Reverse Mortgages Can Provide Retirement Income

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…

Five Terrible Money Mistakes That’ll Wreck Your Retirement No one wants a lean, downgraded lifestyle in retirement. Stay off that path by avoiding these money no-nos. Money mistakes are like termites. They can work quietly behind the scenes, gnawing away at your wealth. You might even avoid any major consequences for years — right up…

Aging Media Network Publishes New Report Detailing Senior Housing Industry Outlook for 2020 Last year the industry began to look closely at the shortage of middle market senior housing available to aging consumers. In our survey, we sought to find out what actions industry stakeholders are likely to take in response to this growing issue…

The Homebuyer Scene. A Little Schooling Goes A Long Way for Homebuyers Homebuyer Education Courses Train Buyers to Find Affordable Loans, Too Obtaining an affordable mortgage is an art, not a science – especially for first-time buyers – and is just as important as finding an affordable house. Fortunately, homebuyer education – learning how to…

3 Dangers of Owning a Home in Retirement There are certain pitfalls you might encounter as a senior homeowner. If you’ve owned a home all your life, then you might assume that it makes sense to continue doing so in retirement. After all, you’re used to your living space, and if you’re lucky, your property…

Who benefits from higher home prices with a reverse mortgage? Q. When there is a reverse mortgage, what happens if the value of the home goes up? Does the owner get the difference between the mortgage amount and the higher home value, or does the mortgage company get it?— Homeowner A. Let’s go over how…

401-k Plans Have Reached Their Expiration Date The 401-k plans are as good as they can be under the current framework–and that’s not good enough. Revolutionary Thoughts. This article has been a long time coming. My views on 401-k have evolved over the years, but until now, always incrementally. My columns advocated this improvement, that change.…

Reverse Mortgage Concepts That Are Often Misunderstood Calling “penalties” on potential issues of misunderstanding that can arise between loan officers and borrowers in reverse mortgage transactions, Dan Hultquist, VP of organizational development and Jim McMinn, lead sales trainer of learning and development at Finance of America Reverse (FAR) used their time presenting at the National…

How to Create a Retirement Paycheck Creating a reliable retirement income stream is complex but worth it. These tips will get you on the right path. Your expenses don’t end when your paychecks do, but creating a reliable income stream in retirement can be tricky. The right choices can result in sustainable income for the…