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Retirement Planning

How Interest Rates Can Have a Big Impact on Your Retirement

Falling interest rates can often signal a negative impact on a long-term retirement portfolio, as a lower rate environment means less money saved for retirement. But low rates can also have a silver lining for retirees, especially when it comes to reverse mortgages. The Federal Reserve has been keeping downward pressure on interest rates post-recession in…

May 2, 2014
Reverse Mortgages

Paying Back Your Reverse Mortgage in Advance: The Pros and Cons

One of the biggest benefits to the home equity conversion mortgage program is that, unlike conventional mortgages or home equity loans or lines of credit, you are not required to make monthly payments toward the balance of the loan. The federally-insured HECM program requires that loans be repaid when the borrower dies, leaves the home,…

May 1, 2014
Reverse Mortgages

New Reverse Mortgage Calculator: How to Assess Your Suitability for these Loans

A reverse mortgage is a loan. You are borrowing against your home equity. However, unlike traditional mortgages, with a reverse mortgage you do not have to pay back the money borrowed as long as you are living in the home. If a reverse mortgage is right for you, it can offer great financial relief. Reverse Mortgage…

March 15, 2014
Reverse Mortgages

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…

March 14, 2014
Reverse Mortgages

Disappointed by Your Reverse Mortgage Amount?
Do This to Make the Most of this Loan!

Reverse mortgages actually give you 4 big benefits — not one — all helping you with retirement. How to Get the Best Reverse Mortgage Loan Amount Getting a mortgage is one of the biggest financial decisions you’ll ever make. Shop around to find the best rate and lowest fees. Click here to quickly find out…

February 21, 2014
Housing and Home Equity

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…

February 20, 2014
Reverse Mortgages

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…

February 4, 2014
Social security Social Security

5 Social Security Tips for 2015

  The turning of the calendar year is a classic time to evaluate your financial goals. If you’re rapidly approaching retirement age, or if you’re already there, Social Security benefits are probably near the front of your thoughts. Social Security helps supplement the lives of millions of retired Americans. But even though every worker gets…

January 31, 2014
Retirement Planning

2014! New Year Resolutions for Your Retirement!

As the New Year begins, it is the traditional time to set goals for improving your life. Here are a few resolution recommendations for anyone at or around retirement age: • Create a Retirement Plan: Contrary to popular wisdom, most people enter retirement without much of a long term plan. However, it is critical that…

January 17, 2014
Reverse Mortgages

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…

September 11, 2013
Reverse Mortgages

The Latest News About Upcoming Reverse Mortgage Changes

The Reverse Mortgage Stabilization Act was signed into law on August 9th. As we’ve reported earlier, this new law gives the Department of Housing and Urban Development (HUD) the authority to strengthen the HECM Reverse Mortgage program by making significant, but not overly drastic adjustments. We expect HUD to announce these changes before the end…

September 3, 2013
Social Security

Delay Social Security for more income

Deciding when to start drawing Social Security can be one of the toughest decisions that a new or near retiree can make. For most, delaying Social Security is the preferred option — in fact, it may your best investment decision. By Henry Hebeler Henry (Bud) Hebeler is one of the most experienced financial advisors within…

August 20, 2013
Housing and Home Equity

Too Much Stuff?

The 2010 Health and Retirement Study (HRS) included questions asked of persons aged 60 plus about personal belongings. Some of the findings: • Five percent of respondents said that they had fewer things than they needed.  Thirty five percent said they had just the right amount.  Sixty percent said they had more than necessary. Do you have…

June 28, 2013
Reverse Mortgages

What Happens if You Have a Reverse Mortgage and a Tornado or Other Disaster Destroys Your Home?

The devastation in Oklahoma from the massive tornados is overwhelming. It is a human tragedy with entire neighborhoods flattened. Catastrophes like this serve as an important reminder to make sure you have the proper preparations in place should a natural disaster strike your home. Evacuations plans, emergency supplies and communication protocols are important. Equally important…

May 31, 2013
Family and Relationships

What to Do When Your Siblings Are Taking Advantage

“When it comes to caring for your aging parents, do you ever feel like your siblings are putting too much of the responsibility on your shoulders? Whether it’s day-to-day care tasks or paying the bills, if the division of labor is making you angry, it’s time to take action. Find out what the experts advise.”…

May 14, 2013
Budgeting & Spending

The Price is Right! Top Couponing Strategies and Web Sites for the Retired

AARP senior discounts used to be one of the only ways to save money. Now online coupons and discounts can be found on anything and everything and are a great way to save money on retirement expenses. Here are a few of the strategies and sites we think are best. • Search for Specific Discounts:…

May 7, 2013
Long Term Care

Reverse Mortgages and Long Term Care

Your decision to get a Reverse Mortgage should probably involve an analysis of your long term care plans. Research indicates that at least 70 percent of people over 65 will need long term care services at some point in their lives.  Many people secure a Reverse Mortgage in order to fund long term care services…

April 23, 2013
Medicare and Health Insurance

Retirement Health Costs are Higher than you Think

According to the Center for Retirement Research at Boston College, the above is largely true no matter how high you think they are. A good rule of thumb for estimating health costs in retirement is that Medicare will, on average, cover 60%, while the remaining 40% come out of the retiree’s pocket. Unfortunately, according to…

April 3, 2013
Retirement Savings and Investments

Are You $250,000 Short on Retirement Savings? You Are Not Alone!

According to a new study from Ameriprise Financial, there appears to be a significant disconnect between average retirement goals and reality. While the study suggests that Americans have a positive view of retirement – with 78 percent of respondents expecting to be extremely happy, it seems that most Americans have a gap of $250,000 between…

April 3, 2013
Aging Well

You Might Want to Reconsider These Common Medical Tests!

The Choosing Wisely campaign, an initiative by the American Board of Internal Medicine Foundation in partnership with Consumer Reports, kicked off last spring. It is an attempt to alert both doctors and patients to problematic and commonly overused medical tests, procedures and treatments. As we get older, we may find the need or desire for…

March 27, 2013
Retirement Planning

What to do about Social Security?

If you follow the news related to retirement for any length of time these days, you will encounter some article on the woes of Social Security, either presently or imminently.  Recently, Gary King and Samir Soneji, professors at Harvard and Dartmouth respectively, wrote an article for the New York Times in which they claimed that…

January 18, 2013
Family and Relationships

The Best Senior Dating Sites Online –Dating Networks Grow in Popularity for Boomers and Other Retirement Age Americans

While we at NewRetirement are mostly focused on the financial aspects of growing older, a successful retirement generally means overall fulfillment and dating is an increasingly popular activity among older Americans. With extra leisure time, it is no wonder that seniors – many of whom have lost or divorced spouses – are looking to spend…

October 31, 2012
Family and Relationships

Shack Up and Save? What Are the Financial Advantages and Disadvantages to Marriage Later in Life

More and more couples over the ages of 60 are favoring cohabitation over marriage.  In fact, cohabitation among people over the age of 60 more than quadrupled between 2000 and 2020. What is Driving the Trend Toward Cohabitation? There are quite a few factors driving the trend toward cohabitation for people over 50 or 60.…

October 27, 2012

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