Posted - May 8, 2014
The reverse mortgage has come a long way from its inception in 1961. Through all these years, there have been many misconceptions about what the product is and does. The truth is, in present day, the reverse mortgage is an ethical product with the simple intention to help seniors age in their homes.
Most negativity about reverse mortgages stemmed from certain practices in the 1980s, when the product was not yet fully monitored by the U.S. Department of Housing and Urban Development (HUD).Read More...
Posted - April 10, 2014
Retirement means something completely different for most people now than it did one or two decades ago. Instead of people aiming to retire to a warm destination to play golf all day, retirement now means starting a new business or pursuing a passion that there wasn’t time for previously due to work and other obligations. What are some great career options for those who are retired?
Start a Writing Career
It is never too late to begin a writing career. Regardless of whether someone has been
Posted - December 16, 2013
For seniors in retirement who need assisted care, most do not want to be away from home for long periods of time. When searching for alternatives to nursing homes or other care facilities, in-home health care often emerges as the preferred option. Home health care in retirement is defined as the health care service that is given to you in the comfort of your home rather than in a facility. It is usually medical in nature and involves the expertise of health professionals like nurses andRead More...
Posted - June 11, 2013
According to an analysis performed by Interest.com using data from 2011 U.S. Census Bureau, the annual median income of our nation’s seniors is approximately $35k, less than 60% of those ages 45-64. CNNMoney reports that Nevada and Hawaii are the only two states where senior income meets the recommended 70% replacement of pre-retirement income.
4. New Mexico
1. New Hampshire
2. New Jersey
3. Rhode Island
Posted - May 20, 2013
Business Insider debunks 13 common beliefs people have on saving for their retirement. A few that made the list includes assuming you can get by in retirement with less income, the ability to postpone retirement and continuing to work until your early 70’s, and relying on Medicare for long-term health care needs.
Read the fullRead More...
Posted - March 27, 2013
NerdWallet, a financial advice website, compiled the list by analyzing the 50 most popular U.S. cities on factors considered most important to seniors when looking for a place to retire.
Each city was given a score based on 6 categories: cost of living, cost of assisted living, affordable healthcare, existing senior population and social life, warm weather, and walkability. With 16% of the city’s population being over 62 years of age, Miami, FL is the sunny city that wins as the mostRead More...
Posted - September 18, 2012
New retirement communities, continuing care retirement communities or C.C.R.C., are popping up across the country.
A C.C.R.C is a continuing care program without walls. Members pay an entry fee ($20,000 to $70,000) and monthly fees ($250 to $800) and receive a guarantee of lifelong care. The catch, a good catch, is that these programs are helping people stay healthy and age in place for as long as possible.
Most of the programs cover the cost of in-home care, e.g., care professionals whoRead More...
Posted - June 13, 2012
Dee Lee, Certified Financial Planner, explains how reverse mortgages are becoming a better financial product causing them to become more popular. There are pros and cons to a reverse mortgage and they are not for everyone, but those people the product is suitable for are staying in their homes and are financially more independent.
A reverse mortgage can provide the cash some seniors need to maintain their lifestyle or make repairs/modifications to their home so they can age in place. ThereRead More...
Posted - June 1, 2012
In a recent research brief released by the Center for Retirement Research at Boston College, the research team posits that those nearing retirement should worry less about asset allocations and look to other more effective tools including reverse mortgage loans.
Investing money wisely is obviously very important, but the fact is that many Americans have little savings. The typical household approaching retirement has less than $100,000 in 401(k) and other financial assets, which means thatRead More...