The Academy for Home Equity in Financial Planning
The University of Illinois at Urbana-Champaign
Publications by Academy members and other thought leaders
Integrating home equity into retirement planning (Academy for Home Equity in Financial Planning Building a top down and bottom up approach of how home equity can help with retirement income. Video in Investment News May 2019
Funding Longevity Task Force Gets New Name and Home, Adds Karin Hill in Reverse Mortgage Daily May 2019
The Academy of Home Equity in Financial Planning focuses on smart use of housing wealth in HousingWire May 2019
American College’s ‘Funding Longevity Task Force’ Establishes Advisory Board in Life & Health Advisor Jul 2017
Increased Retirement Cashflow: Reverse Mortgages + Investments
Neuwirth, Peter, Barry H. Sacks, and Stephen R. Sacks. 2017. “Integrating Home Equity and Retirement Saving through the Rule of 30“. Journal of Financial Planning, 30(10): 52-62.
Pfeiffer, Shaun, C. Angus Schaal, and John Salter. 2014. “HECM Reverse Mortgages: Now or Last Resort?” Journal of Financial Planning 27(5): 44-51.
Pfau, Wade. 2016. “Incorporating Home Equity into a Retirement Income Strategy.” Journal of Financial Planning 29 (4): 41–49.
Pfeiffer, Shaun, John Salter, and Harold Evensky. 2013. “Increasing the Sustainable Withdrawal Rate Using the Standby Reverse Mortgage.” Journal of Financial Planning 26(12): 55-62.
Sacks, Barry H., and Stephen R. Sacks. 2012. “Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income.” Journal of Financial Planning 25(2): 43-52.
Sacks, Barry, and Mary Jo Lafaye. 2016. “Case Study.” In Giordano, Shelley. 2016 “An Alternative Asset to Buffer Sequence-of-Return Risk in Retirement.” The Retirement Management Journal, 6(1): 17-26.
Salter, John, Shaun Pfeiffer, and Harold Evensky. 2012. “Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions.” Journal of Financial Planning 25(8): 40–48.
Tomlinson, Joe, Shaun Pfeiffer, and John Salter. 2016. “Reverse Mortgages, Annuities and Investments: Sorting Out the Options to Generate Sustainable Retirement Income.” Journal of Personal Finance, 15(1): 27 – 36.
Tomlinson, Joe. 2015. “New Research: Reverse Mortgages, SPIAs and Retirement Income.” Advisor Perspectives April 14.
Tomlinson, Joe. 2014. “How Reverse Mortgages Improve Sustainable Withdrawal Rates.” Advisor Perspectives March 18.
Wagner, Gerald C. 2013. “The 6.0 Percent Rule.” Journal of Financial Planning 26(12): 46 – 54. A 2014 update.
Warshawsky, Mark J. 2017 “To Enhance Lifetime Retirement Security, Use Reverse Mortgages or Immediate Annuities?” Journal of Financial Planning 30(2): 52-60.
Reverse Mortgages in Financial Planning – General
Davidoff, Thomas. 2015 “Can “High Costs” Justify Weak Demand for the Home Equity Conversion Mortgage?” Review of Financial Studies, Aug. 28(8): 2364-2398.
Davison, Tom. 2014 ”Strategic Uses of Reverse Mortgages for Affluent Clients” ToolsforRetirementPlanning.com
Davison, Tom. 2014 “Reverse Mortgage Funds Social Security Delay.” ToolsforRetirementPlanning.com
Davison, Tom, and Turner, Keith. 2015 “The Reverse Mortgage: A Strategic Lifetime Income Planning Resource” The Journal of Retirement, 3(2): 61-79.
Giordano, Shelley. 2016 “An Alternative Asset to Buffer Sequence-of-Return Risk in Retirement.” The Retirement Management Journal, 6(1): 17-26.
Hopkins, Jamie Patrick. 2017. The Effect of Low Reverse Mortgage Literacy on Usage of Home Equity in Retirement Income Plans Journal of Financial Planning, 30(5): 44-52.
Johnson, David W. and Zamira S. Simkins. 2014. “Retirement Trends, Current Monetary Policy, and the Reverse Mortgage Market.” Journal of Financial Planning, 27(3): 52 – 59. Explanation of tenure payments.
