Archive | Finance

Social Security and reverse mortgages

By Alain Valles, CRMP, MBA, CSA Is 62 the best time to start receiving Social Security? According to the Social Security Administration, you may start receiving Social Security income at age 62.  But if you delay enrollment until age 70, your monthly Social Security income will be significantly higher. So, does everyone wait? Unfortunately, no. […]

Read the full story

Posted in Reverse Mortgage0 Comments

Ten things I know about Fair Housing

Fair Housing legislation was created in 1968. It protects people from being discriminated against on the basis of race, color, religion, sex or national origin in the sale or rental of housing. Since its inception, many protected classes have been added including age, pregnancy status, citizenship, familial status, disability status, veteran status, genetic information, and most recently, sexual orientation.

Read the full story

Posted in Housing Options0 Comments

Can a reverse mortgage solve the world’s problems?

Things that keep us up at night

The ramifications on the world economy of Britain leaving the European Union, increasing tensions between China and Russia, a contentious Presidential election, terrorism, the ongoing Middle East crisis, and the global warming debate. All are examples of events that we have little control over but are causing tremendous concerns.

Read the full story

Posted in Finance, Reverse Mortgage0 Comments

Is discretion truly the better part of valor?

I sat down recently with four card players. It turns out, only one was still driving. There seemed to be a common thread among the others – in all three cases, it seemed like they all had stories where driving had been taken away from them in a seemingly underhanded fashion. One lady recently moved back to Massachusetts from Florida. Her son told her to sell her car and they’d find her one up here. Well, conveniently, finding a new car has not become a priority.

Read the full story

Posted in Caregiving Tips, Housing Options0 Comments

Recommendations from the Elder Economic Index Report

It’s no surprise that the older adult population in Massachusetts is increasing rapidly. In 2010, those aged 65 and older accounted for 14 percent of the state’s population. However, by 2030, that figure will grow to 21 percent. To be economically secure at any age, one’s income must cover basic living expenses. If housing, health care, food, transportation and other incremental expenses are not sufficiently covered by household income, we must support effective strategies to fill the gap or the household will suffer severe economic hardship in retirement.

Read the full story

Posted in Finance0 Comments

Planting the seed

“The best time to plant a tree was 20 years ago. The second best time is now.” – Proverb

When people think of planning for their later years, they think about saving for retirement. This is great, but it is not enough. Planting a tree requires thinking about water, soil and sun. People have more diverse needs. They need food, clothing, shelter, and health care. But they also need to fill their psychological needs. Some need something to do, a purpose in being, a goal. This may be harder to plan for, but it is important none the less.

Read the full story

Posted in Housing Options0 Comments