Wade pfau

In 2013, Investment News named Wade Pfau one of the “20 people expected to shape the financial advisory industry.” Since then, IN has named him to their lists of industry leaders every year, most recently on their list of “Icons & Innovators” of the financial industry in 2016. He has been recognized with numerous other honors, including sharing the [...]


Joe Anderson
ABOUT Joseph

As CEO and President, Joe Anderson has created a unique, ambitious business model utilizing advanced service, training, sales, and marketing strategies to grow Pure Financial Advisors into the trustworthy, client-focused company it is today. Pure Financial, a Registered Investment Advisor (RIA), was ranked 15 out of 100 top ETF Power Users by RIA channel (2023), was [...]

Alan Clopine

Alan Clopine is the Executive Chairman of Pure Financial Advisors, LLC (Pure). He has been an executive leader of the Company for over a decade, including CFO, CEO, and Chairman. Alan joined the firm in 2008, about one year after it was established. In his tenure at Pure, the firm has grown from approximately $50 [...]

Are you getting close to retirement but aren’t sure if you will have enough of an income stream to enjoy your time in retirement? Financial Experts Joe and Al explore ways to produce more income with the largest asset many retirees own: their home. American College Professor, Wade Pfau, takes a look at the pros and cons of selecting a reverse mortgage and highlights why this tool no longer deserves a bad reputation. A reverse mortgage isn’t the right choice for everyone but Joe and Al explore other options such as downsizing to a less expensive home, mortgage options, alternatives to cash and possible tax consequences.

Important Points:

(1:03) – Median Net Worth & Home Ownership Rates

(1:56) – Banking on Your House in Retirement

(3:32) – Downsizing for Retirement

(5:34) – Section 121 Tax Exclusion

(6:35) – Proposition 60 (California)

(7:37) – True or False? Most baby boomers prefer to downsize to a smaller home during retirement.

(9:04) – Potential Mortgage Solutions

(9:45) – Tax Consequences: When You Borrow from Your Home

(10:10) – Reverse Mortgages

(10:45) – Interview with Dr. Wade Pfau, Professor of Retirement Income at the American College

(16:32) – True or False? Retirees 62 years-old or older can take a reverse mortgage without going through counseling.

(17:58) – Cons of a Reverse Mortgage

(18:58) – Making Money from Your Home

(20:18) – Email Question #1: If my home goes under water after I secure a reverse mortgage, will I or my children have to pay for the additional debt?

(20:58) – Email Question #2: Does it make sense for me to get a reverse mortgage to increase my cash flow so that I can delay claiming my social security benefits?

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