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It’s relatively common knowledge that women tend to have a longer life expectancy than men. But the common knowledge is also backed up with data. According to the Social Security Administration, a man who is 65 years old today can expect to live to 84.3 years. But a woman who is 65 can expect to…

We asked J. Douglas Hoyes, bankruptcy trustee, founder of Hoyes, Michalos & Associates, and advisor for MoneyProblems.ca, how big of a problem debt was for individuals today. He said the answer really depended on your perception. While the average Canadian now owes $1.62 in debt for every after-tax dollar they earn (a number that keeps…

In short time, homeowners who are considering taking out a reverse mortgage will run into a few changes. But industry experts say these changes are nothing to fear. In an effort to better protect borrowers and the reverse mortgage program, the Department of Housing and Urban Development (HUD) has issued new guidelines that will impact…

Reverse mortgages are complex financial tools that, when utilized to their full potential, can be instrumental in helping you plan for retirement. But not used under the right circumstances, they have recently made headlines for consumer complaints about them. What are the biggest reverse mortgage complaints? In February, the Consumer Financial Protection Bureau (CFPB) highlighted…

Travel smart, and you could see places you’ve only dreamed of. Retirement seems to be the universal time to think about traveling extensively, but travel can be expensive, especially if you want to cross the oceans. If your retirement funds aren’t as much as you’d like them to be, you might believe that you’re stuck…

It seems that time goes by faster as the years march ahead. For people who haven’t yet started saving for retirement, or who haven’t stayed committed to saving, the future can arrive even faster and a bit more unsteady. But fortunately, it’s almost never too late to get on the right track. At LearnVest, retiree…

It’s a largely held belief that baby boomers are downsizing, seeking to trade in their suburban single-family homes for urban multi-family residences when they approach retirement as “empty-nesters.” However, that’s not always the case. While this cohort is experiencing a number of life transitions, one key metric of boomer housing consumption hasn’t changed: the proportion…

NBC Today Show’s financial editor, Jean Chatzky, knows how to break down complex financial topics so that everyone can put them into action. And for 2015, she’s shared a handful of creative ways to save more money. Better yet, they’re nearly foolproof. Saving can be difficult, or it can be easy. Here are 5 ways…

For many years, non-borrowing spouses of reverse mortgage borrowers had few protections when the borrowing spouse passed away. That’s because the reverse mortgage, and its terms, apply only to those people who are named on the home title. For some non-borrowing spouses, that has meant they are left to repay the loan, or leave the…

If you’re looking for a way to retire comfortably on a modest budget, Margit Streifeneder, founder of RetirePedia, thinks you should consider living out your golden years abroad. Depending on where you choose to live, you’ll find many countries that offer a pleasant climate and a high-quality standard of living at lower costs. On RetirePedia,…

Are you saving enough for your retirement? Maybe. Maybe not. Clark Howard, a financial expert whose nationally syndicated radio show helps people manage their money, recently commented on how much he believes you should be saving, and why. The Clark Howard retirement calculations suggest that even if your current plans are not perfect, if you…

Sometimes it’s hard to know who to trust in the world of finance. You don’t know whose hands are in whose pockets, or if the financial advisor even has a vested interest in your portfolio. It can be difficult to get an unbiased, expert opinion. That’s where Colorado’s Bason Asset Management comes in. Bason Asset…

This year, reverse mortgages will undergo yet another transformation in a long line of recent program changes designed to make these loans safer retirement planning mechanisms for the borrowers they serve. Starting on April 27, 2015, borrowers age 62 and older will be subject to a financial assessment before they can take out a reverse…

If having the finances to maintain a comfortable lifestyle in retirement is of growing concern to you, you’re not alone. Baby Boomers have seen their confidence in retirement deteriorate as a result of the recent economic downturn. As the economy improves, the ability for baby boomers to reach their goals should improve with the economy,…

Reverse mortgages can help you build wealth. How could a reverse mortgage be a great financial planning tool? A little-known feature of reverse mortgages is being recognized by financial planners as a way for people 62 to have an additional revenue stream in retirement. Nearly 78% of all older adult households do not have sufficient…

Planning for retirement has changed a lot in the last 20 years, and it is safe to assume that it will be nearly unrecognizable in another two decades. When you’re already struggling to keep up with life, how can you expect to keep up with all the changes with retirement plans, let alone understand them?…

A retirement calculator gives you a snapshot of where you are now, where you’re headed, and what to expect once you get there. You could find those answers on your own, but these nifty devices are designed to make it simple and quick. Think of it like a checkup. You might have a terrific diet,…

Hidden fees are like a hairline fracture in your retirement plan – undetectable at first, but able to grow and spread to undermine all of your financial preparations. FeeX began when co-founder Uri Levine detected $230 in hidden fees on his credit card statement. He went after these fees with a vengeance in the vein…

Once you turn 70, car insurance is a whole new and potentially expensive ballgame. This could be the most wonderful time of your life, at least if you’re prepared for what’s up ahead in the road. But if you prefer to drive without a map, there might be some expensive surprises on your journey through…

Lynette Rice knows what it takes to live life to the fullest without overspending. That’s why she created her own website, Cleverly Simple, and shares what she knows with readers. Here, Rice shares some tips with readers looking to save money, cut back on overspending, and find ways to save on everyday items. Cleverly Simple…

We asked financial advisor Ryan Monette about the biggest mistakes Americans make when saving for their retirement. His advice was to listen to whoever said to save eight percent to 10 percent of your wages right away. Although he was joking, saving something is better than saving nothing (of course). But Monette doesn’t believe in…

The closer you get to retirement, the more you’ll wonder whether you’re really prepared for it. But the National Retirement Research Index (NRRI) does more than wonder. It determines how many households are considered “at risk” of lacking the finances to keep their current lifestyle once they retire. When you’re younger, it’s easy to think…

There are hundreds of places across the country where you can choose to live when you’ve finally saved enough and are ready to retire, but some areas are better for your retirement than others, regardless of whether you’re into urban city living or small town peace and quiet. The Best Cities for Successful Aging, a…

Investments are hugely important for retirement planning.  “Investing” means putting money into an asset with the expectation that it will grow, produce dividends or generate interest.  Investments are designed to grow your money although most, if not all, forms of investment involve some form of risk. By this definition, annuities are a terrible investment.  Why? …