Social Security benefits

Social Security Recipients Could Get a Massive 11% Raise Next Year Surging inflation could lead to the biggest boost to monthly Social Security benefits since 1981. The 2023 Social Security cost-of-living adjustment, or COLA, would be 10.8% if inflation continues at its current pace, according to a new prediction from the non-profit Committee for a…

Reverse Mortgage Information for 2022 The reverse mortgage is a fantastic product, but it’s not the right solution for everybody. Is it right (or wrong) for you? In this article, we’ll cover key reverse mortgage information for 2022 to help you decide if a reverse mortgage is the right solution for you. There is quite a…

What Is a Reverse Mortgage, and How Does It Work? Money.com What Is a Reverse Mortgage? A reverse mortgage is a type of home loan for older homeowners. Unlike traditional mortgages, they don’t require homeowners to make monthly payments. Instead, the borrower receives payment from the lender — either monthly, via a line of credit…

Should you use a reverse mortgage to pay for long-term care? Someone turning 65 has nearly a 7-in-10 chance of needing long-term care in the future, according to the Department of Health and Human Services, and many don’t have the savings to manage the cost of assisted living. But they may have a mortgage-free home…

How Does a Reverse Mortgage Work. For many retirees, their largest asset is their home — but they might not be ready to sell to cash in on their equity. That’s where a reverse mortgage can come into play. A reverse mortgage allows people aged 62 and older to continue to live in and own…

5 Best Password Managers of 2022 In the world right now with cyber attacks this was something I wanted to share. My Facebook account recently was hacked. Using a good password manager can simplify your online life in many ways. These apps can store login credentials securely and generate strong passwords for you. And the…

Reverse Mortgages and retirement planning. Understanding how reverse mortgages can add value in retirement planning requires an understanding about the peculiarities of sequence-of-return risk that the reverse mortgage can help to manage. When combined with a long retirement, sequence-of-return risk can lead to some potentially unanticipated outcomes regarding what types of strategies may work to…

Mortgage Tips for Retirees Sure, your grandma and grandpa may have stayed put once they left the workforce, but you likely have other plans. Now more than ever, it seems retirees are on the move—and buying new homes. About 18% of homebuyers were younger baby boomers (aged 56 to 65) in 2021. And older boomers…

Jaw-Dropping Stats About the State of Retirement in America Ruslan Guzov / Shutterstock.com Many Americans spend their lives working hard and dreaming of the day they can finally retire. But planning for retirement requires more than dreaming — it means being strategic and focused on saving money, among other things. The average age of retirement for Americans…

How a Reverse Mortgage Might Help Widowed Retirees I found this article through one of my lenders and thought I would share it. The death of a loved one can be a turbulent time for widowed retirees, both emotionally and financially. For widowed retirees facing financial uncertainty following a spouse’s passing, a reverse mortgage can…