Over the last year, tax and financial advisors witnessed a surge in reverse mortgage requests came from an unlikely source, the Sandwich Generation (A generation of people – between the ages of 34-54 – who are financially caring for their senior parents while supporting their own children.)
As we approach the busy tax season, CPA’s may want to find out how many of your business clients are members of the Sandwich Generation.
Sandwich Gen Stress
Here are problems business people of the Sandwich Generation experience that could be resolved with a reverse mortgage for their senior parents:
- Financial stress, which distracts from business affairs
- Added stress to home life and family members
- Senior parents’ preference to remain independent of their adult children, and live with dignity
In a recent study by the National Council on Aging, one-third of senior households have no money left over each month or are in debt after meeting essential expenses. Their lack of sufficient funds puts added pressure on the children who are helping to support them. This leaves both parties vulnerable if the supporting “Sandwich Generation” families have their own unforeseen financial setback such as needing home repairs or medical treatment, or, even worse, having one of their household’s “breadwinners” sustain a job loss.
Advisor’s Solution
Fortunately, many advisors are now seeing reverse mortgages as a solution, not only for their senior clients but also for their clients in the Sandwich Generation.
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- “I only thought a reverse mortgage would benefit those over 62 and only if they were house rich and cash poor. Now I am learning that the reverse mortgage can be a solution to my business clients who are also supporting their parents, and alleviating the stress in their personal lives and families.”
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Barry Z. CPA
San Diego
Understand the Truths
To find out if a reverse mortgage can benefit your clients, call Pete at 858.999.1776 and schedule a personal, no obligation meeting at your office or your client’s home.
Pete Tentler is a Certified Reverse Mortgage Professional®. He has been serving the residential lending industry since 1990 and offering reverse mortgage solutions since 1994. Over these years of service, his diligent focus and accountability, he has earned the status of trusted advisor to many financial planners, CPA’s, and legal advisors for their clients.
The Financial Locksmith® 