Reverse Mortgages as Financial Planning Tools

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1 Idaho NEWS News September 2006 IDAHO CHAPTER 2006 Board of Directors President Robb Schober Beneficial Financial Group Programs / Sponsors Larry Halvorson, CLU, ChFC Massachusetts Mutual Life Insurance Co Membership Director David Turner, CFP US Bank Private Client Group Secretary Treasurer Raoul Allen, CFP Berkeley, Inc Board Members Raleigh Vachek, CFP Rathbone McReynolds & Daly Of Wachovia Securities Reverse Mortgages as Financial Planning Tools Presented by Larry K. Charitan, MBA Reverse Mortgage Consultant for Wells Fargo Home Mortgage Tuesday, September 19, 2006 The Arid Club 1137 W River St, Boise, Idaho 12:00 1:30 PM Local Members Free Non-Members - $25 First time visitors may join us for a complimentary lunch Please RSVP to Lacy by Friday the 15 th at or hazels2@netzero.net Thank you to our September Sponsor: ase RSVP to Lacy at by Friday, November 12 Chapter Administrator Lacy Hazel hazels2@netzero.net To receive your newsletter via , Please notify Lacy at or

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3 Bio of Larry K. Charitan, MBA A leader in his profession, Larry Charitan is a reverse mortgage consultant with Wells Fargo Home Mortgage with 20 years of loan origination experience combined with 30 years of industry related experience that includes: consumer, commercial, construction and residential lending. An Idaho native, originally from Coeur d Alene, Larry holds an undergraduate degree in Management Information Systems and a Masters of Business Administration emphasizing Business and Economics from Boise State University. Larry has come home to where his heart is, working with senior clients and the financial professionals who represent them. My varied background and experience allow me to look at the reverse mortgage process from a holistic point of view and provide a new level of service that is demanded by my home loan savvy and cost aware senior citizen customers. Upcoming Events: Social Event: TBA October 17: FPA Idaho lunch meeting. 12-1:30pm at the Arid Club in Boise. Topic TBA. January: CFP Certification courses to begin. For registration information, please contact Lacy Hazel at New Members Happy Anniversary! Adam Bentley 23 Years 17 Years Silver State Financial Services, Inc. Mark Roby, CFP Richard Cooke, ChFC Roby Financial Group Financial Planning Serv. William Waggoner, CFP D.A. Davidson & Co. 8 Years David Wilhite, CFP

4 Message From the President Dear FPA Members and Future Members: I hope everyone has had a great summer break and I look forward to seeing our members, new members, and potential members at our upcoming September meeting. The Roundtable committee has again begun planning for our upcoming annual January event. If you have a speaker, sponsor, or vendor that would be interested please pass along the information. As we start out our meetings for this second half of the year I have been watching with interest the great uncertainty of our economic situation. As noted in the last several weeks the housing boom is certainly beginning to stall and will have a great impact on our economic outlook. Mixed with inflation due to rising energy costs and savings rates at a record low can the consumer continue to economically push us forward and grow? Most of the recent comments I have heard say that businesses will be the next area of focus and with their high amounts of cash from the past several years will begin spending us into further prosperity. I continually see the words Soft and Hard as they relate to the potential landing we are about to experience in the financial markets and nothing about soaring and flying high. Personally I see a market like environment very close to the one in Here we are 30 years later and some of the same issues facing the world then are again facing us now. The reason for this short discussion on the economy is that I would like to take some time out at our next meeting for your interaction and feedback as it relates to our current economic situation and future. Will we actually get to stop talking about real estate? As advisors what type of advice will we be providing our clients in the near future about their current investments and asset allocation models? I feel this is truly part of the value added being a member of and a very important part of belonging to the FPA. Once again I look forward to seeing you in September. Sincerely, Robb Schober, 2006 President

5 John Bellamy, AAPA Vice President of Mrktng & Annuity Marketing Director 707 E. United Heritage Ct. Meridian, ID (208) Sponsors 6003 Overland Rd Ste 102 Boise, ID Phone or Fax or Larry Halvorson, III 877 West Main St, Ste 1101 CLU, ChFC, RHU, AEP Boise, ID Brokerage Director Financial Planning Association of Idaho 5702 E Powerline Rd Nampa, Idaho 83687