A recent study by TransUnion observed the changing trends of U.S. borrowers. It showed that older borrowers have higher loan balances today than they did in 20051. The study focused on consumer wallet share: the types and amounts of loans that people need and have at different life stages. The main timeframes the study focuses on are before the recession in 2005, during the recession in 2009, and...

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 an extensive list of considerations all retirees should take into account before...

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 of money you’ll need...

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 a comfortable retirement. People facing retirement may...

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, interest rates, closing costs and servicing fees can vary...