The front page headline of today’s Wall Street Journal proclaims “American’s Delay Retirement As Housing, Stock Swoon“. Senior’s largest net asset as a percentage of net wealth has traditionally and statistically been dominated by home equity. The article profiles one couple’s struggle to sell their $250,000 home after many months and this is after a […]
Category: Reverse Mortgages
Should someone get a Reverse Mortgage in order to stay in there house as an alternative to selling the home, moving to assisted living, or dedicated skilled care? The easy answer is “maybe” and depends on the circumstances associated with their individual financial situation. The reverse mortgage allows the senior to stay in the home […]
One of the major questions that many seniors have is should they pay off their mortgage with savings or with proceeds from some of their retirement accounts. The answer to that question is highly dependent on their needs, goals and retirement balances. Some financial planners recommend funding future mortgage payments by purchasing an annuity. This […]
The current national housing market is slow for everyone and does not discriminate against the young and the old. For many seniors that have significant equity in their home that represents a large portion of their net worth, a quick sale or a below market sale price is detremental to their financial situation that can […]
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