News, Information and Guidance

Unique Ways To Utilize a Reverse Mortgage

The government-insured reverse mortgage product can be used in a variety of ways to help seniors age in place during retirement. Here are three little-known ways that seniors can use reverse mortgages: Purchase a New Primary Residence (HECM For Purchase) – One of the best features of the HECM program is the ability to purchase a…

Reverse Mortgage vs. HELOC

Reverse Mortgage or HELOC – Which is Best?  If you’ve decided to tap into your home equity during retirement, there are a few different ways to go about doing this. Most likely, your options will come down to a Reverse Mortgage or a home equity line of credit, or “HELOC”. Reverse Mortgage vs. HELOC A…

Reverse Mortgage Misconceptions

Over time, many people have developed misconceptions about reverse mortgages based on inaccurate media coverage. The truth is reverse mortgages have never been safer and they’re a viable retirement option when they are understood. Here are several common misconceptions about reverse mortgages as well as the truths behind them. Misconception: The bank (or government) owns your…

Things You Need to Know About Estate Planning

The Necessity of Estate Planning Squaredaway.com, December 3, 2013 Let’s face it, estate planning is not a fun concept to ponder.  Writing up a will is having to pick and choose who in your life is going to get your various assets, and it can’t always be done in perfect impartiality for all of your…

How to Increase Your Social Security Benefits

Benefits of Waiting to Claim Your Social Security The New York Times, November 15th, 2013 For many who are over the age of 62, collecting your Social Security benefits is a rite-of-passage of sorts, the payoff of your years of letting the IRS take your hard earned money out of every paycheck.  For some, particularly…

Senior Program Budget Cuts Making it Harder for Seniors to Stay in Their Homes

Federal Budget Cuts Affecting Seniors CNNMoney, November 19th, 2013 For many seniors, being able to stay in their own homes can be their last claim to independence and dignity, and will not be easily let go of.  However, most will readily admit that a little help here and there can be essential to their ability…

Can an Annuity Help You Generate More Retirement Income?

Closing the Retirement Income Gap PBS Newshour, November 2013 The difference between a safe annual retirement income and basic retirement expenses is known as the retirement income gap.  Facing an alarming decrease in American workers who have a pension to count on, many people approaching retirement age are wondering where they are going to be…

How the Wealthy Become, And Stay, Wealthy

Is Frugality the Key to Wealth? Media Post Blogs, October 18th, 2013 As a general statement, there seems to be an explosion of new dollar stores popping up across the country.  It seems that they’re almost as easy to find as a Starbucks these days.  Which raises the question, are there enough people who shop…

What Are Your Healthcare Options?

Healthcare is again in the news and many people are feeling confused by the amount and variety of information being communicated. Here is what you need to know about Medicare, Obamacare and Medicare Supplemental insurance. Obamacare: Obamacare is the commonly used name for the Affordable Care Act.  This act is designed to make healthcare affordable for…

Baby Boomers Entering Retirement

Time for Baby Boomers to Grow Up USA Today, October 21st, 2013 As hard (and in some cases, as depressing) as it may be to believe, many of the people from the so called “Baby Boomers” era are turning 65.  And “Boomer” or not, many seniors are having a tough time making the transition from…

Are Women Better Investors Than Men?

Women Smarter in Investment Decisions The Washington Post, October 11, 2013 Is it time for men to have a nice big slice of humble pie?  A new study by a University of California professor is showing that women make more lucrative investment decisions when it comes to the stock market.  Could this be true?  Or…

Can You Buy a New House Using a Reverse Mortgage?

Using a Reverse Mortgage for a Home Purchase The Wall Street Journal, January 29th, 2013 What is a Reverse Mortgage?  Many of us have seen the commercials on TV, Fred Thompson or Henry Winkler singing the praises of the many benefits of the program.  Yet public opinion of Reverse Mortgage still seems to be, as…

Learning About the Economy

Understanding How the Economy Works www.economicprinciples.org, September 22, 2013 Almost everyone is aware of how important it is to make a financial plan for your future.  And in most cases, it’s not just your future, but the future of you and your family, and for some, your business.  And while financial planning is a many-headed…

Free Online Course to Teach You About Retirement Finances

Masters Course in Finance Available Online The New York Times, October 11th, 2013 Most of us could potentially benefit in any number of ways from going back to school.  The biggest motivation to do this for the majority of us would probably be to make more money.  But if you’re not ready to enroll for…

Can You Loan Money to Family Without Regret?

How to Mix Family and Money Successfully The Wall Street Journal, October 14, 2013 Everyone knows that mixing finances and family will, in most cases, end up seeming like a bad idea.  Ironically, it seems that whenever someone needs money and the bank cannot help them, family members are who they will turn to first. …

How You Get Smarter As You Age

So You Can Teach an Old Dog New Tricks Time Magazine, August 15, 2013 For many people over the age of 65, if you were to ask them if they believe that they’re smarter than someone in their 20’s, you would probably get a response along the lines of “Duh!”  However, if you were to…

Retirement Planning Options

Staying Ahead of Retirement Planning Stress www.caring.com, September 17, 2013 It’s been a long road of building a life for yourself from the ground up, but it’s behind you now and you’re finally ready to start planning for your retirement.  But what does that entail?  Do you get to just stay at home, put your…

Retiring Abroad, Fantasy or Reality?

Can Retiring Abroad be a Realistic Option? BBC Capital, September 19th, 2013 With the cost of living in the United States being as high as it is in many places, many retirees are considering taking their retirement elsewhere.  Places where the climate might be a little warmer, where the cost of housing might be a…

New Rules to Make Reverse Mortgage Qualification More Difficult

The U.S. Department of Housing and Urban Development will be instituting major changes to the Reverse Mortgage program. Changes taking effect this month, effective September 30, 2013 include: Limits to the amount of money that you can access in the first year of the loan A new mortgage insurance fee structure which may mean higher…