Healthcare costs in the United States are amongst the highest costs in the world.  In 2021, U.S. healthcare spending reached $4.3 trillion, which averages to about $12,900 per person.1 You can expect healthcare to be a significant expense during retirement.  If you’re planning for or near retirement, you may need to adjust your goals when saving for out-of-pocket medical expenses because your...

Most older adults would like to age in place, but what if their current home isn’t their ideal retirement home?  Whether they are looking to right size into a home where they can enjoy living in an older adult community that requires lower maintenance, live closer to family and friends, or want to lower their cost of living during retirement, a Home Equity Conversion Mortgage (HECM) may be able...

A reverse mortgage loan can offer older adult homeowners financial security by allowing them to access a portion of their home equity. With a reverse mortgage, older adults may be able to eliminate their monthly mortgage payments,1 pay off other debts,2 and have extra cash flow.  Despite the benefits of a reverse mortgage loan, there are a few pitfalls that can occur when borrowers fail to...

Have you planned for your long-term care needs? With 10,000 Americans turning 65 every day1, there will come a point when they will not only need medical and preventive care but may also require ongoing care in retirement from a home healthcare provider. The costs of long-term care needs can add up quickly and put a large dent into your savings if you’re not prepared. Research shows that 56% of...

Are you interested in a reverse mortgage but not sure how you can benefit?  If you are a homeowner, 62 years and older, and have sufficient equity in your home, you may qualify for a Home Equity Conversion Mortgage (HECM).  A HECM, also known as a reverse mortgage loan, allows you to access your home’s equity in cash. You no longer have a monthly mortgage payment1 If you have a traditional...