Craig Corn in Kiplinger: Why the “Last Resort” Rule Concentrates Client Wealth

The argument Corn makes is a sequencing argument. When a plan draws down liquid holdings first and defers housing wealth by default, the share of a client’s net worth held in a single illiquid asset rises steadily through retirement. As he writes, “a client who began retirement reasonably diversified ends it with something approaching all of their wealth in one illiquid, undiversified position.”

The piece also draws on research from the Boston College Center for Retirement Research published in January 2026, which found that home sellers begin realizing lower sale prices from around age 70, with sellers at 80 netting roughly 5% less than younger sellers — deferred maintenance accounting for about a quarter of the gap. Corn’s point is a planning one: the concentration peaks during exactly the years the asset is likeliest to underperform.

His conclusion is that housing wealth belongs in the planning conversation earlier — in a client’s 50s and 60s, while insurance and long-term care underwriting windows remain open — and evaluated alongside other assets rather than deferred by default. Home equity investment agreements, including CHEIFS®, are referenced as one structure some advisors evaluate in that context.

📖 Read the full article HERE

1. This article was written by and presents the views of Cornerstone Financing’s Craig Corn, a Kiplinger contributing adviser, and not the Kiplinger editorial staff.

2. Source: Boston College Center for Retirement Research, January 2026.

Disclosures

This article is for informational and marketing purposes only and does not constitute financial, tax, or legal advice. Homeowners should consult with independent, licensed financial, tax, and legal professionals for advice. CHEIFS may involve risks, fees, costs, contractual obligations, and other material considerations not appropriate for all homeowners. Homeowners and their independent advisors should carefully evaluate all available options against the homeowner’s individual financial situation, goals, and overall financial and tax strategy.

CHEIFS is a home equity investment agreement (or “HEI”), not a loan. This is not an offer or commitment. CHEIFS is subject to underwriting and approval, including property appraisal(s) and verification of credit history, property condition, title, and property insurance, among other things. Performance of the CHEIFS agreement is secured by a mortgage or trust deed, depending on the state, in no lower than second lien priority. The equity share return becomes payable upon a settlement event and is calculated as a percentage of the home’s future value, subject to the program’s cost cap. Homeowner pays an origination fee plus appraisal, title, recording fees, and other closing costs. Homeowner must occupy and maintain the property and remain current on property insurance, taxes and assessments, and payments on any other mortgages. Terms may vary and are subject to change. Additional conditions apply. Not available in all states.

Cornerstone does not offer HEI products or solicit business related to properties located in the states of NY, MN, and certain other states. Please visit cheifs.com/licensing for a list of states where CHEIFS is offered. CHEIFS is offered exclusively by Cornerstone Financing LLC, and its subsidiary Domus Funding Corp. (in California only), and does business as “Domus Funding LLC” in OH and as “Domus Funding” in NH. Principal Office: 86 Summit Ave., Ste. 201, Summit, NJ 07901. Toll-free (855) 462-4343. NMLS #2557707, www.nmlsconsumeraccess.org. CA DRE license #02248492. Not licensed in all states. Cornerstone’s HEI product is not offered under state mortgage lending licenses.

InsMark® and Wealthy and Wise+™ are service marks of InsMark LLC and are used with permission. © 2026 Cornerstone Financing LLC. “CHEIFS” is a registered service mark, and the CHEIFS logo is a service mark, of Cornerstone Financing LLC. All rights reserved.