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Changes to Rules on Reverse Mortgages

On October 2, 2017, the Department of Housing and Urban Development’s new rules on reverse mortgages went into effect.  These rules changed up-front mortgage insurance premiums, monthly mortgage insurance premiums, and principal limit factors. These rules don’t affect existing borrowers, only new ones. If you’re considering taking out a reverse mortgage, here’s what these terms … Continued

Make Your Funds Last in Retirement

Americans are living longer than ever before: A man who reaches the age of 65 can, on average, expect to live until 84, according to the Social Security Administration. The average woman who hits 65 will live until 86. In the past most Americans lived for only a few more years after leaving the workforce. … Continued

Using Your Home to Boost Your Retirement Funds

Many people who haven’t saved enough to cover 20, 30 or even 40 years of living expenses during retirement do have one major asset: a home. If you own a home and are at least 62 years old, you may be able to convert your home equity into cash using a reverse mortgage, which can … Continued

Own a Business and Retiring? Should You Sell?

If you’re a small business owner, retirement planning can be especially complicated. For starters, you have to fund your own retirement. With no employer-sponsored plan, it’s up to you to manage your own IRAs, solo 401(k)s and the like. You’ll also have to decide what should happen to your business after you retire. For most … Continued

Investing in Index Funds: What You Need to Know

With a net worth of nearly $79 billion, Warren Buffett is one of the greatest and most successful investors of all time. His investing style, which is based on discipline, value and patience, has consistently outperformed the market for decades. While regular investors—that is, the rest of us—don’t have the money to invest the way Buffett … Continued

Navigating Bear Markets

While figures can vary, a bear market occurs when prices fall 20 percent or more from a previous high for at least two months across multiple broad market indexes, such as the Dow Jones Industrial Average (DJIA) and the Standard & Poor’s 500 Index (S&P 500). On average, bear markets show up every three and … Continued

Avoid These Investment Mistakes

If you’re consistently saving at least 10 percent of your income for the day when you leave the workforce, you’ve taken an important first step towards ensuring a comfortable retirement.  Still, saving only gets you so far. The next step—investing that money—will help ensure your savings grow enough to support you when you’re no longer employed. To … Continued

How to Automate Your Retirement Plan

Once upon a time, workers counted on a company pension to fund their retirement. Today, thanks to the advent of individual retirement accounts (IRAs), responsibility for building your financial future is in your own hands. People are getting the message about different ways to save. According to a Fidelity Investments survey, IRA balances reached an … Continued

Investing Your Roth Funds

One of the primary benefits of Roth IRAs is the tax-free income they provide at retirement, but they have another big advantage as well: They provide retirement savers with a great deal of flexibility when it comes to choosing investments for the account. In most accounts your contributions can be put into a variety of … Continued

Exchange-Traded Fund (ETF)

Exchange-traded funds (ETFs) are a type of security that tracks a commodity, group of assets or index and trades like a stock on an exchange. Unlike a mutual fund, which settles at the end of the day, the price of an ETF can fluctuate throughout the day as shares are bought and sold. The primary … Continued