Realogics Sotheby’s International Realty hosted the all-company meeting and Market Maker event last week in the brand’s Bellevue office, inviting Global Real Estate Advisors, industry experts, keynote speakers, and staff to join for a look towards the future of the market together. Stay tuned for a full recap on the event to be published to the RSIR blog.
Full of numerous highlights, one of the event’s most insightful portions was the “Maturing Demographics & Opportunities With the ‘Great Wealth Transfer'”, consisting of celebrated professionals Amy Mutal of Prevail Wealth Management, Jolene Messmer of Movement Mortgage, Trevor Jones of T. Jones Group, and Matthew Gardner of Gardner Economics. It was moderated by RSIR President and CEO Dean Jones, who opened the discussion by discussing the concept of the “silver tsunami,” stating, “There is a tremendous amount of equity and wealth that is pent up in our older generation.” Trillions of dollars will be transferred from the older generation to gen x, millennials, and gen z.
The panel kicked off with hot topics on everyone’s mind, like capital gains tax, accessing capital, and asset depletion. Jolene Messmer touched on utilizing your assets as income, which is particularly helpful for retirees who may not have income coming in any longer but own properties that they can tap into as assets. Jolene said, “A lot of people don’t realize that they have the ability to qualify for these properties without having a W2 job,” on applying for a mortgage loan.
Although the panel did acknowledge the barriers of taxes, they also acknowledged that taxes need not be as important as some people make them out to be when planning for the future, particularly in relation to capital gains tax. As Amy Mutal said, “Don’t make big life decisions and prevent yourself from living the lifestyle you worked so hard to achieve because of a tax burden.”
There are ways to make financially savvy choices that will serve you in the present and further down the road, but it’s also important to acknowledge that there’s such a thing as “good debt” and taking on certain debts or paying taxes now will allow you to have a better quality of life now.
Dean Jones noted, “There are ways you can lighten your load, take some debt, enjoy your best life, and be smart about what you pay the government, especially if capital gains tax code is changing.”
As the panel wrapped up, Amy Mutal offered a complimentary, no-obligation consultation from Prevail Wealth Management to RSIR clients. This complimentary consultation will include a portfolio analysis to determine if you have the appropriate investments and diversification for your specific situation. You’ll also be provided with a concise, personalized financial plan. Explore this remarkable offer here.