Wade Pfau: Rising rates change the math on retirement income planning

Wade Pfau, professor of retirement income at The American College of Financial Services and the nation's preeminent expert on reverse mortgages, says that retirees are facing a delicate balancing act right now, worrying about sequence-of-return risk -- which is heightened during times of bear markets and high volatility -- but also how to fund retirement. Reverse mortgages can be a key tool in times like this, but Pfau says they become less effective as interest rates rise; coupled with wildly fluctuating housing values, it makes it crucial that retirement savers understand the math they are facing. Also on the show, Tom Lydon of VettaFi looks to oil and gas exploration for his "ETF of the Week," Mark Hamrick, senior economic analyst at Bankrate.com, weighs in on the Federal Reserve's interest rate hike on Wednesday and what its statements about the future portend for the market, and Ken Willner of TextNow.com discusses their recent survey on how consumers are dealing with inflation and what they are sacrificing -- or are willing to give up -- to stay on budget now.