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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…

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.…

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

Why Home Equity Matters Why Home Equity Matters. Home equity—the current value of your home minus your mortgage balance—matters because it helps you build wealth. When you have equity in your home, it’s a resource you can borrow against to improve your property or pay down other high-interest debts. However, it’s also volatile because home…

Housing Experts: Reverse Mortgages Well Suited to Address Aging in Place Issues The Reverse mortgage program can be a very valuable tool for addressing issues related to aging in place in the United States, as well as circumventing some problems related to the spread of COVID-19 in senior housing and nursing facilities. However, some issues…

Partial Retirement Should be Embraced Through Reverse Mortgages Written by Jack Guttentag- The Mortgage Professor. Partial Retirement: An Inevitable Trend That Needs Support. People are living longer but they are not increasing the accumulated wealth needed to support a longer life of retirement. On the contrary, the swing from defined benefit to defined contribution pension…

Retirees Make the Most of Your Home Equity A home equity loan or home equity line of credit may be perfect for your retirement finances. But don’t delay; a fee increase is coming. A debt-free retirement has been the ideal scenario for so long that older adults often overlook a valuable financial resource: their home.…

Why is it always a goal to put aging loved ones on Medicaid? I’m asking this question, because I constantly see articles and receive advice from family/financial/ estate planning about getting Medicaid coverage, and how to “protect” the aging’s assets so they can qualify for Medicaid. Here’s my question, if your loved one spent their…

Why a Reverse Mortgage is worth considering more now than ever as a retirement planning tool. During our COVID-19 lockdown, my wife returned to an old hobby and set up a jigsaw puzzle on our dining table. Four-hundred and ninety-nine pieces and quite a few hours later, she learned she was missing something. Disappointing, right? We…

With Adult Children Home, Now’s the Time: Talk About Your Money. Riding out the pandemic with family presents the perfect chance to lay it all out: priorities, account balances, end-of-life directives. For far too many families, financial planning is akin to scheduling dental surgery. The prospect of pain and discomfort prompts many to put it…