A reverse mortgage loan allows the homeowner to get cash out of a portion of the equity in their home without having to make monthly mortgage payments or leave the property. Remember: ‘equity’ is what you own outright. This is different than a home equity line of credit -- which is complicated and a bit scary. A reverse mortgage can increase your income during retirement. Some retirees delay their Social Security by using a reverse mortgage to provide an income stream. Som
Many people dream of traveling the world once they reach retirement. For many who are currently at the age of retirement, or are approaching it, it is likely that the world looks far different than it did whenever the first thoughts of retirement travel entered their minds. Those who are getting ready to embark on the adventure need to consider many things before making their decision on where to go, and how to take care of themselves once they are there. 1 Updating Your Pass
How You Can Save Money When You Retire Unless you happen to have a pension, or a job in retirement, you will most likely spend retirement living on a set monthly income. Your goal will be to stretch your income as far as possible each month, while maintaining your quality of life. There are a few key things you can do to optimize your spending. Work on a budget that matches your values. In retirement, it will be crucial that you develop a budget and stick to it. Track you
As a retiree, getting a pet may be one of the best decisions you could make. Pets that do not require a great deal of care are known to improve your overall mood, as well as provide you with years of loyal companionship. However, owning a pet is not an effortless endeavor. Whether you choose to get a dog or a cat, you will need to provide care for them, pay certain costs to keep them fed and healthy and make decisions for what you will do with them when you travel. Dogs Some
