The full impact of the COVID-19 pandemic on the senior population is becoming clearer. According to recent estimates reported by the Washington Post, nearly 9 in 10 deaths attributable to COVID-19 were people aged 65 or older. Another pandemic-related point of clarity is related to older Americans who reside in nursing homes. Based on new… [Read More]
Seniors still making mortgage payments should consider HECM
Roughly 60% of homeowners at or approaching the age of 62 continue to make forward mortgage payments,a sizable expense as many people during that phase of life are transitioning out of their jobs and into a fixed-income environment. A reverse mortgage’s elimination of a monthly mortgage payment may provide needed financial relief for these seniors,… [Read More]
Alzheimer’s Experts Offer Tips for ‘Dementia-Friendly’ Homes
While most homes aren’t designed to be dementia-friendly, they can easily be adapted, according to a national Alzheimer’s disease group. “Virtually every aspect of a home can affect the person’s quality of life,” said Charles Fuschillo Jr., president and CEO of the Alzheimer’s Foundation of America (AFA). “From purchasing higher-tech appliances all the way down… [Read More]
Reverse mortgages have ‘reemerged’ to help pay for long-term care
Reverse mortgage loan proceeds can be used in a number of ways by borrowers who want to solve an issue with their cash flow. However, it’s becoming more and more common for borrowers to use the proceeds to pay for long-term care (LTC), like a nursing home, according to a recent article published in U.S…. [Read More]
Reverse mortgage worth mentioning in housing conversations with seniors
Conversations with older adults related to the housing needs of later life can be sensitive and difficult to navigate, but offering a range of options about what directions that seniors can take their housing futures into can be beneficial. One such option could include a reverse mortgage, according to a new column published by AARP…. [Read More]
Women have grown increasingly well-prepared for retirement, data suggests
Title IX of the Education Amendments of 1972 codified the prohibition of discrimination on the basis of sex, which includes pregnancy, sexual orientation and gender identity. In the 50 years since the passage of Title IX, women have made visible and demonstrable progress in the realm of retirement planning, according to a new research brief… [Read More]
Seniors and Exercise
How can seniors benefit from aerobic exercise? Like virtue, exercise is its own reward — and it can help you feel as strong as you did when John F. Kennedy was president. Lifting weights is an excellent way to roll back the years, but the cornerstone of most senior fitness programs is aerobic exercise. Anything… [Read More]
Motley Fool: Home Equity a ‘Surprising’ Source of Retirement Income
While Americans have a multitude of potential options and avenues they can use to fund their life after completing a career, many Americans — including current seniors — often find themselves unprepared for retirement. This is why it may be necessary to seek out less traditional sources of retirement funding, and one such potential source… [Read More]
Forbes: Reverse Mortgages Can Help Seniors Pay Down Debt in Retirement
One often overlooked tactic that seniors can employ when seeking to pay down outstanding debt in retirement is the strategic use of a reverse mortgage loan, one of several options that an older American can use when examining their finances during their post-working years. This is according to contributor Bob Sullivan and editor John Schmidt… [Read More]
Half of U.S. Households Face Retirement Risk
Based on the recent release of the Federal Reserve’s 2019 Survey of Consumer Finances (SCF), as much as half of today’s current American households are at serious risk of not having enough resources in retirement. Some of these risks can be mitigated with financial products including reverse mortgages, but more action is needed to fix… [Read More]
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