The wave of baby boomers who are reaching retirement age has expanded from a trickle to a flood. These individuals are, by and large, well-educated and well-informed. For years they’ve struggle to pay their mortgage, help their own kids with their expenses of college and starting their lives. They’ve built up their 401ks, dealt [...]
Archive for March 2014
Long-term care services, which are generally not covered by regular health insurance or by Medicare, can be an expensive proposition for many families. Long term care agencies see that the cost prevents many seniors who need the care from seeking it out. Today however, the government has begun to offer tax relief to people who [...]
As an individual or couple nears retirement age, senior advocates suggest that the individual(s) seek out a financial planner to help them prepare for their financial future. Retirement involves a new economic reality — pension income is generally reduced as opposed to the previous paycheck income.
Some basic questions for people approaching retirement age:
Should you tap [...]
Even the safest and best-advised financial moves have pros and cons and the Reverse Mortgage is no exception. Many seniors are enthralled by the Home Equity Conversion Mortgage (also known as a Reverse Mortgage), a special financing option which is taking the country by storm. While Reverse Mortgage lenders promise that the process of obtaining [...]
Recent studies show that the growing pressure on seniors is fueling increasing interest in Home Equity Conversion Mortgages. These mortgages, also known as “Reverse Mortgages” allow seniors aged 62 and older to access some of the equity that they hold in their home and increase their retirement income. Financial advisors have mixed feelings about these [...]