2024 the best home equity loan review

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*This is the Updated 2024 Edition Made Available in January 2024* Reverse mortgages are an important retirement planning tool. This book provides an up-to-date understanding about reverse mortgages and how to use them as part of a complete and responsible retirement plan.

I am a professor of retirement income. I may be the only author of a reverse mortgage book who does not work within the reverse mortgage industry. My focus is on finding ways to build strong retirement plans, and this is the perspective I bring to reverse mortgages.

I know that reverse mortgages can look expensive in isolation. But reverse mortgages should not be viewed that way. We need to focus on their overall contribution and interactions with other retirement assets as well.

Retirement is different from what people are accustomed to when working. Risks change. Retirees must sustain spending while not knowing how long their funds need to last, while managing the risks of a market downturn that can permanently derail a retirement portfolio, and while also being ready to manage unexpected spending surprises.

Reverse mortgages can help to manage these retirement risks by providing an additional resource to support spending and to coordinate with other investments assets.

My overarching interest is in building efficient retirement income plans to support the most spending potential for assets, both during life and as a legacy for the next generation. I demonstrate with case studies how reverse mortgages can contribute to better retirement outcomes in numerous ways:

- Coordinate between spending from the investment portfolio and from the reverse mortgage to better protect investments from market volatility

- Avoid the additional burden of fixed mortgage payments in retirement by refinancing a traditional mortgage with a reverse mortgage

- Pay for home renovations to help you comfortably age in place with the home you love

- Build a bridge to support getting the most lifetime value from Social Security benefits

- Use the reverse mortgage as a tax-free spending resource to better manage your taxable income

- Use the growing line of credit as a protective hedge for your home value or as a source of reserves to cover unexpected spending needs

This book provides the basics for how reverse mortgages work, why they work better when interest rates are low (unlike every other retirement tool), what their growing line of credit means, and how they help to manage investment volatility.

Reverse mortgages---when used correctly---can provide an added layer of security for retirees by creating flexibility for their assets. Opening a reverse mortgage earlier in retirement and using it in a thoughtful manner is generally more effective that treating it only as a last resort option.

Those who understand whether and how to fit a reverse mortgage into their retirement plan will have an important edge in achieving a financially secure retirement. This book shows you how.

Publisher ‏ : ‎ Retirement Researcher Media (February 24, 2022)
Language ‏ : ‎ English
Paperback ‏ : ‎ 141 pages
ISBN-10 ‏ : ‎ 194564012X
ISBN-13 ‏ : ‎ 978-1945640124
Item Weight ‏ : ‎ 7.1 ounces
Dimensions ‏ : ‎ 6 x 0.32 x 9 inches
Reviewer: Christian C.
Rating: 5.0 out of 5 stars
Title: Good for advisors and individual investors alike
Review: I am a financial advisor who has been following Wade for over a decade. This book sheds light on an often misunderstood topic. Whether your interested in this topic for yourself, a family member or a client, you owe it to yourself to start here. Especially valuable is chapter 5 which brings conceptual topics together with practical analysis and truly actionable ideas.

Reviewer: Evan D. Wohl
Rating: 5.0 out of 5 stars
Title: Easy to understand, quick read. Wade Pfau is an expert you want to follow.
Review: I am a CERTIFIED FINANCIAL PLANNER™. I have found Wade Pfau to be the best source of impirical data, while keeping topics simple and easy to understand. I am helping my parents consider a reverse mortgage for their retirement income planning. This book exceeded my expectations! I highly recommend this book and any work done by Dr. Wade Pfau.

Reviewer: LesleyE
Rating: 5.0 out of 5 stars
Title: Excellent book on reverse mortgages - can be read in 3-4 hours
Review: I read this book as part of a masters degree program for financial planning. It neatly lays out how a reverse mortgage could be useful. Commonly, a reverse mortgage may be viewed as a "last resort" for those in retirement as a way to generate income. This book offers an alternative view. It may be useful entering retirement to use a reverse mortgage as part of a coordinated distribution strategy in conjunction with Social Security and portfolio withdrawals rather than as a last resort. Reverse mortgages would not benefit all retirees, risks and costs should be carefully considered. This book is excellent as the content is great and the entire book can be read in about 3-4 hours. It would be beneficial for most entering retirement or considering a reverse mortgage to read this book.

Reviewer: Steve S.
Rating: 4.0 out of 5 stars
Title: Good Book
Review: Very informative

Reviewer: Brady Mullen
Rating: 5.0 out of 5 stars
Title: Game Changer
Review: I love that this is written by a well-credentialed, respected and impartial author. This book does a great job of explaining how reverse mortgages work, and, more importantly, how to USE them effectively.Thanks, Wade. Keep up the good work!

Reviewer: ssh87
Rating: 5.0 out of 5 stars
Title: the most insightful source on using housing wealth as part of your retirement
Review: 35 million households are 62 or older. Less than 1% use this gem called a HECM. It can increase retirement length, lifestyle, liquidity, and legacy by introducing a new asset class into your portfolio.My favorite tips were using it to reduce (income) taxes, delay social security and reduce cash reserves with a coordinated portfolio strategy.I you won’t accept a portfolio that 100% stocks, why do you accept a portfolio that 0% home equity?

Reviewer: LINDA STEPHENS
Rating: 3.0 out of 5 stars
Title: Never get an adverse mortgage
Review: A reverse mortgage is a rip off.Your house and it should be where your family can pay the mortgage back in the event of your death on payments.A single disabled adult child living at home should be allowed to live in the house in the event of your death.The interest rate are high and the accumulated amount left owing on the mortgage when you die is absurd.get a low rate government loan instead.

Reviewer: Susan Fuller
Rating: 5.0 out of 5 stars
Title: A somewhat complicated subject, made easy to understand
Review: I'm so glad I read this short book. There're a lot of myths out there about these products, and I had to read some of it more than once before it sunk in. In the end, I got a reverse mortgage, which requires a phone counciling session. My councilor was quite surprised that I know the answers to her quizzes and that I completely understood what I was getting into. The book details the use of a reverse mortgage as another retirement product to make financing your retirement. There's more to do after you retire than just taking money out of your 401k, IRA's, etc. Wade Pfau is a respected retirement finance researcher and this is is easiest writing, as far as I can tell. You won't regret reading it.