Posts Tagged ‘reverse mortgages’
5 Myths About Reverse Mortgages
When seniors need to free up cash, they often look to their retirement plans. Many don’t even consider tapping into the value of their homes – a feat easily achieved through the use of a reverse mortgage. A reverse mortgage is a loan that allows homeowners aged 62 and older to convert part of the…
Read MoreShould You Retire On Your House?
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…
Read MoreCould a Reverse Mortgage save your Retirement?
As baby boomers retire at the rate of 10,000 per day, many of them are woefully underfunded for their future retirement needs. While reverse mortgages have gotten a bad rap over the last decade, the product has changed and become more regulated. Reverse mortgages are now gaining a lot of attention as a viable option…
Read MoreRetirement savings declined by an average of 10% in 2022
Last year, retirees lost an average of 10% of their accrued savings for retirement. The average retirement savings dropped from $191,659 in 2022 to $170,726 by the start of 2023, according to a survey conducted by Clever Real Estate. The survey also shows that the share of retirees who have nothing saved jumped from 30%…
Read MoreHow Reverse Mortgages Can Save Retirement
One of the biggest assets seniors have is their home, and in some situations those who are facing challenges in retirement may be able to live a bit more comfortably by tapping into their home equity, explains a recent article from U.S. News & World Report. Using a home as a retirement fund is one…
Read MoreHow To Stay Sharp As You Age
So you’ve noticed some changes in your thinking; you often misplace your keys or have trouble coming up with the right word in conversations. But how do you know when these changes are a normal part of getting older or if they might be pointing to a health problem such as dementia? How the Brain…
Read MoreThe Perks of Growing Older
Your senior years can be one of the most enjoyable and fulfilling times of your life. As the baby boomer generation gets older, the number of senior citizens in the United States is rapidly increasing, and seniors are finding ways to be more active and involved. There are more seniors today than ever before. In…
Read MoreShould You Retire On Your House?
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…
Read MoreHow Many Daily Steps Do You Need to Lose Weight?
It’s clear that staying active is key to being healthy, and fitness trackers and smartwatches have become popular tools for tracking activity. But just how many steps does someone need to take to lose weight? That’s not such a simple a question. While evidence is limited on exactly how many steps a day it takes…
Read MoreReverse mortgages an option for seniors feeling stuck in retirement
Reverse mortgages could be an option for seniors who feel like they’re “stuck” in retirement. However, they may not consider this option due to the hurdles that many assume will come with tapping home equity, according to retirement expert Mark Miller, who was featured in an article on MarketWatch. In the article, Miller names home…
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