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Retirement plan advisors suggests paying off mortgage before retirement

Retirement plan advisors suggests paying off mortgage before retirement

Finance
Retirement plan advisors - While retiring completely debt-free is an optimum goal for better finance, many Americans will enter retirement with a mortgage note draining their nest eggs. According to one of the retirement plan advisors, Jonathan Clements, in his September 20, 2007, Wall Street Journal article “Retiring With A Mortgage? Here’s What to Do,” more than 32% of households in the 65 to 74 age bracket had a mortgage on their primary residence. This is a considerable increase from 1992 when the percentage of mortgage holders among this group was just 19%. Making Extra Mortgage Payments for Better Finance The recent recession of COVID-19 pandemic and the loss of value among investment assets means that fewer retirees will have the assets they anticipated would be available ...
Pros and cons of senior life settlement

Pros and cons of senior life settlement

Finance
Many seniors will consider a life insurance settlement deal as they get older. For some, this is an easy way to raise a cash lump sum to use in retirement and to get rid of an unwanted policy. Others may prefer/need to keep their coverage in place as part of their estate planning. What are the benefits and downsides of selling life insurance as a senior settlement? The Advantages of Senior Life Settlements Senior life settlements allow individuals to sell life insurance to a third party for a cash payment. Whether this is a good idea or not comes down to the preferences and circumstances of the individual. This may, for example, work well for those that: Are paying for life insurance coverage that they no longer actually need (i.e. they have no remaining debts to cover, they h...
Tips on how to retire without running out of money

Tips on how to retire without running out of money

Finance
Whether one is contemplating retirement or already retired, the primary need for this stage of life is sustainable income. The challenges of rising medical expenses, inflation, taxes, and uncertain U.S. Social Security retirement benefits greatly complicate the equation. The key question for retirees changes from “Can I afford to retire?” to “Can I afford to stay retired?” Income Needs During Retirement Many people assume they will need less income in retirement than they did during their working years. Others are surprised to find they need the same amount of income or sometimes more to maintain their desired retirement lifestyle. Income needs during the early years of retirement are largely driven by leisure activities, such as travel. Later in retirement, the need for more, an...
Buy a Villa with Your Retirement Funds

Buy a Villa with Your Retirement Funds

Real Estate
Are you looking for great investments using the funds received from your retirement? You can look at villas as these properties are a perfect way for you to invest that considerable sum of money that you have in your hands. It is understandable for you to be careful of what you spend your money on, but a villa purchase would be a perfect way to spend it. The value will increase over time  Don't worry about losing your money right now to buy this property. Rest assured, if you want to sell this property in the future, you can sell it at a higher price. Villas are getting more popular, and properties located in prime areas will almost certainly get higher prices in the future. You need a place to relax  You worked your entire life, and this is the time for you to reward yours...
What Is Retirement Village. How To Look For It

What Is Retirement Village. How To Look For It

Lifestyle
After you’ve worked hard your whole life you deserve nothing better than a place to relax and enjoy the good things in life. Here we will discuss about retirement villages. About Retirement Villages Retirement villages refer to small to medium-sized communities specifically designed to cater for the needs of over 55’s or who are no longer in employment. While retirement villages are normally open to people aged 55 plus the typical entry age is mid sixties. Retirement villages are popular for couples wanting to retire in a safe and welcoming community of like-minded individuals and couples. They are not to be confused with aged care facilities which are aimed at elderly requiring full time carers. Most areas have a good selection of retirement villages so you should have a good...
How To Choose A Retirement Gift

How To Choose A Retirement Gift

Lifestyle
It is appropriate to give a person who is retiring a gift, retirement gifts are considered respectful and are supposed to be meaningful. But most retirement gifts are so predictable, boring and useless that as retire you are wondering if they had any idea of who you are and what you like. It is true finding suitable retirement gifts is not easy, but there are ways to make sure that the retiree really gets a gift that he or she will like. To make sure that you are giving something the retire will really like you can: - Ask the retiree to setup a gift list to choose from, this way you can be sure that the retirement gifts are welcome. You can even make it yourself easy and use a website from a major shopping site where items are tracked and removed when they are purchased so that t...