It is not uncommon to be living on a fixed income and a set and restricting budget for many older Americans. But sometimes you may require more cash than is on-hand for one or more reasons. Here are a few examples of where a reverse mortgage might be able to help you.
First in a series. Sure, the hit HBO show Ballers on life after football -- starring none other than a super suave Dwayne 'The Rock' Johnson -- is dripping with sex, sun and swag. But the real story behind the story is about finances and the show gets it right on the money.
While many have looked at a reverse mortgage as a viable retirement vehicle for those who may need an injection of capital, it can also be just as advantageous to those who are well off, too.
It became clear to me that unless you have so little money that you will qualify for Medicaid, or so much money that you can pay the bills out of your own pocket, you should consider buying long-term care insurance.
Having relocated to a bigger house in a smaller community in 2014, I have not found it difficult to find employment. Kudos to local employers for respecting the skillset offered by a job candidate with a lengthy resume. The challenge for me has been finding a place where I fit and feel validated.
Daughter: Mother dear, I can't believe you smashed your car into a fire hydrant. At least you didn't get hurt. Mother: That fire hydrant wasn't there yesterday. Daughter: Oh, Mom, of course it was. I wonder whether you should keep driving. Mother: I'm fine, and I'm not giving up driving.
The world of retirement benefits is complex terrain, peppered with minefields like fine print, tricky terminology, little-known exceptions and seemingly random rules. And what you don't know can (and will) come back to bite you.
Are you one of the many people who don't have a 401(k) at work? Wondering how in the world you're going to save for retirement without one?
Americans are woeful at saving for retirement -- and there's only so much the government can do about that. And that's why the newest changes in tax policy (plus newer ideas currently being tossed) can't make that big of a difference.
After almost two years of full-time travel, of extended stays in Italian university towns, Croatian coastal retreats, and forested German hideaways, I've finally come home. All it took was some exploration, a lot of paperwork, and a little luck.
While life insurance may be the perfect solution for many, for some it may not. If you have yet to decide, here are three alternatives to life insurance that you can consider in the meantime.
The tontine is an investment scheme where each of a group of participants pays a specified sum into a fund and receives a pro rata share of the income generated by the fund, but when a participant dies their share is divided among those remaining. As the number of participants dwindles, those remaining receive increasingly large distributions.
Fresh ideas and approaches can empower a brighter future of aging, and the emergence of financial gerontology is cause for hope. This link between two disciplines that are critically important to the aging population presents the potential for new solutions and healthy, productive and purposeful outcomes for today's older adults and for generations to come.
After speaking with the attorney and accountant, one thing became clear. As residents of Connecticut, if we want to have more money in retirement, and keep that money and maybe even have money left over for our kids when we go to that 'Spirit in the Sky', leaving Connecticut is critical.
Make sure your portfolio is appropriately allocated and diversified to meet your circumstances and goals. And remember that your investing decisions should be based not on market timing but on the time you have to invest.
When it comes to investing and retirement savings, women have an edge over men. The problem is that when it comes to how much they have saved for retirement planning, men still have the advantage because they earn more than women.