Helpful articles to get you on
the path to a better retirement.
Guide to Reverse Mortgages – What You Need to Know
A reverse mortgage loan is a financial tool capable of doing many things. Besides paying off your current mortgage, you can use it to pay bills, supplement retirement income, fix up your home, cover the cost of medical care, or simply reserve it as a powerful safety net for your retirement. Your options are virtually […]Read More
We Buy Houses – Too Good to Be True?
The letter arrived at just the right time. A week after her mother died in mid-2019, Suzanne was thinking about selling the family home her parents had owned since the early 1990s in the Sacramento foothills of California. A letter from a real estate investor offered close to $300,000 in cash to buy the home. […]Read More
Financial Planning is Important for Retirement
Even when you were younger, you wouldn’t think of scaling Half Dome without exhaustively planning every detail and contingency for your ascent. Well, the importance of financial planning for your retirement should take on a similar approach. Here are five reasons financial planning is so essential for your retirement: Planning implies active intent, interest, and […]Read More
How to Create an Emergency Fund
An “emergency fund” is essentially a cash reserve set aside for unplanned expenses or financial emergencies. It’s your defense against Murphy’s Law, the idea that anything that can go wrong will go wrong over time, which could negatively impact your home, health, or finances. While defining an emergency fund is relatively easy, determining how much […]Read More
Can You Make Payments on a Reverse Mortgage Loan?
Most people associate a mortgage with a predetermined set of payments, usually monthly, that you are obligated to make to your lender until your debt (principal and interest) has been satisfied. This borrower-to-lender flow of payments is known as a traditional mortgage. A reverse mortgage reverses the process. Instead of making monthly payments to your […]Read More
Can You Rent Your House If You Have a Reverse Mortgage?
The main eligibility requirements for a reverse mortgage are relatively few. You must: Be 62 or older. Own the home. Have substantial equity in the home. Live in the home as your primary residence. If you look at the last requirement, which states you must “live in the home as your primary residence,” then renting […]Read More
CA Prop 19 Expands Homebuying Opportunities
With the Nov. 3, 2020 passage of California’s Proposition 19, homeowners age 55 and older can now transfer their home’s Proposition 13 tax savings to a replacement home, including a more expensive one, anywhere in California. The tax break, which can be used up to three times, also extends to California homeowners with severe disabilities […]Read More
Reverse Mortgage and Medicaid: What You Should Know
Medicare is Awesome, But It’s Not Free – The Medigap v. Advantage Decision Generally, if you have reached the age of 65 and you have paid Medicare taxes (these are the FICA deductions on your paycheck) for at least 10 years, you will likely be eligible to receive Medicare benefits. But Medicare (Part A, hospital […]Read More
Can a Family Member Be Added to a Reverse Mortgage?
Can a Family Member Be Added to a Reverse Mortgage? People seem to enjoy making additions of one sort or another. Homeowners might add an extra bedroom to accommodate visiting in-laws. Golfers might add a solo player to complete a foursome. Or magicians might add a routine to improve their act. Unfortunately, however, you can’t […]Read More
How to Fund Your Retirement in a Down Market
As an older American adjusting to the post-pandemic “new normal,” you may not only be looking at half-empty restaurants, airplanes, stadiums and cruise ships, but also a retirement picture that is quite different from last year or even just a few months ago. If you have money invested in an IRA or 401(k), you probably […]Read More