it is important to plan a detailed discussion, given the strong likelihood that older parents and their adult children have conflicting expectations about issues such as elder care, retirement security and inheritance.
More than 7.3 million older Americans — one out of every five people over the age of 65 — have been victimized by a financial swindle, according to a new survey by Investor Protection Trust (IPT)
Retirees may be past the days of resolving to work out more or buy fewer $4 coffees. Yet when it comes to money in particular, resolutions may be even more important for those living on fixed income.
Life histories, ethical wills and video recordings are just some of the ways people are leaving their personal legacies for loved ones. Their use is becoming more common and small businesses are emerging to meet the demand.
By Alain Valles “I heard reverse mortgages are bad” is the response I often receive when I tell people what I do. Fortunately, I don’t...
By Alain Valles You’ve worked hard, sacrificed for the kids, tried to save for retirement and chipped away at your mortgage. But now you need...
It’s a case of broken promises. A growing number of companies are reneging on health insurance and other retirement benefits, leaving retirees scrambling and sometimes uninsured.
By Alain Valles, CRMP, CSA, MS, MBA Too many ads and TV commercials only highlight the benefits of reverse mortgages, and are silent about the...
Real estate values continue to increase but so do major living expenses. Does it make more sense to downsize or figure out a plan to remain financially independent at home? It reminds me of the old Clash song - “Should I stay or should I go?”
Reverse mortgages, also called Home Equity Conversion Mortgages (HECMs), are government-insured loans that allow qualified senior homeowners to convert illiquid home equity into available tax-free cash for immediate or future use. Although reverse mortgages have been available since 1987, they still only account for about 1 percent of the total mortgage industry.