The Pros and Cons to Downsizing During Retirement
Thursday, March 26, 2015

The Pros and Cons to Downsizing During Retirement

Moving can be a time consuming, expensive hassle. Kiplinger reports that a cross-country move for a three bedroom home can cost $8,0001 For retired people, downsizing to a smaller home may be a necessary move, but any move should be carefully considered to make sure the pros outweigh the cons. We have come up with […]

Retirement Income Insufficient in 49 out of 50 States
Wednesday, March 18, 2015

Retirement Income Insufficient in 49 out of 50 States

Interest.com1 analyzed data from the 2013 American Community Survey that was conducted using the Census Bureau data and found an upsetting statistic about American retirement incomes. “Nationally, the replacement income ratio for those 65 and older climbed to 59.6% in 2013, up from 57.4% in 2011.” According to interest.com, replacement income is the approximate amount […]

Over Half of US Households at Risk
Wednesday, March 11, 2015

Over Half of US Households at Risk

The National Retirement Risk Index (NRRI) shows the number of working-age households who are at risk of not being able to maintain their current lifestyle during retirement based on the Federal Reserve’s 2013 Survey of Consumer Finances.1 According to the 2013 index, 52% of working-age households are at risk for not having enough saved for […]

Comparing Reverse Mortgage Loans and Researching the Best Deal
Wednesday, March 4, 2015

Comparing Reverse Mortgage Loans and Researching the Best Deal

If you are thinking about getting a reverse mortgage loan, there are several factors to consider to ensure sure you are getting the best deal. You should learn as much as possible about reverse mortgages in general and research potential lenders. The mortgage insurance premium should be the same among all lenders, but origination fees, […]

Is Working Longer Really a Solution to a Stable Retirement?
Wednesday, February 25, 2015

Is Working Longer Really a Solution to a Stable Retirement?

Many Americans have grand plans for their retirement. Some plan to travel and have more time to focus on family or hobbies or to relax after many years of hard work. But it is important for workers who are facing retirement to create a plan. What will they do immediately after retirement? What will they […]

Is a Reverse Mortgage a Good Idea for Me?
Tuesday, December 23, 2014

Is a Reverse Mortgage a Good Idea for Me?

If you’re at least 62 years old and have significant equity in your home, you might be considering a reverse mortgage loan. You may be wondering if a reverse mortgage loan is the best option for you. There are some questions you may want to discuss with a trusted friend, family member or financial adviser […]

Should Women Consider Reverse Mortgage As An Option
Friday, November 14, 2014

Should Women Consider Reverse Mortgage As An Option

If you are a single woman, you may have greater “longevity risk” than the average couple or a single man1 Women who are widowed, divorced or never married may have greater financial planning needs as women tend to live longer than men and generally have less money to do so. In fact, according to Elder Issues […]

Can a Reverse Mortgage Help Deal With Debt During Retirement
Tuesday, October 28, 2014

Can a Reverse Mortgage Help Deal With Debt During Retirement

One of the keys to a happy retirement includes not having retirement debt. However, a number of older homeowners may feel financially unprepared when entering retirement. Seniors typically choose to live off their savings with some help from Social Security but for those who do not have substantial savings, facing retirement can be frightening. Fortunately, […]

Things to Consider When Getting a Reverse Mortgage
Friday, October 17, 2014

Things to Consider When Getting a Reverse Mortgage

A reverse mortgage loan can be a great financial tool for homeowners age 62 and older who have built up significant equity in their home. Borrowers who take a reverse mortgage loan may receive payments in the form of a lump sum, monthly payments or a line of credit, and they can use the funds […]

Tips When Considering a Reverse Mortgage Loan
Monday, September 15, 2014

Tips When Considering a Reverse Mortgage Loan

Reverse mortgage loans allow homeowners age 62+, access the equity in their homes while still retaining the title of the home. Borrowers can use the extra income to pay for health care expenses, home repairs or remodels, travel or just to make ends meet through retirement. Homeowners must have significant equity in their home and […]