Could 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 More]

Retirement 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 More]

Should 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 More]

As more seniors live alone, retirement finances could be challenging

Generation Xers and baby boomers who live alone in retirement may face unique financial challenges compared to other seniors, according to a column in The Street by Center for Financial Planning (CFP) partner Sandra D. Adams. After a New York Times story was published on the challenges of seniors living alone, Adams looked at data… [Read More]

Seniors, Make This Winter an Active & Healthy One

Winter may feel like a time for hibernation, but it’s important for seniors to safely keep up their hobbies and physical activity in the cold weather. “It’s important to get outside as much as possible, whether it’s temperate or even if it’s colder, as long as it’s safe to do so,” said Dr. Angela Catic,… [Read More]

Americans are worried about outliving retirement savings, new report shows

While a majority of American workers believe that they’re building a sufficient retirement nest egg, more than one in three workers (37%) report that they’ve had to tap into their retirement accounts — including hardship withdrawals — to make ends meet, according to a recent report from the Transamerica Center for Retirement Studies. And, retirement… [Read More]

More Steps Per Day, Lowered Odds for Diabetes in Women

Move your body every day to guard against type 2 diabetes. That’s the upshot of a new study that analyzed Fitbit data and type 2 diabetes rates from participants in a nationwide research program, reporting that women who logged more steps each day had a lower risk of diabetes. “We investigated the relationship between physical… [Read More]

As more seniors age alone, could reverse mortgages become key?

According to recent statistics, a higher number of American seniors are aging without a living spouse or biological children, raising questions about who will care for them if serious health issues or financial problems occur later in life. Issues associated with “kinless” seniors were highlighted this week in a New York Times article. According to… [Read More]

Holiday Kitchen Accident? Here’s How to Treat Minor Cuts, Burns

From burns to cuts, kitchen accidents happen, and they may be more likely as you cook for holiday gatherings. Treating those injuries quickly and effectively can help begin the healing process and may reduce scarring, according to a skin expert at the American Academy of Dermatology. “Whenever your skin is injured — whether by accident… [Read More]