Posts Tagged ‘Home Equity Conversion Mortgage’
Reverse Mortgages Can Help Seniors Avoid ‘Pre-retirement Crisis’
In trying to shore up finances as a senior prepares to enter retirement, one option that can help a senior to avoid a financial crisis in the period preceding retirement can be a reverse mortgage. This is according to Mike Piershale, president of Piershale Financial Group in Barrington, Ill. in a new article at Kiplinger.…
Read MoreGive Seniors a Memory Check at Annual Checkups, Experts Say
Many older people show evidence of mental decline, called mild cognitive impairment, but doctors often miss this sometimes early sign of dementia and Alzheimer’s disease. To help doctors get a better handle on their patients’ mental state, the American Academy of Neurology (AAN) is urging physicians to assess patients aged 65 and older at least…
Read MoreSupporting Adult Children Can Be ‘Financial Shock’ in Retirement
Parents are increasingly supporting their children financially for longer periods of time, which can serve to be a major financial disruption for seniors as they enter retirement. According to 2016 data from the Pew Research Center, living at home with parents had grown in commonality to the point that it was more likely than living…
Read MoreNearly Half of Baby Boomers Don’t Have the Cash to Age in Place
Nearly 50 percent of baby boomers reported that they don’t have a sufficient amount of savings to age in place in their own homes. This is according to a joint survey conducted by website Next For Me and roommate matching service Silvernest. The survey, which was conducted with Next for Me and Silvernest subscribers in…
Read MoreReverse Mortgages Can Provide Retirement ‘Safety Net’
A reverse mortgage can be a viable financial product for seniors looking to protect their retirement assets from a volatile influencer like the stock market, while also reducing the risk of a retiree exhausting all of their financial resources in retirement. This is according to an article on funding longevity recently published in Kiplinger. “Reverse…
Read MoreYour Personality as a Teen May Predict Your Risk of Dementia
Could your personality as a teen forecast your risk for dementia a half-century later? Very possibly, say researchers, who found that dementia risk is lower among seniors who were calm, mature and energetic high schoolers. “Being calm and mature as teen were each associated with roughly a 10% reduction in adult dementia risk,” said study…
Read MoreRising Senior Debt Levels are Concerning Researchers
While more seniors today are embracing more active lifestyles and generally working longer, academics conducting research into the lives of modern older Americans are also recording an increasing trend in seniors’ embrace of debt, which has both financial consequences while also raising mental health concerns. “The median total consumer debt of households headed by someone…
Read MoreNon-emergency 911 Calls Highlight Aging in Place Struggles
An influx of non-emergency 911 calls across the state of Tennessee is straining the resources of area first-responders, showing that there’s progress to be made in terms of allowing more seniors to age in place. According to a report in the Chattanooga Times Free Press, Tennessee State Rep. Mike Carter (R) says he wants to…
Read MoreFour-Legged Friends Help Buffer Loss of a Spouse
The loss of a loved one is one of life’s most stressful events. But new research suggests that having a furry loved one still at home may help ease the pain. Investigators looked at 437 older adults, some of whom lost a spouse, either through divorce or death. They found that having a cat or…
Read MoreSurvey: Older Adults Struggle with Housing Costs at All Income Levels
Nearly 1 in 3 adults over the age of 45 have struggled to keep up with housing costs over the last 12 months. While these costs predictably hit those with lower incomes harder, the issue is present across all income levels and retirement timelines. This is according to a new survey conducted by real estate…
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