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ENGAGE 2017


PFP1727 - Reverse Mortgages


Jun 13, 2017 1:30pm ‐ Jun 13, 2017 2:45pm

Standard: $49.00

Description

In the early days, reverse mortgages were generally treated as a last resort option after other resources were depleted, or as a way to obtain quick access to a large lump-sum of assets. This is not the appropriate way to think about reverse mortgages in a retirement income plan, especially in light of recent research. The reverse mortgage option should be viewed as a method for responsible retirees to create liquidity for an otherwise illiquid asset, which in turn can create new options that potentially support a more efficient retirement income strategy (more spending and/or a greater legacy). After providing an overview of retirement income planning, which sets the context for understanding the potential role of reverse mortgages, this presentation explains the basics for how reverse mortgages work. I then provide an overview of potential uses for a reverse mortgage in a retirement income plan.

Learning Objectives:

  • Identify how a reverse mortgage works
  • Address how reverse mortgages can contribute to a risk management strategy for retirement
  • Understand the mechanisms whereby reverse mortgages can coordinate with retirement spending from investments

Speaker(s):

  • Wade D. Pfau, PhD, CFA, Professor of Retirement Income, The American College
Tags: PFP

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