It’s time to get the education out there about reverse mortgages.

In this episode, Jamie Hopkins, Managing Partner of Wealth Solutions, and Ana Trujillo Limón, Director, Coaching and Advisor Content, are joined by Craig Lemoine, CFP®, Ph.D., MRFC, Director of Personal Financial Planning, to interview Dr. Barry Sacks, J.D., Ph.D., Principal at Law Office of Barry H. Sacks, about his research on retirement income and housing wealth. Dr. Sacks talks about the importance of home equity in retirement planning and the use of reverse mortgages to mitigate adverse investment returns. He also discusses his 2021 paper on the risk side of retirement planning and the concept of risk of cash flow exhaustion. In addition, Dr. Barry covers the regulatory landscape of reverse mortgages, addresses the challenges faced by financial planners, and discusses the complexities of dividing assets in divorce and the potential benefits of reverse mortgages.

Barry and Craig discuss: 

  • Dr. Barry Sacks’ research on using reverse mortgages and home equity lines of credit in retirement planning
  • Why it’s important to consider home equity as a crucial asset in retirement planning
  • How incorporating home equity into retirement planning can increase safe withdrawal percentages
  • What the risk of cash flow exhaustion concept in retirement planning is
  • Some of the challenges financial advisors face when they talk about reverse mortgages
  • How reverse mortgages can be used in divorce situations to preserve retirement income
  • And more

Resources:

Connect with Ana Trujillo Limón: 

Connect with Barry Sacks:

Connect with Craig Lemoine:

About our Guests:

Meet Barry H. Sacks, J.D., Ph.D., Reverse Mortgage Retirement Portfolio Longevity expert. Barry Sacks, Ph.D. earned his Ph.D. in semiconductor physics from M.I.T. and then taught at U.C. Berkeley. He earned a J.D. from Harvard Law School and is a Certified Specialist, Taxation Law, from the California Board of Legal Specialization.  Barry spent 35 years as an ERISA attorney, specializing in qualified retirement plans. He then used his breadth of skills to discover a role for a reverse mortgage to help make a retirement portfolio last longer. Barry now has a law practice providing special services to tax professionals in the area of “Offers in Compromise” for retirees living on 401(k) accounts or other securities portfolios.

Disclosure:

This episode of Framework was pre-recorded. At the time of recording, Jamie Hopkins was affiliated with CWM, LLC. Jamie Hopkins is not currently registered with or affiliated with CWM, LLC.

This episode of the Framework podcast is purely educational. No products or services will be recommended or offered for sale. The opinions voiced in the Framework podcast  are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

 

Carson Group is committed to advancing financial literacy. Our coaches work with thousands of FPA members. Schedule a consultation to learn how Carson can help you help your clients and grow your business.

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