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Articles filed under Guttentag, Jack

Low mortgage interest rates stimulate homeowners to refinance

By Jack Guttentag
Jun 21, 2019 6:00 AM - The usual reasons to refinance a home mortgage loan are to reduce the monthly payment or to raise cash. The third option, which is underappreciated, is to shorten the period of indebtedness. The third option is seldom used.
How President Trump could make it easier to shop mortgages

By Jack Guttentag
Mar 16, 2019 6:00 AM - This article is part of a series on financial regulation that can be implemented by executive action. he change proposed here, that borrowers acquire ownership of the appraisal they pay for, would allow them to shop multiple lenders effectively.
Another desirable feature of a retirement plan: a set -aside

By Jack Guttentag
Feb 23, 2019 6:00 AM - How do you avoid leaving more or less money in your estate than you would choose if you knew in advance the day of your death? To meet this retirement objective, a retirement plan can include a set-aside, which is an amount targeted for the retiree's estate.
Most retirees should have an annuity in their retirement plan

By Jack Guttentag
Feb 16, 2019 6:00 AM - A retirement plan has two major objectives. One is to provide assurance that you will not run out of money at an advanced age. Because only an annuity pays you until you die, with few exceptions, every retirement plan should contain an annuity.
You'll want to pay more toward your mortgage, not more often

By Jack Guttentag
Feb 9, 2019 6:00 AM - Will a weekly, bimonthly or biweekly payment mortgage really save you money?
The science and art of paying off your mortgage early

By Jack Guttentag
Jan 26, 2019 6:00 AM - Most of my work on paying off a mortgage early has focused on the science of the subject, which is nothing more than the math needed to trace the process through which a mortgage balance (the amount still owed) declines over time. Yet there is also an art involved in paying off a mortgage early.
How an annuity improves a retirement plan

By Jack Guttentag
Jan 12, 2019 6:00 AM - "Your article on annuities did not demonstrate that an annuity always improves a retirement plan."
Does an annuity belong in your retirement plan?

By Jack Guttentag
Jan 5, 2019 6:00 AM - An annuity is a stream of monthly income guaranteed for life, starting immediately or deferred to a specified time in the future, in exchange for an upfront lump sum payment. For example, a woman of 65 investing $500,000 can receive about $2,700 a month starting immediately, $3,900 starting in five years, or $5,900 starting in 10 years. The five and 10 years are the deferment periods, which can be as long as 25 years.
HECMs can reduce retirement income instability

By Jack Guttentag
Dec 29, 2018 6:00 AM - The HECM reverse mortgage is an ingeniously designed instrument with multiple possible uses, but its full potential has yet to be realized. A major reason is that it has been treated as a stand-alone, rather than as part of an integrated retirement plan.
A pension system that needs fixing

By Jack Guttentag
Dec 8, 2018 6:00 AM - The private pension system in the U.S. is in transition from defined benefit plans to defined contribution plans. On balance, this may be a step in the wrong direction. The jury is still out, however, and much will depend on how defined contribution plans evolve in the future.

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