Posts Tagged ‘retire’
Forbes: Home Equity Can Help Solve the Retirement Crisis
As the United States continues to endure a retirement crisis that has only been exacerbated by the COVID-19 coronavirus pandemic, the home is an asset with continuously understated potential to assist with cash flow for retirees. This is especially true considering that the home is likely to be the largest asset that the majority of…
Read MoreWashington Post: Reverse Mortgage a Possible Option for ‘Underwater’ Homeowner
For a senior struggling with their home due to their mortgage being “underwater” — defined as the mortgage balance on a home exceeding its fair market value — a reverse mortgage could present a potentially viable option to unlock a home’s equity compared with other available options. This is according to reporters Ilyce Glink and…
Read MoreFor Many Seniors, the Home is ‘Unexpected’ Retirement Funding Source
For seniors across America, considering how to fund retirement if existing assets are insufficient can be an exercise in creative thinking resulting in expanding the canvas of thinking to encompass a broader range of potential options. For many seniors who are also homeowners, thinking of the home as a potential source of retirement funding is…
Read MoreDoes Hard Work Help Preserve the Brain?
Physical activity is known to help prevent dementia and disease, but it’s possible that the kind you do makes a difference. A new study found that hard physical work not only doesn’t lower the risk of dementia, it increases the risk of developing the disease. Researchers found that people who do hard physical work have…
Read MoreReverse Mortgage LOC Can Help Seniors Endure Financial Turbulence
For those Americans over the age of 62 who have recently seen the values of their retirement accounts shaken by the ongoing effects of the COVID-19 coronavirus pandemic, the ability for a reverse mortgage to take some pressure off of individuals and their accounts should not be overlooked. This is according to a column appearing…
Read MoreForbes: How Reverse Mortgages Can Affect Taxes in Retirement
For seniors who may feel squeezed by the necessity of paying taxes in retirement on a fixed income, there are a number of ways in which a senior might be able to reduce their tax burdens in retirement. One of the possible methods can include a reverse mortgage, according to financial planner Erik Carter in…
Read MoreMSN 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 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 More