birmingham reverse mortgage Archives | Page 2 of 7

Who’s Ready for a 24% Cut to Social Security Benefits? Without significant changes, big benefit cuts await seniors in 15 years. The Social Security program has been providing a financial foundation for our nation’s retired workforce for more than 80 years. Of today’s nearly 65 million beneficiaries, 46 million of them are retirees, many of…

How To Include Home Equity In Your Retirement Plan With The Bucketing Approach Do you have a vacation fund? A pizza party jar at work or home? A bank account reserved for a new house? People set aside money for certain goals or expenses, sometimes even dedicating a specific bank account or credit card for…

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.…

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…

Life Without Retirement Savings Recently, The Atlantic published a tremendously powerful article by Alana Semuels entitled This Is What Life Without Retirement Savings Looks Like, which is well worth reading for anyone who is hedging their bets on the question of whether to save for retirement at all or whether to save more for retirement. It opens with the story…

Why more and more financial planners are recommending to their clients a Reverse Mortgage. The proper name for this product has always been Home Equity Conversion Mortgage or HECM for short. The HECM can be used as a defensive play protecting managed assets or to pay off a mortgage. For instance, a client of mine…

12 Retirement Questions I can’t tell you what is will cost to retire? It is usually done with a specialized program and with a financial planner. But I found this interesting article that will help us all. What’s their RQ? One of the steps in assessing whether a reverse mortgage might be right for a…

New HECM Head (Senior Advisor to the Department of HUD) Hopes to ‘Move Needle’ in New Role The new Senior Advisor to the Department of Housing and Urban Development (HUD) Deputy Assistant Secretary for Single Family Programs, Dr. Joshua Miller, introduced himself Monday to the reverse mortgage industry by giving a Home Equity Conversion Mortgage…

Barron’s: Reverse Mortgages Can Be a Positive Retirement Planning Tool The perception of reverse mortgages as a “last resort” loan to fund retirement is diminishing, but persistent. Still, reverse mortgages are increasingly being seen as a viable financial tool for eligible borrowers even though prospective users should be aware of high upfront costs, according to…

Financial advisers share what near-retirees need to know before retiring Retirement is a monumental transition in a person’s life, and it shouldn’t be taken lightly. Every aspect of life is affected by the decision to retire, including relationships, health and wellness, and of course finances. Couples in particular are learning how to share their hopes…