Mar 12, 2025
What if the key to securing your financial future was sitting right under your roof? In this episode of Money with Mission, Dr. Felecia Froe sits down with reverse mortgage specialist Laura Phillips to explore the power of home equity as a financial tool. With over 25 years in real estate and mortgage lending, Laura sheds light on how reverse mortgages work, who they benefit, and the myths surrounding them. They dive deep into strategic ways to use home equity, including retirement planning, legacy building, and tax-efficient withdrawals. Whether you’re skeptical or curious, this episode will expand your understanding of how your home’s value can serve you in ways beyond just being a place to live.
Tune in for practical insights and expert guidance that may change how you view your wealth.
00:00 Introduction & Meet Laura Phillips
04:32 Laura’s Money Journey & Lessons Learned
12:45 Reverse Mortgages: What They Are & How They Work
26:13 Strategic Uses of Reverse Mortgages
39:30 Estate Planning & Family Considerations
50:16 Choosing the Right Reverse Mortgage Professional
Connect with Laura!
Website: https://lauraphillips.com/
LinkedIn: https://www.linkedin.com/in/laurawphillips/
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Key Quotes:
“Money is like a river; it comes in, it flows out. The key is learning how to control that flow to serve you best.” – Laura Phillips
“A reverse mortgage isn’t about being desperate for money—it’s about using your home’s equity as a strategic financial tool.” – Laura Phillips