Once you turn 62, if you own a home, you’re generally eligible to get what’s known as a reverse mortgage — a way to tap your home equity and age in place without making mortgage payments. But should you? That question is debated on the new Friends Talk… Continue reading
In his CBS Sunday Morning commentary on Nov. 3, Joe Ricketts, founder and former CEO/Chairman of the financial services firm Ameritrade, said: “Are we headed into a recession? You can’t pick up a newspaper without seeing that question. Well, I’ve been … Continue reading
Transitioning from your nine-to-five career to becoming a business owner after 50 may sound enticing, with the freedom to set your own hours and profit from your passions. But midlife entrepreneurship comes with financial risks, too. Here’s how to mana… Continue reading
The number of people 55 and older filing bankruptcies has skyrocketed since 1991, and that’s even more true for those 65 and older. Bankruptcy can offer a fresh start if you’ve fallen on tough times and are unable to pay your bills. Once you file bankr… Continue reading
The number of people 55 and older filing bankruptcies has skyrocketed since 1991, and that’s even more true for those 65 and older. Bankruptcy can offer a fresh start if you’ve fallen on tough times and are unable to pay your bills. Once you file bankr… Continue reading
Julie (who prefers to use a pseudonym for this story), 54, wants to get her daughter through college without incurring any student loans for the $30,000 annual tuition. So, she helped fund her daughter’s freshman year by taking out a kind of second mor… Continue reading
If you look only at the nation’s low, 3.7% unemployment rate, it would be easy to assume that the economy’s humming and that Americans are feeling great about their finances. But after reviewing five recent notable surveys, I believe many people are ac… Continue reading
You’ve seen the frightening student loan statistics, such as the $1.5 trillion in outstanding debt they now represent. And if you’re a parent of a teenager or twentysomething, you’ve probably lived them. (A recent Bloomberg BusinessWeek report said som… Continue reading
There are so many scary things about retirement: All that free time to suddenly fill. The slew of health care decisions, from Medicare to supplemental health insurance to long-term care insurance. But the scariest thing of all is figuring out how to av… Continue reading
(This article is an updated version of a 2018 Next Avenue story.) Here are two safe forecasts, the kind you can count on. First, the U.S. economy will sink into a recession. Second, no one knows when the recession will arrive. Taken altogether, these t… Continue reading