“Well, you know, another 25-30 years, you just get a reverse mortgage, then you can pay it all off then, right? I think that’s the exit strategy for this next generation,” he mused.
Reflecting on his own family, Miller shared, “My kids are like 15 and 13, and we can wait another 15 years and be there to say, ‘OK, we’ve got $50,000 to help you for a down payment.’ Or we could do the smart thing and acquire some properties for them now that can grow.”
Miller also emphasized a perspective he often shares with his clients: “Don’t die and leave them an inheritance, help them now and watch them benefit from what you’ve done. And get to enjoy it with them.
“It would be nice to take $100,000 and help my daughter get into this house, or my granddaughter gets into this house and I can go visit her and be stoked, versus I die and she gets $100,000.”
Want to get more insights and tips from successful mortgage professionals? Receive exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://www.mpamag.com/us/specialty/reverse/real-estate-legacy-planning-why-wait/458558
