Posts Tagged ‘Home Equity Conversion Mortgage’
Forbes: Forward vs. Reverse Mortgages in Retirement
Using a reverse mortgage to refinance an existing mortgage will create more financial flexibility for fixed-income retirees, according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a member of the Funding Longevity Task Force, in a new piece at Forbes. “The general idea is that a reverse…
Read MoreTake a New View of Aging
The way you view aging can affect how well you manage stress. Older people who see aging negatively have stronger (negative) emotional reactions to day-to-day stresses, while such events have little effect on the moods of adults who are more positive about getting older. Their sunny outlook acts as a buffer against little annoyances. That’s…
Read MoreMost U.S. Middle-Class Seniors Will Lack Funds for Assisted Living by 2029
A decade from now, more than half of middle-class seniors in the United States will be unable to afford needed housing and personal assistance, a new study contends. The number of middle-income people over 75 will nearly double to 14 million by 2029, up from about 8 million today, projections show. About 54% of these…
Read MoreReverse Mortgages Can Be a Positive Retirement Planning Tool
The perception of reverse mortgages as a “last resort” loan to fund retirement is diminishing, but persistent. Still, reverse mortgages are increasingly being seen as a viable financial tool for eligible borrowers even though prospective users should be aware of high upfront costs, according to a new piece at Dow Jones financial news subsidiary Barron’s.…
Read MoreAnger a Threat to Health in Old Age
The loss of loved ones can hit the elderly particularly hard, but a new study suggests it’s anger, and not sadness, that may damage the aging body more. Anger can increase inflammation, which is linked with conditions such as heart disease, cancer and arthritis, the researchers said. “As most people age, they simply cannot do…
Read MoreGoing Broke Remains a Top Concern in Retirement
Running out of money in retirement remains a primary concern for those planning their transition out of work, with other major concerns being maintaining their lifestyle and the rising costs of healthcare expenses. This is according to the American Institute of CPAs (AICPA) and its Personal Financial Planning Trends Survey. Exhausting their money is the…
Read MoreMorning Exercise Kick-Starts Seniors’ Brains
Want a quick brain boost? A morning session of exercise and short walks throughout the day provide a number of brain benefits for older adults, a new study says. The findings show that people should avoid uninterrupted sitting to maintain good mental function throughout the day. The study also indicates that moderate-intensity exercise such as…
Read MoreHow Retirement Can Change Your Identity
Studies show that people who are able to afford a full retirement – and who will also be healthy enough to enjoy it – are generally much happier in retirement since their working life is behind them, and they can instead spend their time doing the things they enjoy doing. However, when a critical component…
Read MoreEven a Little More Exercise Might Help Your Brain Stay Young
Alzheimer’s and dementia are not an inevitable part of normal aging, and a little exercise might help keep them at bay, a new study suggests. The researchers found that every hour of light exercise on top of recommended weekly levels of more intense activity reduced brain aging by about a year. “This study emphasizes the…
Read MoreHow a Reverse Mortgage Can Reduce Retirement Risks
Retirement can come with a host of unanticipated risks, but a reverse mortgage can serve as a tool to manage those risks when used responsibly. This is according to writers Julie Iannuzzi and Justin Ho in a new article posted to TheStreet. “To be sure, no one product or strategy can manage or mitigate all…
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