Posts Tagged ‘reverse mortgages’
People want to retire early, but aren’t saving enough to do it: survey
Shortfalls in retirement funding are a common source of discussion for people currently at or nearing their exits from the workforce, but new data suggests that those with a longer career runway in front of them are developing potentially unrealistic expectations about what their own retirements will look like. As life expectancy increases, the World…
Read MoreSmoking Linked to Frailty in Seniors
Seniors who smoke may be more likely to become frail, a new British study suggests. Researchers tracked more than 2,500 people 60 and older in England and found that current smoking boosted that risk by about 60 percent. The scientists determined that the participants were frail if they had at least three of five conditions:…
Read More9 Reasons To Consider A Reverse Mortgage
Increasing numbers of homeowners around the US are using Reverse Mortgage Loans to boost their income in retirement. With a Reverse Mortgage you could take advantage of your property value now, without having to move or downsize. If you are over 62, this is why you should consider a Reverse Mortgage. 1) A Home Equity…
Read MoreMore Than Half of Americans Will Need Nursing Home Care: Study
That eclipses the 35 percent estimate used by the U.S. Department of Health and Human Services, the researchers added. “Lifetime use of nursing homes is considerably greater than previously thought, mostly due to an increase in short stays of less than three weeks,” said lead researcher Michael Hurd. He is director of the RAND Center…
Read MoreFeeling Taxed to the Max? Check Out These 9 States Boasting Zero Income Taxes
If you’re tired of paying Uncle Sam at the federal level and writing a check to your state every year as well, then let’s look at where you won’t be taxed on your income (but you might have to pay extra bucks in other taxes or home prices). Alaska Sitka, AK (Getty Images) …
Read MoreReverse Mortgages Could Hold Key to Secure Retirement
Joining the chorus of popular media outlets that have covered home equity’s role in retirement, USA Today ran a lengthy piece this week about ways homeowners can tap into their wealth — including with a Home Equity Conversion Mortgage. Quoting experts such as reverse mortgage researcher Wade Pfau and wealth advisor Randy Bruns, the national…
Read More6 Simple Ways For Older People To Deal With Chronic Pain
Chronic pain is an unfortunate reality for many elderly people. As we age, our bodies become more fragile. Osteoarthritic, musculoskeletal, neuropathic, and chronic joint pain are all common and difficult to treat. These issues make everyday activities incredibly challenging, often causing sufferers to withdraw into a sedentary lifestyle. While these issues cannot be completely cured,…
Read More5 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…
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