retirement

Should You Pay Off Your Mortgage or Invest?

Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is your need to invest for retirement, your child’s college education, or some other goal. Putting extra cash toward one of these goals may mean sacrificing another. So how do you choose?

Reverse Mortgages

What are reverse mortgages?

Older individuals who own their homes often find themselves “house rich and cash poor.” Developed to address this dilemma, a reverse mortgage provides funds–all at once or over time–to an older homeowner by drawing against the equity built up in the residence. Unlike “forward” mortgages, reverse mortgages are not repaid on a monthly basis. The total loan (including the accumulated interest) is repaid when the last surviving borrower sells the home, permanently vacates the property, or dies.

Social Security: When Should You Start Receiving Retirement Benefits

Social Security: When Should You Start Receiving Retirement Benefits

Why Women Need Social Security

Did you know that the first person ever to receive ongoing Social Security benefits was a woman? Ever since Ida May Fuller received the first retirement benefit check in 1940, women have been counting on Social Security to provide much-needed retirement income. Social Security provides other important benefits too, including disability and survivor’s benefits, that can help women of all ages and their family members.

Retirement benefits: a steady stream of lifetime income

Factoring Health-Care Costs into Retirement Planning

There are many factors to consider in determining how much you’ll need to save in order to enjoy a comfortable and financially secure retirement. One often overlooked retirement expense is the cost of health care.