Baby Boomers Have Less Wealth

Baby Boomers Have Less Wealth Than Prior Classes The most recent cohort of Americans who are part of the “baby boomer” generation – typically classified as people born between 1946 and 1964 – are less wealthy when compared to older baby boomers, putting them at greater risk of financial instability in retirement. This is according…

Managing unexpected expenses, an emergency fund. You might expect plenty of things in retirement – spending time with family and friends, traveling, focusing on your health wellness. For many years I have been working with financial advisors so homeowners can use the Reverse Mortgage with a credit line and spend from it instead of thier…

Our Semi-Retired Columnist Isn’t Worried About the Market Crash. Here’s Why. Eleven years ago, I watched in horror as my 401(k) account melted away during the financial crisis and bear market. Now, semi-retired, I have a good bit more money in stocks, and I haven’t looked at my account in a couple of weeks. I…

Senior Homeowners can eliminate current mortgage burden. Survey: 77% of homeowners say their mortgage negatively impacts savings. Homeowners across America love their homes, and they’re continuing to spend up for them, even at the cost of saving for retirement, according to a new Bankrate survey. The vast majority of homeowners with a mortgage – 77…

How Much Can Retirees Spend On March 11, 2020? It May Not Be What You Think Turbulent market volatility and declining interest rates are leaving many people wondering about the viability of their retirement plans. Given where markets are today, will you have enough to meet your retirement spending goals? Many financial planner have and…

Reverse Mortgages and the Sandwich Generation Talking about older peoples’ eating habits but the harsh reality of balancing the financial, physical, and emotional support of three generations. Two types of generational “sandwiches”. Young-Middle-Old: The typical generational sandwich is the middle-aged person struggling to financially support their children (often grown adults) AND aging parents. This…

CNBC: Reverse Mortgages Can Buffer Coronavirus’s Economic Shock COVID-19, the so-called coronavirus which has sparked concerns of a global epidemic after spreading into multiple countries, has introduced additional volatility to the U.S. stock market as investors raise concerns over the effects the spread of the virus might have on the American economy. For retirees, there…

The Retirement Panic Attack You Never Saw Coming At a party, my friend was asked how his recent retirement is going. He lamented, “I’ve had some rough nights and more than one panic attack.” I found his reply surprising since we had talked earlier about his financial situation, and he had more than adequate retirement…

Reverse Mortgages Can Provide Retirement Income Tapping home equity is often an overlooked possible source of income for those with fixed resources, and considering the home equity that seniors have access to, reverse mortgage products should be considered when coming up with a retirement funding plan. This is according to Stephen Resch, VP of retirement…

Alternatives to Long-Term Care Insurance Anticipating long-term care needs is an important part of retirement planning, as long-term care can quickly eat into your savings. The average yearly cost of nursing home care in a semi-private room was $90,155 in 2019, according to Genworth Financial, rising to $102,200 for a private room. Long-term care insurance…