Barry H. Sacks, PhD, JD, Certified Specialist, Taxation Law

Barry H. Sacks, PhD, JD, Certified Specialist, Taxation Law

Barry H. Sacks, PhD, JD

Barry Sacks, Ph.D. earned his Ph.D. in semi-conductor physics from M.I.T., and then taught at U.C. Berkeley. He earned a J.D. Harvard Law School, and is a Certified Specialist, Taxation Law, from the California Board of Legal Specialization.  Barry spent 35 years as an ERISA attorney, specializing in qualified retirement plans. He then 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 special services to tax professionals in the area of “Offers in Compromise” for retirees living on 401(k) accounts or other securities portfolios.

Barry and his brother, Stephen Sacks, Ph.D. shared their analysis of the reverse mortgage credit line in the February, 2012 Journal of Financial Planning. They revealed that if a reverse mortgage credit line was drawn on before drawing on investments when values had declined, a retiree’s residual net worth (portfolio plus home equity) after 30 years is about twice as likely to be greater than using home equity as a last resort. Evensky, Salter and Pfieffer then published their paper in the Journal of Financial Planning the following year on how to increase the sustainable withdrawal rate using the reverse mortgage line of credit.