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Kiplinger: Reverse Mortgages Help Seniors Avoid ‘Pre-retirement Crisis’

In trying to shore up finances as a senior prepares to enter retirement, one option that can help a senior to avoid a financial crisis in the period preceding retirement can be a reverse mortgage. This is according to Mike Piershale, president of Piershale Financial Group in Barrington, Ill. in a new article at Kiplinger. […]

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Americans are Making Mistakes with Retirement Savings

Nearly one in five Americans don’t contribute enough to their employee-sponsored 401(k) plans to earn the company match, according to a new survey by MagnifyMoney. That means they’re missing out on “free money.” Read more…

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Advisors May Be The First To Notice Elder Abuse

Nearly half the country is now on board with changing how advisors can respond to signs of elder fraud. State governments and regulators have been prompted to make changes to the regulatory regime in response to the high costs of elder abuse and advisors’ unique position to spot early warning signs. Read more…

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Retirement Trends of Baby Boomers

Baby boomers are entering retirement with the confidence that the best years are still to come. Rightfully so, considering boomers are the first generation to grow up expecting life to continue improving. Read more…

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How Advances in Fintech Help You

Financial technology — or fintech, for short — has increased competition in the advice business via automated online platforms. Yet at the same time, advisors have found that those digital advances have bolstered their ability to serve clients, both by freeing up their time and helping their businesses run more efficiently. Keep reading…

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Pre-Retirees Aren’t Realistic About Retirement Expenses

In the first study, the Hearts & Wallets financial research firm, asked 495 “late career” workers age 53 to 64 whether they thought they’d spend more, less or the same on key expenses in retirement than they currently do. Keep reading…

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New High of $7.14 Trillion for Senior Housing Wealth

Homeowners age 62 and older saw their collective housing wealth increase in Q1 2019 by 2.7 percent compared to the previous quarter. This constitutes an increase of approximately $104 billion to a record of $7.14 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. […]

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FHA Changes Slash Default Rate

It’s been four years since the Federal Housing Administration instituted a policy requiring all prospective reverse mortgage borrowers to undergo a financial assessment to determine their suitability for the loan, and so far, it appears to be working. Learn more…

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Focusing on Smart Use of Housing Wealth

As defined benefit plans and pensions become a thing of the past, researchers continue to extoll home equity’s critical role in retirement income planning. For some time, a group of academics and financial planning professionals have sought to spread that message, forming the Funding Longevity Task Force to drive this mission and working in partnership with the […]

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Financial Advisor: Don’t Ignore Reverse Mortgages

Although they can often be a tough sell, reverse mortgages can likely help financial clients who find themselves running out of money in retirement. This is according to an article appearing in Financial Advisor by writer Dan Jamieson. Learn more…

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