Posts Tagged ‘income’
Harvard Study: Home Equity Will Be Critical for Aging Americans
Households with housing cost burdens have reached an all-time high, and many households led by those in the senior age demographic have failed to recover from the financial crisis that began in 2008. This has exacerbated the need for affordable and accessible housing and in-home care, and the ability to build home equity will be…
Read MoreHow to Clean Up After Thanksgiving in Half the Time
All those hours spent prepping and cooking in the kitchen in the days leading up to Thanksgiving yield a mouthwatering holiday feast of roast turkey with stuffing, mountains of mashed potatoes, cranberry sauce, and pumpkin pie. But the last thing you want weighing on your mind after you sit down to eat Thanksgiving dinner are…
Read MoreReverse Mortgages an Option to Pay for Long-Term Care
The often unpredictable but increasingly likely expense that awaits people of retirement age is oriented around long-term care, and financial advisors are turning to an abundance of new strategies to help their clients pay for it. One such option according to an advisor is a reverse mortgage, who offered the idea in a new story…
Read MoreHow the Gig Economy Fails Senior Workers Facing Retirement
As an increasing share of older Americans are turning toward other kinds of emerging jobs in order to make ends meet in retirement, many older workers are turning to jobs that don’t carry any benefits. The result of this is that fewer older workers are in more “traditional” jobs that carry benefits, while many other…
Read MoreReverse 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…
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