Rent or Buy Your Retirement Home

Rent or Buy Your Retirement Home? If you’re thinking about renting your next home instead of buying, consider the pros and cons of the decision. The housing market is hot, and it’s a great time to sell your home. Still, if you’re thinking about renting your next one, consider the tradeoffs. Renting temporarily is fine…

Fighting inflation with a reverse mortgage. What retirees need to know. As inflation concerns grow, many retirees worry about their purchasing power. Retirees may consider a reverse mortgage for inflation protection, financial experts say. Opening a reverse mortgage line of credit early and allowing it to grow may offer a buffer for future retirement expenses.…

Reverse Mortgages: 10 Things You Must Know Get a large wad of cash! Never make a mortgage payment again! Stay in your home as long as you want! Sounds like a great deal, right? Well, for someolder homeowners, a reverse mortgage can be. For others, it’s more perilous than promising. If you’re considering a reverse…

30% of Seniors Plan to Work Past 70 or Never Retire I was reading a survey the other day that indicates that an increasing share of older Americans are planning to work far beyond a conventional retirement age. The COVID-19 coronavirus crisis and its economic impacts have not spared the senior demographic in the United States.…

Seniors want to move on, but ‘stuck’ in home after not qualifying for new mortgage If your income is solely Social Security, it’s tough to qualify for a mortgage of any reasonable size, even at today’s extremely low interest rates. Q: There are thousands of seniors like us who are “stuck” in their homes because…

10 Things You Must Know Reverse mortgages can be complicated Get a large wad of cash! Never make a mortgage payment again! Stay in your home as long as you want! Sounds like a great deal, right? Well, for some older homeowners, a reverse mortgage can be. For others, it’s more perilous than promising.…

How a Cash Stash Can Help Retirees Keep Peace of Mind, if Not Portfolio When the market crashed last spring amid coronavirus fears, retiree Tim McDermott didn’t fret. The 58-year-old, who retired in November 2019 after running a derivatives exchange, keeps more than 40% of his assets in cash and near-cash investments. “We could probably…

Retirement Insecurity 2021 A new report finds that across party lines, Americans are worried about concerns about their financial security in retirement. The vast majority of Democrats (70 percent), Independents (70 percent) and Republicans (62 percent) agree that the nation faces a retirement crisis. There also is bi-partisan agreement that the average worker cannot save…

Reverse Mortgages Are An Excellent Hedge Against Property Value Risk – Especially Now …

Yes, You Can Use Reverse Mortgages as a Retirement Planning Tool. But Beware the Risks. Reverse mortgages were once anathema to savvy financial retirement planning. These loans—which let homeowners over age 62 pull equity out of their homes while still living in them—were viewed as a costly last resort for covering retirement shortfalls. That thinking…