A discussion with Wade D. Pfau, Ph.D. who has long been seen as an authority on financial planning and how reverse mortgages can be utilized to meet retirement goals. The latest edition of his book has been updated to reflect changes in these programs.
Wade D. Pfau, Ph.D., CFA, RICP®, is the program director of the Retirement Income Certified Professional® designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA, as well as a co-director of the college’s Center for Retirement Income. As well, he is a Principal and Director for McLean Asset Management and RISA, LLC. He also serves as a Research Fellow with the Alliance for Lifetime Income and Retirement Income Institute. He holds a doctorate in economics from Princeton University and has published more than sixty peer-reviewed research articles in a wide variety of academic and practitioner journals. He hosts the Retirement Researcher website, and is a contributor to Forbes, Advisor Perspectives, Journal of Financial Planning, and an Expert Panelist for the Wall Street Journal. Wade’s newest book is Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success. He is also the author of the books Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement, How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Income Strategies, and Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement.
Wade D. Pfau, PhD, CFA, RICP : wade@retirementresearcher.com
Powerpoint: Pfau Reverse Mortgages - 3rd Ed.pdf
Questions Asked
Chat Transcript
12:07:53 From Steve Gurney - ProAging Community to Hosts and panelists : https://retirementresearcher.com/
12:11:01 From Tracy Skalitzky : Tracy Skalitzky, Oasis Senior Advisors, helping seniors find the right Assisted Living or Memory Care Community. 301-678-8100
12:15:36 From Pam Ostrowski : Pam Ostrowski, Alzheimer's Family Consulting, helping families and senior living owners and operators navigate the Dementia journey. Pam@ItsNotThatSimple.com
12:22:11 From Belinda Ragin to Hosts and panelists : Would you recommend- or is even possible-to get a reverse mortgage for an elderly widow who lives in a very poorly maintained mobile trailer that is located on more than 3 acres of the land she owns?
12:22:19 From Pam Ostrowski : Please name some companies!!
12:23:19 From JEAN IVORY : What is the difference between a Reverse Mortgage and an Equity Loan?
12:23:21 From Steve Gurney - ProAging Community to Hosts and panelists : PATTI FARRELL
NMLS#455372
HECM LOAN SPECIALIST
SINCE 2003
RMF
Reverse Mortgage Funding LLC
Direct: (443) 992-6231
pfarrell@reversefunding.com
https:/reversefunding.com/patti-farrell
12:23:28 From Judy Probber : Judy, retiree. don't have a lot of cash flow and want to explore options for unanticipated expenses.
12:23:56 From Patti Farrell : Patti Farrell RMF ( Reverse Mortgage Funding) since 2003 offered local education about the FHA HECM here for any questions pfarrell@reversefunding.com 443-992-6231 In Maryland and surrounding states Thanks Steve
12:25:25 From Tom Di Leo to Hosts and panelists : Tom Di Leo Mutual of Omaha. I am in California contact me at tdileo@mutualmortgage.com or cell phone 562-547-4311
12:25:48 From Steve Gurney - ProAging Community : From Tom Di Leo to All Panelists 12:25 PM
Tom Di Leo Mutual of Omaha. I am in California contact me at tdileo@mutualmortgage.com or cell phone 562-547-4311
12:27:21 From Pam Ostrowski : Does it matter if I start the Reverse Mortgage at the time I buy the home or wait until a few years later, when I might need the money more?
12:27:21 From Mary JANE Barney-Butler : What about a disabled adult child?
12:29:16 From Marjorie Fox : A HECM LOC grows over time. Is that feature at risk of being eliminated?
12:29:31 From Tom Di Leo to Hosts and panelists : We do Reverse For Purchase Loans. Mutual of Omaha is the largest Reverse for purchase lender in the US
12:29:34 From Judy Probber to Hosts and panelists : Please clarify. Can I trade in my traditional mortgage for a reverse mortgage?
12:30:11 From Belinda Ragin to Hosts and panelists : If an eligible home owner takes out a reverse mortgage would the family have to pay it back after the owner dies in order to keep the home?
12:31:52 From Patti Farrell : 2014 and updated in 2021
12:34:42 From Patti Farrell : HUD issues mortgagee letters that explain rules .for NBS ( non borrowing spouse) . Lenders can share.
12:36:19 From Mary JANE Barney-Butler : So can a person conceivably outlive the actual valus e
12:36:33 From Mary JANE Barney-Butler : oops value of the home?
12:38:18 From Jessica Lamer : Roughly what are the upfront costs to refinancing into a reverse mortgage? Thousands?
12:41:26 From Patti Farrell : FHA HECM only reverse currently able to be used in MD.
12:43:56 From Steve Gurney - ProAging Community : Reverse Mortgages: How to use Reverse Mortgages to Secure Your Retirement (The Retirement Researcher Guide Series) https://www.amazon.com/Reverse-Mortgages-Secure-Retirement-Researcher/dp/194564012X/ref=pd_lpo_1?pd_rd_i=194564012X&psc=1
12:49:59 From Steve Gurney - ProAging Community : Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success (The Retirement Researcher's Guide)https://www.amazon.com/dp/194564009X/ref=redir_mobile_desktop?_encoding=UTF8&aaxitk=252ec44cd62c85c39ed32c44165937b6&content-id=amzn1.sym.53aae2ac-0129-49a5-9c09-6530a9e11786:amzn1.sym.53aae2ac-0129-49a5-9c09-6530a9e11786&hsa_cr_id=9005480900401&pd_rd_plhdr=t&pd_rd_r=e2eceb6e-0bef-491f-a899-1fd7350ceed9&pd_rd_w=RxZ4U&pd_rd_wg=H1Ec8&qid=1664383773&ref_=sbx_be_s_sparkle_mcd_asin_0_title&sr=1-1-a094db1c-5033-42c6-82a2-587d01f975e8
12:53:12 From Pam Ostrowski to Hosts and panelists : When copying links, you can leave off anything after the ?
12:54:39 From Steve Gurney - ProAging Community : https://www.retirementlivingsourcebook.com/videos/gray-divorce
12:54:54 From Shirley Snowden to Hosts and panelists : Hello - Can the presentation be sent to us? Thank you.
12:55:08 From Wade D. Pfau, PhD, CFA, RICP : https://www.amazon.com/dp/194564009X/ - Retirement Planning Guidebook
12:55:24 From Shirley Snowden to Hosts and panelists : Thank you very much!
12:55:37 From Mary JANE Barney-Butler : Have to go would love to get anything he shares! Great presentation! Thank you!!! MJBB
12:56:07 From Pam Ostrowski : This was fantastic! THANK YOU!
12:56:24 From Patti Farrell : Thank you Wade..
12:57:06 From Shirley Snowden : Great Session! Thanks!
12:57:07 From Elizabeth Singleton : Thank you, Wade, and Steve, for this opportunity to learn more.
12:59:15 From Pam Ostrowski : Maybe Wade could come back and go through his slide deck? :)
13:00:29 From Pam Ostrowski : What is Wade's contact info?
13:01:09 From Wade D. Pfau, PhD, CFA, RICP : wade@retirementresearcher.com
13:01:52 From Pam Ostrowski : Thanks again!
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