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Vol. 17 No. 13 - January 11, 2017

BUSINESS

Island Therapeutics offers relaxation and therapy

LaPensee Plumbing Pools Air

submitted

From left, Karen Abel and Jennifer Washington blend both therapy
and relaxation in their massage programs.

One of life's pleasures is getting a massage. But what if a massage is more than just a relaxing, tension-free hour? what if it's really therapy designed to make you feel renewed, energized and free from pain?

Karen Abel and Jennifer Washington, partners in Island Therapeutics in Holmes Beach, are massage therapists dedicated to blending both therapy and relaxation in their massage programs. A year ago, they opened their mini space providing a place where clients can take advantage of their customized treatment services designed to their specific needs.

Able, a native of Winnipeg, Canada, has lived in Florida for 16 years six years as a massage therapist on Anna Maria. She has been a personal trainer and holistic lifestyle coach and has a total of 18 years in the wellness industry.

Washington is a native of Florida and has been a massage therapist for five years. Also, she is a former personal trainer and nutritional coach working in the wellness industry for 10 years. Washington also serves on the board of the American Massage Therapy Association.

Both women believe in the benefits of therapeutic massage and its ability to change the structure of the body and help it to heal. A therapeutic massage has longer lasting results since it addresses the source of the problem that is causing you pain. Arthritis, back pain pre-and post-surgery, shoulder and neck pain and chronic headaches can be helped through a therapeutic massage. In addition, Island Therapeutics offers scar tissue treatment.

Other services available are Swedish massage, neuromuscular therapy, aromatherapy, myofascial release, sports massage all with the use of therapeutic grade essential oils. Washington also specializes in cranialsacral.

And not unusual for people who want to help others, Abel maintains a blog (www.floridabeachestotheberingsea.com) dedicated to honoring the legacy of military personnel serving in the Aleutian Islands during World War II. This is a passion of hers originating with her grandfather, who was a flyer for the Royal Canadian Air force. Her involvement has taken her all over the country providing a platform where The Greatest Generation can tell their stories.

Island Therapeutics' goal is to find the best massage and therapeutic modalities for their clients resulting in a blend of therapy and relaxation. Able and Washington will work with you to help you achieve an overall feeling of wellbeing with renewed energy and less pain. Give yourself a boost for the new year with the help of Island Therapeutics.

ISLAND THERAPEUTICS

5500 Marina Drive

Suite 6

Holmes Beach

941-216-8884

www.island therapeutics.com

Appointments available:

Monday – Saturday 10 a.m. to 5 p.m.

Cash or check

Anna Maria Island Sun News Story

Reverse mortgages worth another look

Investment Corner

I have written about reverse mortgages over the years, at least twice here in the Sun. My advice was that reverse mortgages were expensive for the borrower, but in the case where a retired person or couple had run out of assets, using the equity in their home through a reverse mortgage wasn’t the worst idea in the world.

I’m bringing the topic back one more time because some changes in federal guidelines have made the reverse mortgage a more attractive option for those who are over age 62, that own their home free and clear of another mortgage and who are concerned about the possibility of running low on retirement income during their lifetime

Space limitations don’t’ allow us to go into a full primer on reverse mortgages, but let’s hit some of the highlights.

• Fees are down: The up front mortgage insurance premium applied to all reverse mortgages was reduced from 2.5 percent of the loan amount to 0.5 percent by the Reverse Mortgage Stabilization Act of 2013, as long as the borrower doesn’t tap more than 60 percent of the available credit balance in the first year. Other fees have been standardized and are roughly in line with a traditional home mortgage, but often lenders will issue credits to offset some or all of these other expenses.

• Education: Borrowers are required to attend a consumer counseling session to make sure they understand the nature of the reverse mortgage. The cost of this session is $125

• Borrowing limit: The limit for reverse mortgage credit lines depends on the age of the youngest borrower, current interest rates and the lenders margin. Generally, you can access about half of the value of your principal resident, up to a current maximum value of $625,000.

• Payments: You don’t need to make payment on a reverse mortgage. The money you borrow and accrued interest must be repaid when you no longer live in the home. This can be through a move to another location, or if you pass away. The home will then be sold, the reverse mortgage paid off and any excess above that can be left to heirs.

In the past, advice was generally to take out the reverse mortgage as a last resort when it was obvious additional funds may be needed. Under current guidelines, that advice is outdated. Reverse mortgage lines of credit actually grow over time, giving the borrower the ability to borrow more. So, the current advice in most situations is to establish the line of credit in your mid-60s, when eligible, and instead of borrowing, just let the line of credit rest with a zero balance.

A line of credit for about $125,000 will grow to about $190,000 in 10 years, 290,000 in 20 years and over $440,000 in 30 years. Establishing, but not accessing the line of credit until later in retirement gives the retiree a lot of flexibility. The exact loan characteristics are influenced by the age(s) of the borrowers as well as the current level of interest rates.

In summary, for those who may find themselves real estate rich and liquid asset challenged, a reverse mortgage may be a good option.

Tom Breiter is president of Breiter Capital Management, Inc., an Anna Maria based investment advisor. He can be reached at 778-1900. Some of the investment concepts highlighted in this column may carry the risk of loss of principal, and investors should determine appropriateness for their personal situation before investing. Visit www.breitercapital.com.

 


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