Posts Tagged ‘reverse mortgages’
Here’s a Part of Aging That Really Stinks
Unpleasant phantom odors haunt many older Americans, a new study finds. Of more than 7,400 people over age 40 who took part in a federal health survey, 6.5 percent said they experience nasty odors — such as burning hair or the reek of an ashtray — from nowhere. That’s 1 in 15 people. As folks…
Read MoreBankruptcies Skyrocket Among Seniors Amid Soaring Health Costs
The steady erosion of Medicare and Social Security benefits, the shift away from defined benefit pensions, and rising health care costs have all been blamed for seniors’ financial woes over the last decade. Now a group of researchers has the bankruptcy data to prove it. Since 1991, the rate of Americans aged 65 to 74…
Read More5 Nevers with a Home Equity Conversion Mortgage
In an attempt to dispel misunderstandings regarding Home Equity Conversion Mortgages (HECMs), we in the industry have coined what are called the “5 Nevers”. They are: Never Give up Title to the Home Home Equity Conversion Mortgages are just that – a mortgage and just like a conventional loan the borrower retains title to the…
Read MoreMany Americans With Dementia Don’t Know They Have It
Many older Americans with dementia don’t know they have the disease, a new study indicates. A review of data from 585 Medicare recipients with probable dementia found nearly 6 out of 10 were either undiagnosed or unaware of their diagnosis. Those who had less than a high school education, who went to medical visits alone…
Read MoreBoomers, Older Seniors Still Recovering from the Great Recession
The Great Recession may have officially ended in June 2009, but baby boomers and the “Greatest Generation” are still recovering, according to a new study from the Pew Research Center. Members of Generation X — defined by Pew as those born between 1966 and 1980 — were hit the hardest but have seen the greatest…
Read MoreThe Rise of the 55+ Single Women Home Buyer
Single women over 55 continue to be a growing segment of the homebuyer population, according to research presented in a recent Wall Street Journal article. Citing research form Ralph McLaughlin, the founder and chief economist at Veritas Urbis Economics in Alameda, Calif., the article states that since 1981 this female population has been the fastest…
Read More5 Ways to Push Yourself to Stay Fit
Continually progressing keeps exercise interesting and further increases your fitness level. Here are five fun ideas to keep challenging yourself. Identify an area of weakness, like a muscle group you want to tone or a fitness skill you’d like to have. You might assess your level of each of the key components of fitness —…
Read MoreFive Year Retirement Plan Should Consider Reverse Mortgage
A recent New York Times article offers a concise 5-year countdown-to-retirement plan, with the final year of the timeline being the time to –cautiously – consider a reverse mortgage. Offered as a way to make ends meet if you’re planning to stay in your current home, reverse mortgages are a “fourth- or fifth-tier line of…
Read MoreHere are The Best Places to Retire in 2018
Anyone planning to spend their golden years near Mount Rushmore is in luck as South Dakota was ranked the best state to retire, according to a new report by Bankrate.com. Based on seven categories, South Dakota took the lead followed by Utah, Idaho, New Hampshire and Florida. Categories examined were: cost of living (weighted at…
Read MoreSeniors, Feeling Young Is a State of Mind
For seniors who feel years younger than they really are, a new study suggests it might not be their imagination. “We found that people who feel younger have the structural characteristics of a younger brain,” explained lead author Jeanyung Chey. She is a professor in the department of psychology & program for brain sciences at…
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