3 Signs You May Be Headed for a Disastrous Retirement A really low savings balance could limit your spending power.   An early Social Security claim could leave you cash strapped.   A refusal to work might leave you not only low on funds, but bored senseless.   The $21,756 Social Security bonus most retirees completely overlook   You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resou ..read more

Using a Reverse Mortgage to Pay Off Debt  For homeowners 62 and older who have accumulated debts that create a financial strain, there’s another option beside traditional home equity loans or home equity lines of credit. It’s a reverse mortgage. You’ve probably seen TV commercials about it, but you may not understand exactly what reverse mortgages are all about and how they might – or might not – be worth considering as a way to pay off other debts. Reverse mortgage loans were created to help older Americans access the equity in their homes while ensuring that they can live in the home ..read more

Hold onto your hats because it’s going to be a very big Fed week Markets will gyrate right up until the Fed announces its interest-rate decision. But don’t forget: Apple reports quarterly results on Thursday, and a big jobs report lands on Friday. It may be too much to say the week coming up is the mother of all weeks for investors and markets. But it has the potential to be dramatic. It comes after the 10-year Treasury yield briefly topped 5% on Oct. 23 but ended the week at 4.84%. Yields at these levels haven’t been seen since mid-2007.  Stocks were volatile, to say the leas ..read more

Changes to Medicare Advantage Improvements in health equity: There are three key changes for 2024 designed to improve access to healthcare and overall experience under Medicare Advantage. Enhanced provider directories: Advantage plans must now update their provider directories to align with Medicaid standards. Directories will now include information about providers’ cultural and linguistic capabilities, making it easier for plan participants to find providers who can communicate effectively and understand needs. Access to telehealth and behavioral health benefits: Advantage plans will ..read more

The Complex Truth About Reverse Mortgages In TV commercials, pitchman Tom Selleck hawks the virtues of reverse mortgages. But are they a lifeline for retirees, or a hoax? The truth is complicated and nuanced. An Unsavory Reputation. “Reverse mortgages are viewed much more positively by economists than by advisors,” said Michael Finke, Frank M. Engle chair of economic security at The American College of Financial Services in King of Prussia, Penn. In fact, few advisors even want to talk about them. Since their introduction in the early 1960s, they have developed an unsavory reputation. In 1989 ..read more

Unaffordable housing market is becoming even more expensive as mortgage rates soar over 7%. An already miserably unaffordable housing market is getting more expensive. As mortgage rates top 7% — the highest they’ve been in 21 years according to Freddie Mac — home buyers face ballooning costs. Some housing experts are warning that rates could keep climbing toward 8%. What does this mean for house hunters? Even ever-optimistic real estate pros say buyers and sellers must adjust their expectations. “I don’t like to be ‘doom and gloom,’ this is my book of business,” said Bess Freedman, CEO of ..read more

Tips for Boomers Who May Have Retired Too Early As a baby boomer who has opted for early retirement, you may be grappling with how to make your retirement funds stretch out over the years ahead. You’re wise to do so — especially if you’re not even 60 yet. 5 Cities Becoming Popular With Baby Boomers: Are They Right for Your Retirement Years? Learn: 3 Ways To Recession-Proof Your Retirement Factors such as your budget, housing, healthcare, Social Security benefits and other sources of income need to all be taken into consideration as you evaluate how to proceed. Here are eight ..read more

Choosing the Right Seniors Reverse Mortgage : Tailoring Solutions for Seniors In the United States, the population of adults aged 65 and older stands at a staggering 54.1 million, a number that continues to grow with each passing year. As these individuals approach their golden years, financial stability becomes a paramount concern. Many seniors are seeking ways to supplement their retirement income, cover medical expenses, or fund necessary home improvements. In this pursuit of financial security, reverse mortgages have emerged as a popular and viable option among older adults. These unique f ..read more

Self-Insureing for Future Long Term Care A recent column, “Should Federal Employees Self-Insure for Their Future Long Term Care,” discussed why some federal employees and retirees may want to consider self-insuring for their future long term care (LTC) costs. Some suggestions for self-insuring were made including an employee’s setting aside a portion of their Thrift Savings Plan (TSP) and/or IRAs to use in the future to help pay LTC expenses. This column presents another method to pay future LTC expenses; namely, a reverse mortgage. Many federal employees and retirees bought their current home ..read more

How to prepare for FHA appraisal requirements Mortgage lenders require an appraisal of each home they extend financing for. This is to ensure they aren’t lending too much money for a place that isn’t worth it. An appraisal also comes into play if you’re a candidate for an FHA loan. If you plan to buy a home using a government-backed mortgage insured by the Federal Housing Administration (FHA), the property must go through an FHA appraisal to determine whether it meets certain standards and criteria. These standards, outlined by the U.S. Department of Housing and Urban Development (HUD) in its ..read more