Hidden Wealth: Unlocking Home Equity for Retirement Planning

Wednesday, May 8

8:00 AM - 9:00 AM

Location: Grande Ballroom D

CE: 1

Level of Complexity: Intermediate

Presenter(s)

Christopher Mayer, PhD

CEO
Longbridge Financial
Wade Pfau, PhD, CFA

Professor of Retirement Income
The American College

Elderly homeowners own $7 Trillion in home equity and many are struggling with a financial plan that fully fund their lifetime expenses, but financial advisers overlook this hidden wealth. Why? In this 1-hour presentation, we take a deep dive into the federally-insured Home Equity Conversion Mortgage (HECM) to understand how it can improve the retirement plans of clients, protect against longevity risk, be optimized to fit with client goals, and to do so in an ethical and compliant manner. The session also presents a new 3rd party tool to help analyze the impact of home equity on retirement outcomes.

Learning Objectives:

Learn statistics of financial wealth vs total wealth for American seniors
Review changes to HECM program from 2013 – 2017 to strengthen consumer protections
Understand core foundation of HECM including qualification, ongoing requirements, consumer protections, disbursement of funds, credit line growth, and settlement.