Professor and reverse-mortgage advocate Wade Pfau explained home equity conversion mortgages to Forbes readers this week, noting the loans’ steady transition from options of last resort to a potential retirement-planning cornerstone. Pfau, a professor of retirement income at the American College and the director of retirement research for McLean Asset Management, explains how taking out…

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There has been a sharp rise in the number of American seniors who take three or more medications that affect their brains, a new study reveals. The study looked at seniors’ use of opioid painkillers, antidepressants, tranquilizers and antipsychotic drugs. A review of U.S. Centers for Disease Control and Prevention data showed that the use…

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Many American households will face a significant retirement financing gap unless they save more, invest more efficiently, retire later, and/or distribute their retirement assets more efficiently. Yet the pain of such difficult behavioral changes might be mitigated by better use of an asset that almost 80 percent of retirees have: the family home. The Reverse…

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Rising interest rates could make reverse-mortgage lines of credit more appealing to younger retirees. A reverse mortgage is a type of loan taken against equity in a home, available to borrowers who are at least 62. It requires no monthly payments, with interest charges instead added to the loan balance and paid only after the…

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As we age, it naturally becomes harder to regulate our body temperature. This is a normal part of getting older for everyone that can cause problems in both the dog days of summer and in frosty winter climes. If you have an elderly loved one who you’re worried about as the weather gets colder, read…

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Exercise has a very important role in the general health and the quality of life of everyone, but especially in seniors. Seniors who walk tend to look younger, sleep more soundly and have fewer visits to the doctor. Walking for 30 to 60 minutes four to six days a week will help improve osteoarthritis and…

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For older homeowners worried about falling short on their retirement savings, home equity can provide a much needed boost if they play their cards right using a reverse mortgage. The strategy involves obtaining a Home Equity Conversion Mortgage (HECM) line of credit at the earliest eligible, and then letting the loan balance in the credit…

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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…

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Memory training is far less effective in older adults who are obese than those who aren’t, a new study finds. The research included about 2,800 people, average age 74, who were followed for more than 10 years. Obese participants gained only one-third of the benefit of memory training compared with those who weren’t obese, the…

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Once you’ve done your research on reverse mortgages and gained a more complete understanding of the product, the next step is to decide if a reverse mortgage is right for your situation. If you’re eligible (a homeowner 62 years of age or older with equity in your principal residence), this may be a quick decision…

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