You graduated last spring. Spent your summer finding that first job. Planning for retirement doesn’t seem like a very high priority, not compared with getting a handle on your student loan payments, furnishing that new apartment, or making your car payment. Still, a little time spent sifting through your retirement account options will pay real dividends towards your future financial security.
The US population is aging, and as it does, older Americans want to age in their homes but need to access the equity for home improvement or other bills. Reverse mortgages were created as a way to convert a portion of an owners home equity into cash. While it is similar to a home equity loan, no monthly payment is required until the borrower no longer lives in the home as a primary residence or fails to meets the obligations of the mortgage (i.e. paying taxes). It’s important to know more about reverse mortgages in order to determine it is an option for you.
Confused about your 401K? Not sure what to invest in for your child\'s future? Ask Dr Don, I\'m here to help.