Can a Reverse Mortgage Replace the Once Commonplace Pension?
Tuesday, February 9, 2016

Can a Reverse Mortgage Replace the Once Commonplace Pension?

Historically, retirement income for most Americans generally came from three sources:  social security, pension and retirement savings.  This has often been referred to as the 3-legged stool.  However, now companies are shifting away from offering pensions, also known as defined benefits, to offering defined contribution plans or 401(k)’s.  The once 3-legged stool is now becoming […]

Be Aware of These Common Scams
Tuesday, January 26, 2016

Be Aware of These Common Scams

Anyone can fall victim to fraud, but seniors are particularly vulnerable.  Seniors are often on a fixed income, so losing money at the hands of a scam artist can hit older Americans the hardest. According to a recent AARP article, there were 750 documented data breaches in 2015, which is roughly the same as in […]

What You Need to Know When Looking For a Financial Advisor
Tuesday, January 12, 2016

What You Need to Know When Looking For a Financial Advisor

Finding a trustworthy financial advisor can be a tricky process.  According to an AARP article, “More than 400,000 people in the U.S. call themselves financial advisers today, using any number of so-called professional designations to sell financial products and give advice.  Some of these credentials – there are 157 out there – don’t require much […]

Boomers May Be Running Short on Retirement Funds
Tuesday, December 29, 2015

Boomers May Be Running Short on Retirement Funds

Many baby boomers have accumulated more wealth than their parents’ generation, and possibly even more than their children as well.  However, accessing that wealth is where the challenge comes in.  According to a recent article, this is due to a couple reasons.  Many boomers have been more active users of debt; the median equity for […]

What You Should Know If You’re Downsizing
Wednesday, December 16, 2015

What You Should Know If You’re Downsizing

If you’re like most people, you’ll likely move multiple times during your lifetime.  In fact, the U.S. Census Bureau estimates that the average person will move a total of 11.7 times over the course of their life for various reasons such as job relocation, getting married or retirement.  According to a recent article, downsizing has […]

Don’t Forget About This Cost in Retirement
Tuesday, December 1, 2015

Don’t Forget About This Cost in Retirement

When we talk about the biggest expenses in retirement, most of us think of healthcare and mortgage payments.  However, transportation is another significant cost that doesn’t typically get as much attention.  A 2014 Bureau of Labor Statistics Consumer Expenditure Survey found that transportation is the second highest expenditure for seniors age 65 and older, behind […]

Reverse Mortgages Changing the Retirement Planning Paradigm
Tuesday, November 17, 2015

Reverse Mortgages Changing the Retirement Planning Paradigm

Reverse mortgages have been around since the 1980’s.  While these products aren’t new per se, they are being looked at in a new way.  “…They are becoming a “disruptive” way to leveraging home equity, says one reverse mortgage researcher.”  In a recent webinar, Barry H. Sacks, a San Francisco tax attorney states, “In the spirit […]

HECM versus a HELOC – Which Product Makes Sense for You?
Tuesday, November 3, 2015

HECM versus a HELOC – Which Product Makes Sense for You?

Are you looking for a product that offers a line of credit?  You may want to consider a HECM reverse mortgage or a HELOC.  While these two products share many similarities, there are also some key differences to be aware of.  However, before we delve into the details, let’s start with a brief definition. HECM […]

Strategies for Reducing Expenses in Retirement
Wednesday, October 28, 2015

Strategies for Reducing Expenses in Retirement

Are you running short on funds for retirement?  Or maybe you have enough saved to cover basic expenses, but are having difficulty managing unexpected costs such as home or car repairs.  If you find yourself in either of these situations, it may be time to think about ways you can reduce your expenses.  Below are […]

Could A Reverse Mortgage Help You?
Wednesday, October 21, 2015

Could A Reverse Mortgage Help You?

With pensions giving way to 401(k) plans, the future of social security being uncertain and people living longer, the retirement landscape seems to be changing.  “According to the Employee Benefit Research Institute (EBRI), Americans are vastly unprepared for retirement to the tune of roughly $4.13 trillion.”1  For many retirees, social security supplies a majority of […]