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Young at Heart March 2021

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Donald Dimitruk • 831-464-6464 donald@countrysidefinancial.com • www.ReverseMortgageOpportunity.com Registered Financial Consultant® Registered Mortgage Advisor DRE#10902537 NMLS#232493 Professional Mortgage Associates Established in 1978. YOU CAN SHARE THE DREAM Reverse Mortgage Questions answered on the phone FREE • No Obligation • Just Answers Celebrating 42 Years in Business! Are you ready to age in place? Clear explanations of exactly how a Reverse Mortgage can work for you! Call for information and a quote! We are very fortunate to live on the Central Coast of California, some of the most beau- tiful Real Estate in the world. Monterey Bay as a destination and the proximity to Silicon Valley keeps property values high with annual apprecia- tion rate approximate- ly double the national average of 4% to near- ly 8% over a 30-year period. Most home- owners accumulate more wealth through appreciation of their homes than in their retirement plans which makes for interesting opportunities in our retirement years. How to use all that equity to our best advantage becomes an issue and an opportunity. The old way to cap- ture that equity was to sell the big family home, pocket the profit and buy a smaller retirement home. This is called downsizing and still is an option. A Reverse Mortgage al- lows us to have access to about half of that equity without selling or having a mortgage payment at the end of our lives. To be clear, a Reverse Mortgage is usually in the range of 50% loan to value. All of the remaining 50% equi- ty belongs to the home- owner and all future growth in equity belongs to the homeowner as well. Many people think that if you get a Reverse Mortgage, you have given all the equity to the bank and when you die or move out of the home there is nothing left. This is not true! Simply put, if the home goes up in value by $50,000 per year and the cost of the loan expanse is $30,000, then the wealth in equity grows by $20,000 that year and belongs to the home- owner. Over time that relationship can change but it is gradual and the outcome depends on how long the homeowner lives in the home without ever making a payment and what the annual ap- preciation amount and interest rates are. Having your cake and eating it too! You can have access to your equi- ty and receive a monthly income or access to a large credit line and still have plans for legacy for your children. This requires good communi- cation with your reverse mortgage professional and careful design of the program options. Again, because of where we live and how our home values increase, we are most likely to have the best of both worlds and the reason why I have so many happy clients. Leaving a legacy for your children when you die is not the only option for financially helping your children. Depend- ing on circumstances you may gift your chil- dren funds from your credit line now, while they are beginning their families and get to see how that extra money is used to improve their lives or maybe help them buy their own home. Remember the analogy that you get 2 check- books in life for gifting exemptions according to IRS tax rules. One is for annual gifts and that amount currently is $ 15,000 per recipient, per year. The other checkbook is for lifetime giving and that lifetime exemption is currently at $11.58 million! You could conceivably give yourself a month- ly income of an extra $500 per month, have the Reverse Mortgage pay all property tax and insurance for life, again adding to month- ly cash flow, and gift your child $50,000 for a down payment on their first home all from a Reverse Mortgage with no monthly payment for life! Is this different from how you thought a reverse mortgage effects your equity? There are many possibilities for your financial life that a Reverse Mortgage can improve and it all starts with asking the right questions and getting the facts. Donald Dimitruk is a Registered Financial Consultant ® and a Registered Mortgage Advisor and is available for a FREE consultation about how a Reverse Mortgage may benefit you at Countryside Fi- nancial Services. Phone 831.464.6464 What happens to my equity with a reverse mortgage? The Most Misunderstood Issue of a Reverse mortgage! BY Donald Dimitruk, RFC ® RMA Spring Is Coming By Jeannine Ramacho-Talley, Certified Audiologist & Hearing Specialist As Spring 2021 ap- proaches and optimism is in the air, we look forward to reconnect- ing with our friends, coworkers, and fam- ily … in-person. The hope is that we slowly begin to step away from the video meetings and experience real human connections. Whether it's catching up at your local coffee shop, meeting in rooms with groups of people, talking with family members in person, or simply hearing the sounds of spring, don't let hearing loss hold you back. Make sure you are ready and at your best hearing. Steps to con- sider for better hearing health: 1) Schedule your annual hearing check. Just like your eyes, your ears need a regular check. 2) If you have hearing aids, ensure they're working their best. Get them cleaned and ad- justed for any changes in hearing. 3) Brush up on commu- nication skills! I often take the time to remind my patients that the hearing aids are extremely helpful in most cases, but improv- ing your communication skills is helpful, too. I remind them quieter environments are easier to hear in (turn down the TV or turn off the faucet when talking) and face-to-face com- munication is best (turn around and face the other person when talking). Additionally, I remind my patients it's okay to be assertive – remind people that you have difficulty hearing and to get your atten- tion before starting a conversation. Put your annual hear- ing exam on your To Do list!

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