Posts Tagged ‘long-term care’
MSN Money: Reverse Mortgage Facts for Seniors to Keep in Mind
With a wide range of information about retirement financing options available to seniors who are becoming increasingly more tech-savvy with each passing year, it can be difficult to sort out some of the specifically-relevant details that an older American should keep in mind if they’re contemplating taking out a reverse mortgage loan to supplement retirement…
Read MoreAverage U.S. mortgage rate drops to 2.87%
The average U.S. mortgage rate for a 30-year fixed loan is 2.87% this week, dropping one basis point from last week’s 2.88%, Freddie Mac said in a report on Thursday. The rate is now one basis point from an all-time low set in mid-September. The average fixed rate for a 15-year mortgage was 2.37%, rising…
Read MoreForbes: How Reverse Mortgages Work, Who They’re Suited For
A reverse mortgage can be thought of as similar to a conventional mortgage, but where the “roles are switched,” according to a new column at Forbes. They’re best suited for seniors encountering mounting costs late in life and those without heirs, and are not well-suited for those who hope to leave their home to an…
Read MoreSeniors in Better Savings Position Than Younger Generations
Consumers at or over the age of 62 reported less difficulty in paying for a bill or expense, though other factors including household income and whether or not they live in metropolitan areas also affected the standing of a person’s savings. This is according to the “Making Ends Meet Survey” conducted by the Consumer Financial…
Read MoreRetirement Crisis Deepens as Pandemic Drives Unemployment
The effects of the COVID-19 coronavirus pandemic on unemployment in America have led to most recent estimates placing the national unemployment rate at 11.1% as of June 2020, up from 4% one year prior according to the Bureau of Labor Statistics. Unemployment that has been driven by the pandemic’s effect on the economy is deepening…
Read MoreU.S. News: Reverse Mortgage Can Provide Path to Paying for In-Home Care
Because of the new realities that have afflicted the American healthcare system and its capacity to provide care during the COVID-19 coronavirus pandemic, many seniors may be looking at options beyond nursing homes or care facilities out of a desire to remain as far away from the risk of infection as possible. Seniors in general…
Read MoreGet Moving, Seniors: It’s Good For Your Brain
Want to give your brain a boost? Go for a swim, take a walk, or spin your partner on the living room floor. A new study finds that aerobic exercise can improve older adults’ thinking and memory, even if they’re longtime couch potatoes. This type of exercise increases blood flow to the brain and counters…
Read MoreForbes: Seniors Not Preparing Enough for Healthcare Costs in Retirement
Health expenses in retirement remain a major influence on the ability for seniors to maintain stability in their post-working lives, but remain surprisingly overlooked as seniors plan out their retirement finances. This is according to financial planner Eric Brotman in a new column at Forbes. In citing a recent study on healthcare retirement saving patterns…
Read MoreHow Pets Can Be True Lifesavers for Seniors
Having a furry, fluffy or feathered friend can have a profound effect on seniors’ mental health, possibly even helping prevent some suicides, new research suggests. In a group of 35 older people who were pet owners, more than one-third said they were “actively suicidal” or “significantly traumatized,” but their pets gave them a reason to…
Read MoreSeniors Face Serious Spending Challenges in First 5 Years of Retirement
In the first five years of retirement, American seniors are likely to face significant financial challenges in making ends meet. According to a survey of Americans who retired between 1992 and 2014 conducted by the Consumer Financial Protection Bureau (CFPB), over half (51%) had income, savings or other non-housing assets allowed them to maintain the…
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