The Blue Oceans Retirement Podcast

Welcome to our latest podcast episode featuring Omesh Varma, business development manager at Home Equity Bank. In this episode, we delve into the intriguing topic of reverse mortgages and explore the benefits they offer. Our host, David, starts off by admitting his initial skepticism about reverse mortgages but is now intrigued by recent changes in the industry. Omesh enlightens us about the evolution of reverse mortgages, explaining how they have become more consumer-friendly over the years.
As the conversation unfolds, Omesh breaks down the concept of reverse mortgages, highlighting how they allow Canadians to access the equity in their homes tax-free, either through a lump sum or monthly payments. One of the standout features of a reverse mortgage, Omesh explains, is that there's no need for interest payments, making it especially appealing for retirees with fixed incomes. With the rising trend of retirees carrying debt, Omesh emphasizes the significance of reverse mortgages in providing financial flexibility and easing the burden of high interest payments.
David and Omesh also discuss various scenarios where reverse mortgages prove invaluable. From helping adult children buy their own homes to funding home modifications for aging homeowners, reverse mortgages offer a range of possibilities. Omesh mentions a survey that revealed 93% of retired individuals prefer to stay in their current homes, making reverse mortgages an ideal solution to support their aging-in-place goals.
The mechanics of reverse mortgages are explored, including the factors that determine the loan-to-value ratio and the minimum age requirement. Omesh emphasizes that reverse mortgages serve as a supplemental program for individuals who may not have sufficient retirement savings or who wish to eliminate debt obligations and enjoy their retirement income to the fullest.
Throughout the episode, Omesh addresses common concerns and misconceptions about reverse mortgages. He dispels the notion that interest rates are exorbitantly high, explaining that rates have become more competitive and comparable to conventional lending rates. Omesh also assures listeners that the bank never takes ownership of the home and that clients are protected by non-recourse debt, ensuring they never owe more than the value of their property.
Join us for this informative and eye-opening conversation with Omesh Varma of Home Equity Bank as we explore the benefits and possibilities of reverse mortgages. Whether you're a retiree seeking financial flexibility or someone curious about this financial tool, this episode will provide valuable insights and help you make informed decisions.

David Little is a Senior Wealth Advisor with iA Private Wealth Inc., member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
http://www.blueoceansprivatewealth.com
https://www.facebook.com/BlueOceansPrivateWealth
https://www.instagram.com/BueOceansPrivateWealth
https://www.youtube.com/@BlueOceansPrivateWealth

Discover the secrets of securing your legacy and protecting your loved ones with ClearEstate, an innovative estate planning and settlement solution. Join David as he speaks with Devon Miller, Director with ClearEstate. They discuss the importance of estate planning and share insights into the common pitfalls of handling an estate without proper preparation. Learn how ClearEstate's team of lawyers and estate planners can help you create a comprehensive plan that ensures your loved ones are protected and your estate is handled according to your wishes. Don't leave your legacy to chance – tune in to this episode and start planning your future today!

David Little is a Senior Wealth Advisor with iA Private Wealth Inc., member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
http://www.blueoceansprivatewealth.com
https://www.facebook.com/BlueOceansPrivateWealth
https://www.instagram.com/BueOceansPrivateWealth
https://www.youtube.com/@BlueOceansPrivateWealth

Join Senior Wealth Advisor David Little as we discuss the common concerns of his clients. David primarily works with business owners and professionals who are within five years of retirement and are seeking answers for a peaceful and comfortable retirement. Many of these clients have done a good job of accumulating assets but lack clarity on how to utilize them once they stop working.

According to David, the vast majority of Canadians lack a formalized retirement income plan. This can lead to a precarious situation for those entering retirement without any idea of how their retirement will look, how much income they will have, or how long it will last. David stresses the importance of having a plan in place to provide peace of mind and ensure that retirement is a time of enjoyment and comfort.

David Little is a Senior Wealth Advisor with iA Private Wealth Inc., member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
http://www.blueoceansprivatewealth.com
https://www.facebook.com/BlueOceansPrivateWealth
https://www.instagram.com/BueOceansPrivateWealth
https://www.youtube.com/@BlueOceansPrivateWealth

Join host David Little on the Blue Oceans Retirement Podcast as we dive into the crucial topic of retirement income planning. In this episode, David will address the number one question on everyone's mind: do I have enough saved to retire?
Learn about the common concerns and misconceptions surrounding retirement planning and discover the importance of having a formal roadmap for peace of mind.
Don't miss this informative episode as we explore the final chapter of life and aim to ensure a comfortable retirement for all.

David Little is a Senior Wealth Advisor with iA Private Wealth Inc., member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
http://www.blueoceansprivatewealth.com
https://www.facebook.com/BlueOceansPrivateWealth
https://www.instagram.com/BueOceansPrivateWealth
https://www.youtube.com/@BlueOceansPrivateWealth

Join David Little, Senior Wealth Advisor with Blue Oceans Private Wealth at iA Private Wealth Inc., as he guides you through the four seasons of retirement. In this insightful podcast and video, David covers the financial, emotional, and practical aspects of preparing for each stage of retirement.

Starting with spring, David discusses how to prepare for the transition into retirement, including financial planning and setting retirement goals. Next, he covers the summer season of retirement, where you can enjoy the freedom and leisure of this new phase of life.

As you move into fall, the realities of aging may begin to take their toll. David discusses how to navigate these challenges and maintain your independence and quality of life. Finally, in the winter season, David addresses the importance of leaving behind a legacy and how to plan for the end of your life.

Don't miss this informative and thought-provoking podcast and video with David Little as he helps you plan for every season of retirement.

David Little is a Senior Wealth Advisor with iA Private Wealth Inc., member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.
http://www.blueoceansprivatewealth.com
https://www.facebook.com/BlueOceansPrivateWealth
https://www.instagram.com/BueOceansPrivateWealth
https://www.youtube.com/@BlueOceansPrivateWealth