November 2002: On episode 2 of Money Mountaineering with Actuary Peter Neuwirth, meet Barry H. Sacks, PhD, JD, Reverse Mortgage/Retirement Portfolio Longevity Expert

Listen to the podcast on Inkandescent Radio From reverse mortgages to leaving a legacy, learn how to generate lifetime income

October 2022: Pete starts of this month's fascinating interview with Barry Sacks with a discussion about his decision to leave his tenure track position as a Berkeley physics professor in Quantum Mechanics to become an ERISA lawyer. Don't miss it!

October 2022: A Note from Actuary Peter Neuwirth — I invite you to tune in for this month’s episode of my podcast and video show, Money Mountaineering, where for 30 minutes, we learn from experts how to plan for your best financial future.

Today’s Topic: From reverse mortgages to leaving a legacy, learn how to generate lifetime income

Meet today’s guest: Barry H. Sacks Ph.D. earned his Ph.D. in semiconductor physics from M.I.T., then taught at U.C. Berkeley. He earned a J.D. from Harvard Law School and is a Certified Specialist in Taxation Law from the California Board of Legal Specialization. After spending 35 years as an ERISA attorney specializing in qualified retirement plans, he used his breadth of skills to discover a role for a reverse mortgage to help make a retirement portfolio last longer. Barry now has a law practice providing exceptional services to tax professionals in the area of “Offers in Compromise” for retirees living on 401(k) accounts or securities portfolios.

With his brother, Professor Stephen Sacks, Barry published the pioneering research paper modeling a strategy that uses reverse mortgage credit lines to mitigate the effects of adverse investment returns in retirement accounts (Journal of Financial Planning, February 2012). A sequel to this paper expanding the range of applications of the strategy was co-authored by Peter Neuwirth, F.S.A., and Stephen Sacks. Read all about it. While developing his model for reverse mortgages in retirement income planning,

Barry became aware of the particular needs of retirees and soon-to-be retirees in the process of divorce. These needs are particularly concerning in cases where the retirement savings are divided between the parties or where one of the parties has received most of the retirement savings but not much of the home equity value: Read more here. Barry is a frequent speaker on those subjects, live and in webinars, to financial planning groups, estate planning and trust attorneys’ and accountants’ groups, reverse mortgage lenders’ groups, and graduate tax seminars at law and business schools. He lives in San Francisco and Sonoma, except when traveling faraway exotic places.

In this month’s interview, Pete asks Barry:

Stay tuned for our conversation — and for next month’s guest: Reverse mortgage specialist Mary Jo Lafaye, creator of A longtime colleague from Mutual of Omaha, Mary Jo, works closely with Barry and me on these topics and figures prominently in this discussion. We look forward to sharing all of this information with our audience.

Learn more about actuary and author Peter Neuwirth: