Florida Again Tops List of Best Places to Retire in the U.S.
Florida topped out as the No. 1 state to retire in WalletHub’s annual ranking for 2018. The Sunshine State also held the No. 1 spot in 2017. The “2018’s Best & Worst States to Retire” report compared all 50 U.S. states across 41 indicators, spanning the cost of in-home care, life expectancy and cost of…
Read MoreAnnual Flu Shots Help Keep Seniors Out of the Hospital
The current flu season is shaping up to be a nasty one, but there’s good news for American seniors who’ve gotten their flu shot. New research shows that for older adults, faithfully getting the vaccine each year greatly reduces the odds of catching a flu so severe that it lands you in the hospital. Researchers…
Read MoreHalf of U.S. Households Won’t Have Sufficient Income to Retire
An ongoing analysis of Americans’ retirement readiness showed a slight improvement in 2016, but the results still reveal that half will find themselves short of their golden-year goals. The National Retirement Risk Index (NRRI) dropped from 52% to 50% between 2013 and 2016, according to the most recent calculation from the Center for Retirement Research…
Read MoreSeniors’ Home Equity Keeps Rising, Hits $6.5 Trillion
American homeowners aged 62 and older controlled $6.5 trillion in home equity during the third quarter of 2017, according to the most recent estimate from the National Reverse Mortgage Lenders Association. That’s a jump of 1.9%, or $121 billion, from last quarter, NRMLA and data analytics firm RiskSpan reported. “Housing wealth continues to be a…
Read MoreWhen a $1 million retirement nest egg isn’t enough
A $1 million nest egg has long been considered the benchmark for a secure retirement. Sadly, these days, it’s only a fraction of what you will really need. For instance, a 67-year-old baby boomer retiring now with $1 million in the bank will generate $40,000 to live on in the first year, adjusted for inflation…
Read MoreGetting Active Could Help Boost Memory
Physical activity is good for the body and the brain, but what about people with thinking and memory difficulties? A new recommendation from the American Academy of Neurology suggests that exercise is indeed helpful for people with mild cognitive impairment. The condition, in which thinking and memory skills deteriorate, often occurs as people age. Mild…
Read MoreShould Retirees Buy a Home With a Reverse Mortgage?
How do you buy a home after retiring? If you have one that’s paid for, you could sell and use the proceeds to buy another. You could raid your savings if you have enough. Or you could get a mortgage if you have enough income and good credit. But even if that’s possible, who wants…
Read MoreTips for Holiday Trips With Seniors
If you plan to travel with an elderly relative this holiday season, don’t leave things to chance, an expert on geriatric medicine says. “Simply traveling long-distance to visit relatives can become increasingly stressful as individuals age,” said Dr. Angela Catic, an assistant professor at Baylor College of Medicine’s Center on Aging in Houston. While traveling,…
Read MoreFrom all of us at Mortgage Mike,
Nearly One-Fifth of Seniors Don’t Know What a Reverse Mortgage Is
Just under 20% of seniors who responded to a recent survey were unaware of reverse mortgages — despite showing an overwhelming desire to stay in their homes and potentially make renovations into old age. Among homeowners aged 60 to 70, 44% said they would keep a mortgage through retirement, according to a study on retirement…
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