(1) 1:246 — Advisor to Boomer Ratio According to a recent article by FinancialPlanning, the financial industry has only 300,000 advisors currently serving Baby Boomers, who number some 74 million and will reach the age of 65 or older by 2029. That’s one advisor for every 246 Boomers. (2) $30 Million Inheritance Transfer It is estimated… Read More…
I had the opportunity to record a podcast with George Grombachern, host of Money Savage. On the show, we talked about the evolution of reverse mortgages and how they can be incorporated into retirement income planning. George didn’t hold back. From questions about the bad reputation of reverse mortgages to the ideal borrower to FINRA’s… Read More…
Last week I was introduced to a financial advisor who said one of his (potential) clients had a bad reaction with regards to the reverse mortgage. As I asked the advisor a few more questions, I realized he had made a few critical missteps which could be easily corrected. He wasn’t updated on the positive… Read More…
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…
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