If you are like most advisors, you have aspirations and dreams to build your business. You may have thoughts of creating business plans to assist you in reaching your goals. However, ask yourself this question: “How many times have I created a business plan only to file it away or lose my motivation to follow it through?”

Oftentimes, advisors start out their business plans with the best of intentions, only to get sidetracked by the day-to-day operations which leave those plans unattended and ultimately unfulfilled. If this has happened to you, rest assured that you are not alone. So what is the solution?

No matter what time of the year, no matter what stage of your planning, a business plan is not enough, you need a business blueprint!

These days, people are living longer which, of course, is a good thing. But it also means retirees’ savings must stretch further to last throughout retirement. Throw in the recent surge in inflation, rising long-term care costs, and the unfortunate reality that many retirees are not financially prepared for retirement, and we have the makings of a retirement crisis ahead. 

On the bright side for older-adult homeowners, housing wealth has been on the rise. According to the National Reverse Mortgage Lenders Association (NRMLA), U.S. homeowners aged 62+ saw their home equity soar to a record $10 trillion in 2021. It can be prudent for homeowners and their advisors to discuss ways to incorporate housing wealth into retirement planning decisions.