Kitces, Michael. 2014. “Taking a Fresh Look at Reverse Mortgages in Retirement.” AICPA Advanced Personal Financial Planning Conference. January 21.
Kitces, Michael. 2013. “Is a Reverse Mortgage Better Than Keeping a Traditional Amortizing Mortgage in Retirement?” Nerd’s Eye View. September 18.
Kitces, Michael. 2011. “A Fresh Look at the Reverse Mortgage.” The Kitces Report. October.
Kitces, Michael. 2011. “Evaluating Reverse Mortgage Strategies.” The Kitces Report. November.
Pepe, Stephen R. 2017. “The Home Equity Conversion Mortgage as a Long-Term Care Insurance Alternative for Financing In-Home Care.” Journal of Financial Service Professionals. July. Issue 4 (53-66).
Pfau, Wade, Joe Tomlinson, Steve Vernon. 2017. “Optimizing Retirement Income by Integrating Retirement Plans, IRAs, and Home Equity: A Framework for Evaluating Retirement Income Decisions.” Stanford Center on Longevity, November.
Pfau, Wade D. 2015. “Advisors Need a Fresh Look at Reverse Mortgages.” Advisor Perspectives December 1.
Sacks, Barry H., Mary Jo Lafaye, Stephen R. Sacks. 2017. “Using Housing Wealth to Facilitate Asset Division in “Silver Divorce” 3 Scenarios Show How Reverse Mortgages Can Simplify Divorce for Seniors.” Divorce Financial Analyst Journal. Forthcoming.
West, Thomas C. and Steven A. Starnes. 2018 “Appropriate Investment Strategies During a Period of Care.” Journal of Financial Planning, January. 31(1): 37-39. “An HECM line of credit can be a good source of liquidity during a bear market and can meaningfully increase sustainable withdrawal rates, especially when implemented early in retirement…”
Books and General References
Giordano, Shelley. 2019. “What’s the Deal With Reverse Mortgages?” 2nd Edition Rethink Press
Pfau, Wade, 2018. “How to Use Reverse Mortgages to Secure Your Retirement” 2nd Edition Retirement Researcher Media
Selected publications involving members of The Academy for Home Equity in Financial Planning
Alphabetical by author and generally in chronological order
Putting Your Home to Work When You Retire by Marguerita Cheng in Let’s Make a Plan from Certified Financial Planner Board of Standards, Inc.
Financing Your Home Improvement Project by Marguerita Cheng in Let’s Make a Plan from Certified Financial Planner Board of Standards, Inc.
How late in life divorce affects your retirement by Marguerita Cheng in Let’s Make a Plan from Certified Financial Planner Board of Standards, Inc.
CFPB Report on Social Security Claiming and Reverse Mortgages: Slanted by Silence by Tom Davison at Tools for Retirement Planning
Do you prefer a ReLOC or HELOC? by Tom Davison at Tools for Retirement Planning
Reverse Mortgages: Many Users, Many Uses by Tom Davison at Tools for Retirement Planning
Major Tax Deduction Changes for Reverse Mortgages: January 18, 2018 Update by Tom Davison at Tools for Retirement Planning
Reverse Mortgage Disbursements Capped – Additional Clarification From HUD Required by Tom Davison at Tools for Retirement Planning
Sales is a Contact Sport: Face-to-face, gratitude and personal effort by Shelley Giordano at issuu.com May-Jun 2019
Could Employers Improve Retirement Outcomes With Reverse Mortgage Education? By Shelley Giordano in Benefits Magazine
Spotlight: Knowing Our Product and Selling It Right by Shelley Giordano in The Reverse Review
Opinion: Washington Post Headline Overstates Reverse Mortgage Costs by Shelley Giordano in Reverse Mortgage Daily
How Your House Can Help Pay For Retirement by Jamie Hopkins in Forbes Apr 2017
The New York Times Got It Wrong About Reverse Mortgages by Jamie Hopkins in Forbes Jun 2017
Reverse Mortgages Rules To Change Positively And Negatively For Retirees by Jamie Hopkins in Forbes Sep 2017
