Are you in the right home? Is it the best place for you to age? And, if not what are your options?
Seniors First is launched and includes a full range of legal, financial, housing and lifestyle solutions.
New Federal Reserve report confirms most Americans are financially unprepared for retirement, and financial planners continue to ignore the value and importance of housing wealth in the solution.
Participants from the "Housing Wealth" panel discussion at the 26th Annual Senior Celebration event, hosted by South Shore Senior News held at Lombardo's in Randolph, MA. (L-R) Chris Downey, Housing Wealth Advisor, Harbor Mortgage Solutions, Inc., Braintree, MA; Doug Beck, Certified Financial Advisor, Tailwind Wealth Management, Hingham, MA; moderator John O’Connor Jr., O'Connor & O'Connor, LLC, Braintree, MA; and John O’Connor, O'Connor & O'Connor, LLC, Braintree.
If you’re in or approaching retirement, own a home (with or without a mortgage), and are uncertain about your financial future, you may be in luck.
Retirement researchers, prominent academics and planning experts are united in recommending that home equity and reverse mortgages be a fundamental consideration in retirement planning practices.
2018 Research report documents looming crisis. Two actions that can avoid pitfalls and strengthen retirement security.
The National Council on Aging (NCOA) concluded research in 2017 documenting the Awareness of Home Equity Products Among Older Homeowners and Financial Advisors (March, 2017). The study included sessions with 1,002 older homeowners (who had not used a home equity product) and 254 financial advisors (with credentials including FINRA Series 6 or 7, Certified Financial Advisor or Planner, or NMLS Mortgage Loan Broker). The study confirmed wide gaps of knowledge and understanding of the importance and potential home equity can provide to enhance retirement security.
Senior homeowners urged to consider utilization of housing wealth to increase and extend retirement security while favorable conditions prevail. Home price record surge and low interest rates create strategic opportunity for senior homeowners.
Not long ago, your mother or father was explaining (somewhat inarticulately) the birds and the bees to you. Now it's your turn to relay some important facts of life. And conversations about reverse mortgages can be just as awkward.