If there’s one generation in recent history that has most dramatically changed the retirement planning game, it’s the baby boomers. They’re one of the most talked-about generations today, with a host of well-documented challenges facing them. In a recent article, Pensions&Investment shared four telling graphics that depict the extremity of the boomers’ situation. 1. They… Read More…
One of an advisor’s biggest challenges is how to make their clients’ income and assets last through an ever-lengthening retirement. Every available tool and resource must be considered in order to achieve this goal. Backed by research from such institutions as the American College, the Reverse Mortgage has become one such tool, optimizing retirement outcomes.… Read More…
A New Day Is Dawning A few weeks ago, a momentous event occurred in our nation’s capital. For the first time in its 30 years history, the Home Equity Conversion Mortgage (i.e. Reverse Mortgage) took center stage among policy leaders and academicians. A distinguished group of researchers and panelists spent the morning presenting their research… Read More…
The Pink Tax The New York City Department of Consumer Affairs conducted a gender-pricing survey of 800 products and found that in 42% of cases, women paid more for the same products as men. As it pertains to senior-focused products: The Agency analyzed six types of home health care products. On average, women’s home health… Read More…
Is There an Ideal Client for a Reverse Mortgage? This is a question that I have often been asked, particularly over the last 5 years. When I started in the industry nearly 20 years ago, I came across an AARP explainer VHS tape that started with this line: “If you consider yourself house rich, but… Read More…
Should reverse mortgages be considered when advisors are developing comprehensive retirement income plans? Two weeks ago the Housing Wealth in Retirement Symposium gave a resounding “Yes!” The event, held in Washington, D.C. and sponsored by the Bipartisan Center and the American College of Financial Services, brought thought leaders across the industry and academia together to… Read More…
What Do All of These People Have in Common? If you said Housing Wealth thought-leaders, you’d be correct! These academicians and practitioners gathered for the first ever Housing Wealth in Retirement Symposium last week in the nation’s capital. It was a stunningly well-done event, and as the name suggests, Housing Wealth was in the spotlight… Read More…
My good friend and retirement-specialist heavyweight, Tom Hegna, shared a story with some very powerful truths relevant to every financial advisor and their clients at or nearing retirement. The original story is from Dick Austin – he contributed to Tom’s book, “Retirement Income Masters: Secrets of the Pros.” Some friends from the Northeast had always wanted… Read More…
At first glance the article title seems to suggest that a home equity conversion mortgage (HECM), also known as a reverse mortgage can be used to hedge or mitigate some of the more common risks of retirement. But I realize that for some advisors, the very notion of reverse mortgages being implemented in financial planning… Read More…
A 2017 New York Post article reported, “On average, Americans check their phone once every twelve minutes, or about eighty times a day, with one in ten checking their phones on average once every four minutes.” We all have things constantly vying for our attention, and advisors are no different. With the competition for your… Read More…
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