The Effect of Low Reverse Mortgage Literacy on Usage of Home Equity in Retirement Income Plans by Jamie Hopkins in The Journal of Financial Planning 2017
Should Advisors Reconsider the Use of Reverse Mortgages? citing Jamie Hopkins and Wade Pfau in CFA Institute Magazine Dec 2017
Researchers Say Reverse Mortgages Deserve a Second Look by Jamie Hopkins in Forbes Mar 2018
Relocating in Retirement – Don’t Make these Common Mistakes by Jamie Hopkins In Forbes Apr 2018
How Your House Can Help Pay For Retirement by Jamie Hopkins in Forbes Apr 2017
CFPB Releases Misleading Report on Social Security Deferral Strategies by Jamie Hopkins in Forbes Aug 2017
Our Consumer Financial Watchdog Misses the Mark on Social Security by Jamie Hopkins in The Hill Aug 2017
Reverse Mortgages Rules To Change Positively And Negatively For Retirees by Jamie Hopkins in Forbes Sep 2017
Financial Advisors Should Avoid Error by Omission and Consider Reverse Mortgages by Jamie Hopkins in Investment News Jan 2018
‘Silver’ Divorce Puts Strain On Retirement Income by Jamie Hopkins in Forbes Jan 2018
The Financial Planning Elephant Advisors Aren’t Acknowledging by Jamie Hopkins in AdvisorNews Feb 2019
Should You Get One of the New Reverse Mortgages? citing Jamie Hopkins in Next Avenue Feb 2019
How reverse mortgages work as a source of retirement income by Wade Pfau in Investment News Oct 2016
Retirees Should Consider Reverse Mortgages by Wade Pfau in ThinkAdvisor Apr 2016
Using Reverse Mortgages In A Responsible Retirement Income Plan by Wade Pfau in Forbes Feb 2017
Reverse-Mortgage Background and History by Wade Pfau in Forbes Sep 2018
Eligibility Requirements for a HECM Borrower and Measuring Available Credit by Wade Pfau in Forbes Dec 2018
Updated Principal Limit Factor Tables by Wade Pfau in Forbes Dec 2018
Upfront Costs for a Reverse Mortgage by Wade Pfau in Forbes Jan 2019
Ongoing Credit and Costs for a Reverse Mortgage by Wade Pfau in Forbes Jan 2019
Spending Options for a Variable Rate HECM by Wade Pfau in Forbes Jan 2019
Understanding Why and How The HECM Line Of Credit Grows by Wade Pfau in Forbes Jan 2019
Why Open a Reverse Mortgage Before It is Actually Needed? by Wade Pfau in Forbes Jan 2019
Deciding on a Package of Costs for a HECM Reverse Mortgage by Wade Pfau in Forbes Jan 2019
Reverse-Mortgage Calculator by Wade Pfau in Forbes Feb 2018
Repayment of the HECM Loan Balance and the Tax Issues by Wade Pfau in Forbes Feb 2019
Strategies for Carrying a Mortgage into Retirement Part 1 by Wade Pfau in Forbes Feb 2019
Strategies for Carrying a Mortgage into Retirement – Continued by Wade Pfau in Forbes Feb 2019
HECM For Purchase Program by Wade Pfau in Forbes Apr 2019
What the Critics Get Wrong About Reverse Mortgages by Wade Pfau in Advisor Perspectives Apr 2019
The Tenure Option as an Annuity Alternative Part 1 by Wade Pfau in Forbes Apr 2019
The Tenure Option as an Annuity Alternative Part 2 by Wade Pfau in Forbes Apr 2019
Preserve Credit as an ‘Insurance’ Policy by Wade Pfau in Forbes May 2019
Reverse Mortgage Risks by Wade Pfau in Forbes May 2019
FINRA’s Stance on Reverse Mortgages by Wade Pfau in Forbes May 2019
Despite Tough Sell, Don’t Ignore Reverse Mortgages citing Wade Pfau and Christopher Mayer at FPA Retreat May 2019
Using Housing Wealth to Improve Financial Outcomes in Retirement by Barry Sacks, Mary Jo Lafaye and Stephen R Sacks in NAPFA Advisor Nov 2017
Selected Media Mentions
Funding Longevity Task Force Gets New Name and Home, Adds Karin Hill Now the Academy of Home Equity In Financial Planning. Reverse Mortgage Daily May 2019
Top Opportunities in the New Era of Reverse Mortgages in Reverse Mortgage Daily Jan 2019
Forbes: Managing Costs and Credit of a Reverse Mortgage in Reverse Mortgage Daily Jan 2019
