Housing Crisis for Seniors

A Housing Crisis for Seniors Last fall, I had to take the car keys away from an elderly relative who lives alone. This intervention should have happened much earlier, but when the day came it was one of the more emotionally wrenching things I’ve ever done. “Don’t take my car away,” he pleaded. “Without my…

Paying for long-term care As we learned in last week’s, the cost of custodial care in Aiken is about $5,000 per month for a private room in a nice nursing home and between $20-$25 a day for in-home care. If you and your spouse, or you alone if you are single, have determined that you…

Good Reasons for Taking Early Social Security Benefits Are Few. Forbes Retirement Taking Social Security benefits as early as possible, at age 62, is not very beneficial for an American retiree concerned with maximizing their post-working income. This is according to Steve Vernon, FSA and consulting research scholar in the financial security division at Stanford…

Outrageous Things People With Dementia Say and How to Respond I have been though this myself, so print this off as a great guide becuase you will experience most of these phases. Dementia can cause people to say and do some pretty odd things. Family caregivers may be caught off-guard at first, but as they…

Beginners Guide: What is Equity Release? As we grow older and settle into life, we build up a net worth to be used to help us get through our golden years and hopefully leave a little something extra for our children on the side. Using your financial resources effectively isn’t the simplest of tasks, but…

11 Numbers That Will Terrify You Into Saving For Retirement Right This Minute. Every day you delay will hurt you in the end. It can be tough to save for retirement when it is still decades away. It’s apparently even tough for older workers who are on the verge of retirement. Living expenses can eat…

Low mortgage interest rates stimulate homeowners to refinance The usual reasons to refinance a home mortgage loan are to reduce the monthly payment or to raise cash. The third option, which is underappreciated, is to shorten the period of indebtedness. The third option is seldom used. Therefore, many homeowners are refinancing for the wrong reason.…

More than 1 in 5 say retirement savings are worse now than before the Great Recession The BoomerFOXBusiness Record upswing for US economy Former Reagan economist Art Laffer on the U.S. economy’s record expansion. As America marks the 10th anniversary of the end of the Great Recession in June, a new Bankrate surveyOpens a New…

Data Confirms Reverse Mortgage Borrowers Have Little Wealth Outside Home According to recent research data, despite some of today’s reverse mortgage efforts targeted toward a population that is using home equity as a comprehensive planning tool, the borrower demographic of the past still holds true: borrowers of Home Equity Conversion Mortgages (HECMs) are made up…

Nursing home care costs increasing faster than other medical services, study finds By James LeggatePublished June 20, 2019Personal FinanceFOXBusiness Costs of nursing home care have generally risen faster than the costs of other services, even in the medical field, according to a new study. Researchers from Georgetown University Medical Center analyzed nursing home price data from eight states…