A reverse mortgage can make it possible for older homeowners to remain in their home and supplement their retirement income. While you receive a steady influx of cash from a reverse mortgage, it’s ultimately a loan that needs to be repaid.
If you have a family member with special needs, you might face emotional and physical issues. However, you also may be concerned about maximizing the financial support that your loved one requires.
If a child you’ve added to your deed goes through a divorce, has tax issues, is sued by someone, or must declare bankruptcy, your house could be on the chopping block!
Time is one of your greatest assets or your worst enemy when planning for retirement. The earlier you start saving for retirement, the more time that money has to grow. That means you have to save fewer dollars earlier, in order to achieve your financial goals later.
When was the last time you updated, or even thought about, the beneficiary designations listed on your retirement accounts, life insurance, or annuity contracts? If you don’t remember, it’s time for a review!