Abandoning The Wild West – How Financial Advisors are Evolving on Reverse Mortgages in Reverse Mortgage Daily Feb 2019
The Remaining Work to Connect Financial Advisors and Reverse Mortgages in Reverse Mortgage Daily Mar 2019
Reverse Mortgages Finally Make Headway with Financial Advisors in Forbes Jan 2019
How to Dodge a Market Dip That Threatens Your Retirement in New York Times Jan 2019
Retirement Expert Joins Call for Broker Dealers to Lift Reverse Mortgage Ban Curtis Cloke in Reverse Mortgage Daily Jun 2018
Reverse Mortgages are Gaining Acceptance Slowly by Shelley Giordano Aug 2018
Understanding Reverse Mortgages: An Interview with Shelley Giordano in Pension Section News in Forbes Feb 2017
The Quiet Comeback of Reverse Mortgages in The New York Times Jul 2016
Gray divorce on the rise with longevity trend by Mary Beth Franklin in InvestmentNews Aug 2016
Financial advisers need to prepare for the coming age wave by Mary Beth Franklin in InvestmentNews Oct 2016
Four reasons to consider a reverse mortgage when you retire in MarketWatch Oct 2016
Holistic Financial Health (cont.) – More on Reverse Mortgages in PeterNeuwirth.com
Could a Reverse Mortgage Save Your Retirement? in U.S. News & World Report Nov 2016
Putting it in reverse, advisors warm to reverse mortgages in CNBC Nov 2016
Feds fine reverse-mortgage lenders for false advertising in Salina Journal Dec 2016
UMD’s Smith School Announces Women’s Forum Speaker Rita Cheng in Robert H. Smith School of Business Jan 2017
Feature: The Financial Planning Mission in The Reverse Review Feb 2019
New Thinking About Reverse Mortgages in The Wall Street Journal Feb 2017
Data Key to Financial Planners’ Reverse Mortgage Perceptions in Reverse Mortgage Daily Feb 2017
New Products and Correspondent Investor; Can Conventional Lenders do Reverse Mortgages Correctly? in All Daily News Feb 2017
Pfau Advocates for Reverse Mortgages in Forbes in Reverse Mortgage Daily Feb 2017
Taking an early reverse mortgage could be beneficial in Mortgage Professional America Feb 2017
Rate Hike to Have Mixed Effect on Reverse Mortgages in Reverse Mortgage Daily Mar 2017
Reactions to Trump’s Budget in Reverse Mortgages and Beyond in Reverse Mortgage Daily Mar 2017
How will rising interest rates affect reverse mortgages? in Mortgage Professional America Mar 2017
‘Aging in America’ Report: On Money, Work and Finding Purpose in Next Avenue Mar 2017
Balancing Regulatory Risks and Rewards When Working with Financial Advisors in Reverse Mortgage Daily May 2017
Fed Raises Interest Rates for Second Time in 2017 in Reverse Mortgage Daily Jun 2017
Reverse Mortgage Professionals Correct the Record on N.Y. Times Piece in Reverse Mortgage Daily Jun 2017
How Tom Selleck helped a reverse mortgage lender rise to the top in The Orange County Register Aug 2017
Reverse Mortgages That Work in Kiplinger Oct 2017
AXA Establishes Relationship with Nationally Recognized Gerontologist on Aging Issues in Business Wire Sep 2017
AXA taps gerontologist to lead advisor LTC training in Financial Planning.com
AXA Adds Aging Expert to Educate Clients on LTC Needs Sandra Timmerman in Life Annuity Specialist Sep 2017
Should you use a reverse mortgage to delay taking Social Security? in USA Today
How to fund a Social Security delay in InvestmentNews Aug 2017
Reverse mortgages under fire again in InvestmentNews Sep 2017
Reverse mortgages: Are they right for your clients? in InvestmentNews Apr 2017
Consider Alternative Sources of Income for Your Retirement Conseuelo Mack at WealthTrack.com
Government Publications
The Nation’s Retirement System. A Comprehensive Re-evaluation Needed to Better Promote Future Retirement Security United States General Accountability Office Feb 2019
