Retirement is a phase of life many look forward to, but it also brings a host of questions. How much retirement savings do you need? What is the right retirement age? And how do you secure a steady stream of income that lasts as long as you do? These questions weigh heavily on people’s minds, but with strategic planning, you can pave the way for a stress-free retirement. Understanding Retirement Income Needs Before diving into strategies, it’s crucial to answer, "How much ret

There was good news and bad news when the Social Security Administration announced its latest costof-living adjustment in October of 2024. A CNBC article, Social Security Administration announces 2.5% cost-of-living adjustment for 2025, lowest increase since 2021, has some timely details. Good News and Bad News The good news is that nearly 73 million Americans will see their monthly Social Security payment increase by 2.5% in 2025. On average, according to the article, most p

A reverse mortgage can be a valuable financial tool for retirees looking to enhance their income and maintain their lifestyle. But what is a reverse home mortgage, and how does it work? Let's delve into these questions and explore the benefits it offers. What is a Reverse Mortgage? A reverse mortgage is a special type of home loan designed for older homeowners. Unlike a traditional mortgage where you make monthly payments to the lender, a reverse home loan allows you to borro

As exciting as retirement is, it can be overwhelming. You are making big changes in your life psychologically, physically, and financially, and that’s not easy! By checking all your bases, educating yourself and creating a plan with a retirement specialist, you can head into retirement with confidence. Here is a short checklist to get you thinking. Get Financial Advice Your financial situation is unique and deserves special attention. While there is a lot of information avai

Most of us have the goal of someday settling down to retire, after years of hard work and some preparation. It’s no surprise that people are living longer and cost of living is climbing, contributing to the reason why many Americans are retiring at a later age, or even struggling to retire at all. There are also arguments around the ideal age for retirement, which takes into consideration things like Social Security and Medicare. Planning for retirement can be daunting, but w

It is very important to know your terms before applying for a mortgage . Bookmark this tab on your computer so that you can reference these terms at any time before or during the mortgage process. Appraisal : A rough estimate of how much the home is worth. Appraisals are required by lenders before a home loan can be signed. The appraisal tells the lender how much can be loaned to the borrower. Appraisals come from an independent third party, not the lender. Principal: The s

1.   You want to have guaranteed income for life.

Basic forms of annuities include Immediate vs. Deferred, Fixed vs. Variable, Equity-Indexed, and several other options that can include a de