she was going back to the house or pay it off but since she didn’t communicate the notices to us, she lost out. They can be great but you need strategy if you have to leave the house
Thanks !
Nothing new…
I opened an HSA account in 2007 and contributed the maximum each year and never made a withdrawal. Since it was through my employer, the money went in pre-fed, state and Social Security. 401k contributions do not avoid the Social Security tax. I invested the $ well, kept a record of my expenses and will pull tax-free $ out as needed in my eventual retirement. In retirement you can reimburse yourself for Medicare premiums (NOT for Medicare supplement plans) other medical expenses and Long Term Care premiums. No other investment like it – goes in pre-tax, grows un-taxed and comes out tax free.
Frank Reagan from blue bloods don't know his real name
REAL TALK
You lost me with a reverse mortgage. Very expensive money.
More trees than I could burn in ten life times , how's city life ???
MaMa was a prostate ,daddy was a coal miner , first five babies couldn't have been blinder , they were so poor , the company store cut them off , said pay up or trade something off , and turn your head and cough , thank you government !!!! Buy physical silver and gold ,than care less about shit
1) HSA
2) Reverse mortgages
3) Qualified Roth distributions
4) Capital gains forgiven up to $250K
Surprised you did not mention whole life insurance.
What does HSA mean?
All of this information is aimed at homeowners. Do you have similar suggestions for renters?
VA disability
Explain what is a liquid bucket a friend said his mom had one and she got good returns.
that would be tom selleck magnum pi…
CASH IS KING!!!
Great information. Thank you much!
I retired at 55 now I'm 66 & on SS. The key for me was / is lowering my $$ overhead. NJ property tax $8,500.00 FL $900.00 same sq ft 3 bed home.
Remember you most important asset is "your health". I'm on zero meds 140 lbs and fit. I'm living on 10 grand a year and saving $$$. Now I'll watch your presentation in detail.
It's too bad that HSA earnings are taxable for Californians.
These are all good strategies for the right person in the right situation. Nothing wrong with a reverse mortgage if it's your only choice. If you have other options use them but don't make them sound horrible. If you are cash poor and have lots of equity check them out. Not for everyone but are a godsend for some. No I don't make a penny off of the. Just my humble opinion.
Yeah, the IRS is "looking" to rob as much from as many as possible. Let's repeal the 16th amendment.
The US government is ROTTEN, CROOKED, and EVIL.