Strapped for cash? You might be able to liquify some of your home equity to cover expenses by using a home equity conversion mortgage, which is essentially a reverse mortgage backed by the Federal Housing Administration. The organization is federally insured by HUD; the agency guarantees the lender will be repaid. These products, which have […]
Retirement
Traveling in Retirement
Have you ever dreamed of selling off your worldly goods and sailing away … indefinitely? Many have contemplated a nomadic senior lifestyle as an intriguing option. Of course, many reject it. The lure of friends, family and their own familiar bed is too powerful. If you do embrace the travel lifestyle, how can you juggle […]
Don’t Let Inflation Run Away With Your Retirement
Inflation hit a 40-year high in May 2022. On many fronts, global prices have been rising due to pressures from supply chain disruptions, funds from COVID-19 relief checks, and the impact of the war in Ukraine. As a stark reminder, what a dollar could buy in 2000 now costs $1.70. Escalating prices are both a […]
Emotionally Adjusting to Retirement
There are three emotional fear factors when people consider retirement: The change from a work identity to a post-work identity can be a slow process, especially if you have significant emotional connections to your career. Focus your efforts on changing your self-identification to meaningful nonworker roles. You can’t discard the worker role without replacing it […]
401(k) and IRA Limits Rise for 2023
Good News for those with 401(k)s and IRAs The IRS has announced we will see 401(k) and IRA limits rise in 2023, and that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most 457 plans, and the federal […]
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