6 Ways Seniors Can Tap Home Equity To Supplement Income
Seniors looking to supplement their income may be able to tap their home equity to supplement their lifestyle or ease financial worries during retirement Pros & cons of tapping home equity Traditionally, seniors don’t tap into their home equity for retirement income. “I believe many people in their 70s and 80s look at it as…
Read More3 things retirees should know about reverse mortgage rates now
There are a few big things retirees should know about reverse mortgage rates in today’s market. The Federal Reserve announced its first rate cut of 2025 yesterday, lowering its benchmark rate by a quarter of a percentage point. After holding steady for months in the face of stubborn inflation, the Fed is now signaling that…
Read MoreMortgage rates have been coming down and are likely to fall further
But that’s a sign of a weakening economy.Housingby Mitchell HartmanSaveShare Unlike the price of a lot of things in this economy, the price of borrowing money to buy a house has been going down: The average 30-year fixed-rate mortgage fell to 6.5% last week, according to Freddie Mac. Mortgage Daily News reported that this week, a top-tier mortgage…
Read MoreI’m 90 and work at a convenience store. I make $14.90 an hour, and money is tight, but I hope to retire.
This as-told-to essay is based on a conversation with Vince Scidone, a 90-year-old former carpenter in Oklahoma. Scidone works part-time as a cook at a convenience store chain. He returned to work after his wife, Deborah, got sick, and they needed additional income to support them in their retirement. Business Insider has verified Scidone’s income…
Read MoreUnderstanding the 60% Reverse Mortgage Rule: 5 Key Takeaways. Yahoo.com and Realtor.com
The Realtor.com Team.Mon, August 25, 2025 at 1:18 PM CDT1 min read When considering a reverse mortgage, understanding the 60% rule is crucial for older homeowners. This rule, which limits the initial access to home equity, is designed to ensure financial stability over time by preventing borrowers from depleting their funds too quickly. The rule…
Read MoreReverse mortgage pros and cons experts say to know in today’s economy. Moneywatch. CBS.
Reverse mortgages can be a useful tool for seniors, but there are a few things experts say you should know now.While inflation is down from a year ago, it has recently started to creep back upward again. When you throw in high interest rates and declining wage growth, many Americans are feeling the financial burn.…
Read MoreThe 60% reverse mortgage rule: What it is and how it impacts borrowers
The 60% reverse mortgage rule: What it is and how it impacts borrowers. Taking out a reverse mortgage can make sense in retirement, but there are rules that impact the process. As with most Americans, older homeowners have been facing issues with rising living costs and mounting debt. As a result, tapping into home equity…
Read MoreThere are multiple ways to supplement Social Security income that seniors may want to investigate right now.
3 ways seniors can supplement their Social Security now. Moneywatch There are multiple ways to supplement Social Security income that seniors may want to investigate right now. Recent news that Social Security’s insolvency could hit a year earlier than initially expected wasn’t exactly welcome by seniors reliant upon the funds the service provides. Combined with…
Read More6 Key Signs You’ll Run Out of Retirement Funds Too Early
The thought of running out of money in retirement keeps plenty of Americans awake at night. In a survey of financial planners by the Financial Planning Association and the Journal of Financial Planning, over 47 % of respondents rated running out of money as their clients’ greatest retirement fear, with another 22% saying it was…
Read MoreHere are the 6 levels of wealth for retirement-age Americans — are you at the top or bottom of the pyramida.
If you’re planning your own retirement, you probably have a retirement savings goal in mind. Americans believe the “magic number” they need to retire comfortably is $1.26 million, according to a survey by Northwestern Mutual. Comparing your number with the actual net worth of retirement age American seniors should give you an idea of how…
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